Other Financial Officers

(NOC 1114)

in All Business, Finance, and Administration

This group includes professional jobs in finance like as financial planners, financial examiners and inspectors, financial investigators, financial underwriters, mortgage brokers and trust officers. They work for banks, trust companies, investment firms and governments, or they may be self-employed.

Job Outlook

Good

Read more

  • Estimate Strong growth employment change, 2019-2021
  • Estimate 355 openings due to growth and retirements, 2018-2020
  • Estimate Low rate of unemployment in 2019

Compared to: All Business, Finance, and Administration

  • Estimate -1305 employment change, 2019-2021
  • Estimate 4210 openings due to growth and retirements, 2018-2020
  • Estimate rate of unemployment not available for these occupation.

The employment outlook over the next few years for this occupational group is “good”, which indicates the chances of a qualified individual finding work is better than average when compared to other 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 moderate percent of workers being 55 years of age and older, retirements are expected to contribute somewhat to employment opportunities over the coming years. Other Financial Officers most commonly work full-time hours. Also, a fair portion of the workforce is self-employed, so having the option to "work for yourself" may appeal to some individuals’ interests/motivations.

The median employment income for 68% of Other Financial Officers who worked full-time, year-round in 2015 was $59,099. 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

$20.00

Minimum

$26.44

Median

$48.08

Maximum

Annual Pay

$12,494

Minimum

$54,205

Median

$167,988

Maximum

Compared to: All Business, Finance, and Administration

Hourly Pay

$14.00

Minimum

$27.85

Median

$38.46

Maximum

Annual Pay

$6,754

Minimum

$36,515

Median

$70,271

Maximum

About the job

Nature of work

This group includes professional jobs in finance like as financial planners, financial examiners and inspectors, financial investigators, financial underwriters, mortgage brokers and trust officers. They work for banks, trust companies, investment firms and governments, or they may be self-employed.

Job 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 buying and selling financial products and investments and monitor the portfolio to make sure it is profitable.
  • Help to expand business and attract new clients.

Financial examiners and inspectors:

  • Review and examine banks, trust companies, credit unions, credit companies, real estate companies, insurance companies, pension funds, securities brokers and other financial services and institutions to make sure they comply 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 get information about income, liabilities and assets, and type, price and condition of property to be mortgaged, and negotiate mortgage loans with lenders on behalf of clients.

Sample job titles

  • account manager
  • estate executor
  • financial investigator
  • financial planner
  • financial services consultant
  • financial underwriter
  • mortgage broker
  • personal financial planner
  • securities analyst
  • trust officer

Skills

You should have excellent organizational, analytical, and communication skills, both spoken and written. Good judgement, integrity, and persistence are important. You must have mathematics skills and be capable of detailed and precise work. Business skills are essential.

Job requirements

  • A bachelor's degree in business administration, commerce, economics or a related field.
  • Training programs and courses are offered by financial institutes and organizations like the Canadian Securities Institute, Institute of Canadian Bankers, Institute of Chartered Financial Analysts, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.
  • The designation Personal Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required.
  • Financial planners who sell regulated financial products and investments like annuities, RRSPs and life insurance, are required to be licensed by the appropriate governing body.
  • Financial examiners and inspectors may require a recognized accounting designation.
  • Mortgage brokers require a mortgage broker licence in Nova Scotia.

Other considerations

Ongoing training and continuous skill updating is necessary in these roles. Movement to financial management positions is possible with experience.

By the numbers

Quick look

2,450

employed in 2016

92.2%

employed full-time

17.1%

self employed

42.7%
Icons/female Created with Sketch.
57.3%
Icons/male Created with Sketch.
47.1

median age

Compared to: All Business, Finance, and Administration

63,775

employed in 2016

78.4%

employed full-time

6.6%

self employed

73.4%
Icons/female Created with Sketch.
26.6%
Icons/male Created with Sketch.
47.9

median age

Where will I likely work?

