Financial Sales Representatives
(NOC 6235)
in All Sales and ServiceFinancial 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.
Job Outlook
Average
Read more
Compared to: All Sales and Service
The employment outlook over the next few years for this occupational group is “average”, which indicates the chances of a qualified individual finding work is comparable to the average for all occupations in Nova Scotia. This is a fairly large occupation in Nova Scotia so job opportunities occur fairly regularly. The number employed in this occupation is expected to grow moderately over the next few years, which will likely provide some additional opportunities for employment. With a large percent of workers being 55 years of age and older, retirements are expected to be a key contributor to employment opportunities over the coming years. Financial Sales Representatives most commonly work full-time hours. Furthermore, the jobs are typically permanent positions.
The median employment income for 70% of Financial Sales Representatives who worked full-time, year-round in 2015 was $46,006. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)
Hourly Pay
$13.75
Minimum$20.51
Median$34.62
MaximumAnnual Pay
$16,320
Minimum$42,590
Median$77,015
MaximumCompared to: All Sales and Service
Hourly Pay
$12.55
Minimum$12.55
Median$21.17
MaximumAnnual Pay
$2,949
Minimum$16,629
Median$45,086
MaximumAbout the job
Nature of work
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.
Job 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.
Sample job titles
- consumer credit officer
- credit analyst
- debt counsellor
- financial services representative
- loan officer
- mortgage consultant
- mortgage loans officer
- personal banker
- personal banking representative
- personal loans officer
Skills
To work in this field, you should have excellent organizational, analytical, and communication skills, both oral and written. Good judgement, integrity, and persistence are important. You must have an aptitude for mathematics and be capable of detailed and precise work. Business skills are essential.
Job requirements
- Completion of high 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 Institute of Canadian Bankers 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.
Other considerations
Progression to higher levels of financial planning and wealth management is possible with experience. Progression to credit and loan management positions is possible with experience.
By the numbers
Quick look
employed in 2016
employed full-time
self employed
median age
Compared to: All Sales and Service
employed in 2016
employed full-time
self employed
median age
Where will I likely work?
Halifax
North Shore
Annapolis Valley
Southern
Cape Breton
Compared to: All NS Occupations
Halifax
North Shore
Annapolis Valley
Cape Breton
Southern
Top Industries of Employment
Finance, Insurance, Real Estate & Leasing
Public Administration
Information, Culture & Recreation
Retail Trade
Professional Business Services
What is the age of Employment?
35-44
25-34
45-54
55-64
15-24
65+
Compared to: All Sales and Service
25-34
35-44
55-64
Top levels of education
Bachelor's degree
$32,802 median annual incomeCollege certificate or diploma
$22,255 median annual incomeHigh school
$21,860 median annual incomeDoctorate
N/AUniversity certificate or diploma
N/ACompared to: All Sales and Service
High school
$12,982 median annual incomeCollege certificate or diploma
$19,514 median annual incomeLess than high school
$9,486 median annual incomeBachelor's degree
$20,807 median annual incomeTrades certificate
$18,797 median annual incomeEducation & training
Adult high school/secondary diploma programs
This program is typically offered at the high school level.The Nova Scotia School for Adult Learning (NSSAL) administers, coordinates, and supports the development and delivery of adult education programs through learning partners in Nova Scotia. Our learning partners include the Nova Scotia Community College, Adult High Schools, Université Sainte-Anne, and community-based learning organizations that offer tuition-free programming across the province. NSSAL offers clear, accessible pathways from adult basic education to a high school credential or GED, empowering Nova Scotians to achieve their learning and employment goals.
Institutions providing this program
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
PO Box 220
Halifax, NS B3J 2M4
(866) 679-6722
Various, NS
Various, NS
Business/commerce - General
This program may be offered at the college, trades, or university level.This instructional program class includes any program that focuses on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. The program prepares individuals to apply business principles and techniques in various occupational settings.
Institutions providing this program
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
Economics - General
This program is typically offered at the college or university level.This instructional program class includes any general program that focuses on the systematic study of the production, conservation and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. These programs include courses in economic theory, microeconomics and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.
Institutions providing this program
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
Employment requirements & contacts
No regulating bodies were found under this occupation profile
Contacts
Additional resources
There are no additional resources for this occupation.