Financial sales representatives

Financial sales representatives

NOC
6235

Sell basic deposit, investment and loan products and services to individuals and businesses.

Quick facts

3 Year Outlook

Fair
Fair

3 Year Job Openings

99
 

Median Hourly Wage

$22.60
$15.00
Low
$31.25
High

Median Salary

$43,202
 

Typically Required

College or apprenticeship

Employed

1,395
 

% Working Full Time

92%
 

% Working Full Year

78%
 
Job details

Full NOC Description

Financial sales representatives sell basic deposit, investment and loan products and services to individuals and businesses. They work in banks, credit unions, trust companies and similar financial institutions.

Main Duties

Financial sales representatives perform some or all of the following duties:

  • Open new personal and non-personal accounts, and provide access to automated banking machine, telephone banking and online banking services
  • Interview applicants for personal, mortgage, student and business loans
  • Promote the sale of deposit, investment, credit and loan products and services
  • Assist clients by proposing solutions to address financial objectives such as business expansion, debt management, investment and other financial goals
  • Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan
  • Complete credit and loan documentation
  • Submit credit and loan applications to branch or credit manager with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected
  • Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action
  • Review and update credit and loan files
  • Act as joint custodian for cash and securities.

Also Known As

  • credit officer
  • financial services officer
  • financial services representative
  • loan officer
  • mortgage officer
  • sales associate - personal banking
Requirements

Employment Requirements

  • Completion of secondary school and extensive general banking experience is usually required.
  • A bachelor's degree or college diploma related to commerce or economics may be required.
  • A mutual funds licence is usually required.
  • Registration with the securities regulatory authority in the province or territory of employment is usually required.
  • Completion of a loan or credit training program, ranging from six to twelve months, is usually required.
  • Various training programs and courses are offered by the Canadian Securities Institute and may be required by employers.
  • Financial services officers who sell regulated financial products and investments are required to be licensed by the appropriate governing body.

Provincial Regulation

Not Provincially Regulated

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

70.1%
Female
29.9%
Male
Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

5.1%
15-24
31.4%
25-34
28.6%
35-44
22.7%
45-54
11.0%
55-64
1.2%
65+
Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

1.6%
No Certificate, Diploma or Degree
36.9%
High School, Diploma or Equivalent
2.8%
Apprenticeship or Trades Certificate or Diploma
28.6%
College or University Below Bachelor Level
30.2%
University - Bachelor Level or Above
Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

86.7%
Finance and insurance
2.7%
Administrative and support, waste management and remediation services
2.7%
Public administration
7.8%
All Other Industries
Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

9.00%
Northeast
44.50%
Southeast
16.40%
Southwest
25.00%
Central
5.10%
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Median Salary by Economic Regions

The following graph shows the median salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

$47,163
Northeast
$43,753
Southeast
$45,890
Southwest
$39,823
Central
$44,597
Northwest
Province of New Brunswick Economic Regions

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Northeast

$22.60
$17.50
Low
$30.00
High

Southeast

$23.59
$14.08
Low
$31.25
High

Southwest

$24.62
$13.00
Low
$32.31
High

Central

$22.60
$15.00
Low
$31.25
High
No Data Available
Salary

This following represents the median salary of all persons employed in this occupation compared to the median salary of workers employed in this occupation that work full-time year-round.

All Workers Employed in this Occupation

$43,202

Workers Employed Full-time, Full-year

$45,823

This following represents the median salary of persons employed in this occupation across each of the Atlantic Provinces and nationally.

New Brunswick

$43,202

Newfoundland

$43,452

Prince Edward Island

$47,949

Nova Scotia

$42,695

Canada

$46,798
Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Three Year Outlook

Total Openings: 3 Year

99
 

New Jobs: 3 Year

-5
 

Retirements/Deaths: 3 Year

102
 

Ten Year Outlook

Total Openings: 10 Year

321
 

New Jobs: 10 Year

-33
 

Retirements/Deaths: 10 Year

351