Archive - Financial Managers (NOC 0111)

Published: 2 October 2014
You are in the archive section. Content on this page may no longer be valid.

If you are interested in working as a Financial Manager in Canada in trade, broadcasting, and other services, you will be pleased to know that the job outlook for your occupation in Canada is healthy.

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

financial-manager

Important statistics for this occupation:

  • Financial managers have the potential for advancement to senior management positions, such as vice-president of finance.
  • The majority of new job openings in this field will result from retirements, since workers in this field are typically older than average.
  • Expansion demand and stabilization of public finances will also increase the number of opportunities available in this field.
  • Many newcomers to this field come from other professions such as the school system and public administration.
  • Candidates with considerable experience in finance, public administration, or business, along with solid management skills, will be good candidates for this occupation.
  • Financial managers are always needed in Canada’s major cities. However, many smaller cities and towns across Canada are experiencing economic booms and are in need of experienced financial managers to lead new and expanding companies.
  • The median yearly income for a Financial Manager is $80,000 in Canada, with high incomes reported in the range of $130,000.

Duties for Financial Managers

Financial managers work in financial and accounting departments, planning, organizing, directing, controlling and evaluating operations. They develop and implement the financial policies and systems of establishments. Financial managers also set performance standards and prepare reports for senior management. They are employed in financial and accounting departments in companies throughout the private sector and in government.

Description of Main Duties

Financial Managers perform some or all of the following duties:

  • Plan, organize, direct, control and evaluate the operation of an accounting, audit or other financial department
  • Develop and implement the financial policies, systems and procedures of an establishment
  • Prepare or co-ordinate the preparation of financial statements, summaries, and other cost-benefit analyses and financial management reports
  • Co-ordinate the financial planning and budget process, and analyze and correct estimates
  • Supervise the development and implementation of financial simulation models
  • Evaluate financial reporting systems, accounting procedures and investment activities and make recommendations for changes to procedures, operating systems, budgets and other financial control functions to senior managers and other department or regional managers
  • Recruit, organize, train and manage staff
  • Act as liaison between the organization and its shareholders, the investing public and external financial analysts
  • Establish profitability standards for investment activities and handle mergers and/or acquisitions
  • Notify and report to senior management concerning any trends that are critical to the organization's financial performance

Example job titles for Financial Managers:

  • Controller
  • Director – financial services
  • Director of accounting
  • Finance director
  • Financial administrator
  • Manager, financial control
  • Manager, financial planning and analysis
  • Manager, internal audit services
  • Treasurer

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

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