Need advise on what NOC 1112 or NOC 4162 to choose for my current job

[demand510]

My current position sounds like Model Risk Specialist

I am applying for CEC under NOC 1112 (current job, 10 month can exp) and NOC 2171(6 month can exp.).

I already have employment letters with both NOCs stated.

My responsibilities in employment letter for NOC 1112 sound as follows:

• Planning and executing validation projects to evaluate, and make recommendations to mitigate financial risk, such as model risk
• Evaluating the appropriateness of the proposed risk/valuation methodologies
• Develop, implement and use benchmark tools for analyzing and validating implementations of financial models.
• Documenting all findings in a validation reports
• Communicating expertise and recommendations both to the Model Validation management and to the corresponding lines of businesses on significant issues affecting the use of models and the level of model risk exposure of assets or portfolios under their management

As for me there are good alignment between them and description of responsibilities in NOC 1112

But after going to Jobbank site and comparing open positions available under NOC 1112 and NOC 4162 - I have a lot of doubts.

Because there are a lot of positions on this site with name Risk Management Analyst under NOC 4162.

Could advise with what NOC I can go with?

And also what will be consequences of uploading Employment Letter with the wrong NOC after I will receive ITA, especially if to take into consideration fact that they both are Skill Level A?

 

[jes_ON]

You haven't provided any contextual information, e.g. what kind of company/organization you work for, what industry, who the customer/clients are...

Generally - you do not chose an NOC based on job title (alone), but based on the best fit with the job duties/responsibilities AND the lead statement. As you can see, the lead statements are very different. Which fits your occupation the best?

Lead Statement for NOC 1112:
http://noc.esdc.gc.ca/English/noc/QuickSearch.aspx?ver=16&val65=1112

"Financial and investment analysts collect and analyze financial information such as economic forecasts, trading volumes and the movement of capital, financial backgrounds of companies, historical performances and future trends of stocks, bonds and other investment instruments to provide financial and investment or financing advice for their company or their company's clients. Their studies and evaluations cover areas such as takeover bids, private placements, mergers or acquisitions. Financial analysts are employed by a wide range of establishments throughout the private and public sector, such as banks, brokerage houses, insurance companies, investment companies, manufacturing firms, trust companies, utility companies and underwriting firms. Investment analysts are employed primarily by brokerage houses and fund management companies."

NOC 4162
http://noc.esdc.gc.ca/English/noc/QuickSearch.aspx?ver=16&val65=4162
"Economists and economic policy researchers and analysts conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets. They are employed by government departments and agencies and throughout the private sector in associations, unions, research organizations, banks and investment firms."

 

[demand510]

Thank you so much for your reply!

I work in BMO, in Enterprise Risk Portfolio Management Department in Model Validation Group.
I work mostly with Capital Markets Business units on approving their models for pricing different financial products.

Lead statement of 4162 seems more relevant then 1112, but responsibilities under 1112 is more in line.
I am still confused.

If I will upload employment letter with 1112 after ITA, but officer will suggest my job is under 4162 - I will got refusal?

 

[jes_ON]

Go with the duties. I would choose 1112 because of your employer. If you're still in doubt, write a letter of explanation (about the 2 NOCs and why you chose 1112).

 

[sirdba]

Dear All:

Thanks a lot to all of you for posting above the helpful discussion. I have also been working as Manager, Risk and Audit for a telecom company and Senior Risk Manager for World top NGO. What should I consider as NOC? Can you pls suggest? I am really confused. I tried to fit with above NOCs but failed.

Looking forward to your advice pls.

Best regards,

Sirdba

 

[SeniorStakes]

My current position sounds like Model Risk Specialist

I am applying for CEC under NOC 1112 (current job, 10 month can exp) and NOC 2171(6 month can exp.).

I already have employment letters with both NOCs stated.

My responsibilities in employment letter for NOC 1112 sound as follows:

• Planning and executing validation projects to evaluate, and make recommendations to mitigate financial risk, such as model risk
• Evaluating the appropriateness of the proposed risk/valuation methodologies
• Develop, implement and use benchmark tools for analyzing and validating implementations of financial models.
• Documenting all findings in a validation reports
• Communicating expertise and recommendations both to the Model Validation management and to the corresponding lines of businesses on significant issues affecting the use of models and the level of model risk exposure of assets or portfolios under their management

As for me there are good alignment between them and description of responsibilities in NOC 1112

But after going to Jobbank site and comparing open positions available under NOC 1112 and NOC 4162 - I have a lot of doubts.

Because there are a lot of positions on this site with name Risk Management Analyst under NOC 4162.

Could advise with what NOC I can go with?

And also what will be consequences of uploading Employment Letter with the wrong NOC after I will receive ITA, especially if to take into consideration fact that they both are Skill Level A?

Hi - did you finally go with 1112 or 4162? Please guide