Archive - Other Financial Officers (NOC 1114)

Published: 2 October 2014
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If you are interested in working as an Other Financial Officer in Canada, you will be pleased to know that the outlook of your occupation in Canada is extremely healthy with significantly more opportunities than job seekers.

You can use this overview of the Canadian employment prospects in your field to start planning your immigration and settlement in Canada.

other-financial-officer

Important statistics for this occupation:

  • This field allows advancement to financial management positions with experience.
  • Retirements account for the majority of openings in this field, due to the higher average age of workers in this field and the lower average retirement age.
  • A number of workers are also projected to leave this line of worker for other occupations, generally in management, which will allow for greater opportunities for newcomers.
  • The median yearly income for Other Financial Officers is $59,750 in Canada, with high incomes reported in the range of $103,000.

Duties for Other Financial Officers

This group includes professional occupations in finance not elsewhere classified such. These include financial planners, financial examiners and inspectors, financial investigators, financial underwriters, mortgage brokers and trust officers. They are employed by banks, trust companies, investment firms and governments, or they may be self-employed.

Description of Main Duties

Other Financial Officers perform some or all of the following duties:

  • Financial planners develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters; analyze clients' financial records, set goals and develop a financial strategy; advise clients on implementing the financial plan to help them achieve their goals; may also arrange for the sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability; and help to expand business and attract new clients.
  • Financial examiners and inspectors review and examine banks, trust companies, credit unions, caisses populaires, credit companies, real estate companies, insurance companies, pension funds, securities brokers and other financial services and institutions to ensure compliance with governing legislation and regulations.
  • Financial investigators investigate possible unethical conduct or breaches of securities or commodity futures laws by persons or companies that trade in securities and commodity futures or that provide related financial services.
  • Financial underwriters underwrite new issues of stocks and bonds, negotiate with corporations and governments to determine the type and terms of new securities issued and prepare offering prospectuses.
  • Trust officers administer estate, personal, charitable, corporate and other types of trusts, direct trust account investments, receive and record investment income and disburse trust funds.
  • Mortgage brokers meet with clients to obtain information about income, liabilities and assets, and type, price and condition of property to be mortgaged, and negotiate mortgage loans with lenders or lending institutions on behalf of clients.

Example job titles for Other Financial Officers:

  • Credit unions examiner
  • Estate and trust administrator
  • Financial investigator
  • Financial planner
  • Financial underwriter
  • Inspector, financial institutions
  • Mortgage broker
  • Trust officer

Find out about salary ranges for Other Financial Officers in different Canadian cities with our Canada Salary Calculator.

You can start looking for a job in Canada by using our Canada Job Search Tool.