67.0%

Halifax

10.8%

Annapolis Valley

9.0%

North Shore

7.1%

Cape Breton

6.1%

Southern

Compared to: All NS Occupations

47.0%

Halifax

15.6%

North Shore

12.9%

Annapolis Valley

12.7%

Cape Breton

11.8%

Southern

Top Industries of Employment

81.4%

Finance and insurance

5.9%

Professional, scientific and technical services

3.7%

Public administration

1.8%

Administrative and support, waste management and remediation services

1.3%

Real estate and rental and leasing

What is the age of Employment?

27.0%

45-54

22.0%

55-64

20.0%

25-34

20.0%

35-44

7.0%

65+

4.0%

15-24

Compared to: All Business, Finance, and Administration

26.3%

45-54

22.6%

55-64

19.4%

35-44

16.7%

25-34

7.5%

65+

Top levels of education

44.0%

Bachelor

$62,542 median annual income
21.0%

College Diploma

$48,408 median annual income
17.9%

High school

$50,911 median annual income
8.1%

Master

$83,698 median annual income
3.1%

Diploma Below Bachelor

$41,020 median annual income

Compared to: All Business, Finance, and Administration

33.8%

College Diploma

$36,304 median annual income
23.8%

High school

$32,903 median annual income
22.8%

Bachelor

$41,755 median annual income
5.8%

Apprenticeship

$34,807 median annual income
4.9%

Less than high school

$23,174 median annual income

Education & training

Business administration and management - General

This program may be offered at the college, trades, or university level.

This instructional program class includes any program that generally prepares individuals to plan, organize, direct, and control the functions and processes of a firm or organization. These programs include courses in management theory, human resources management and behaviour, accounting and other quantitative methods, purchasing and logistics, organization and production, marketing, and business decision-making.

Institutions providing this program

Maritime Business College

800 Sackville Drive

Lower Sackville, NS B4E 1R8

(902) 463-6700

Academy of Learning Career College - Halifax

6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre

Halifax, NS B3L 4P1

(902) 455-3395

Acadia University

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

Universite Sainte-Anne

Siège Social: 1695, Route 1

Pointe-de-l'Église, NS B0W 1M0

(902) 769-2114

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Nova Scotia Community College - Annapolis Valley Campus

50 Elliott Road

Middleton, NS B0S 1M0

(902) 825-3491

Nova Scotia Community College - Cumberland Campus

PO Box 550, 1 Main Street

Springhill, NS B0M 1X0

(902) 597-3737

Nova Scotia Community College - Burridge Campus

372 Pleasant Street

Yarmouth, NS B5A 2L2

(902) 742-3501

Nova Scotia Community College - Kingstec Campus

236 Belcher Street

Kentville, NS B4N 0A6

(902) 678-7341

Nova Scotia Community College - Lunenburg Campus

75 High Street

Bridgewater, NS B4V 1V8

(902) 543-4608

Nova Scotia Community College - Pictou Campus & School of Fisheries

PO Box 820, 39 Acadia Avenue

Stellarton, NS B0K 1S0

(902) 752-2002

Nova Scotia Community College - Strait Area Campus & Nautical Institute

226 Reeves Street

Port Hawkesbury, NS B9A 2A2

(902) 625-2380

Nova Scotia Community College - Marconi Campus

PO Box 1042, 1240 Grand Lake Road

Sydney, NS B1P 6J7

(902) 563-2450

Nova Scotia Community College - Truro Campus

36 Arthur Street

Truro, NS B2N 1X5

(902) 893-5385

Nova Scotia Community College - Ivany Campus

80 Mawiomi Place

Dartmouth, NS B2Y 0A5

(902) 491-1100

Nova Scotia Community College - Online Learning

Unit 37, 115 Chain Lake Drive

Halifax, NS B3S 1B3

(877) 491-6774

Business administration, management and operations - Other

This program may be offered at the college, trades, or university level.

This instructional program class includes any program not listed above that relates to Business Administration, Management and Operations.

There are no schools in Nova Scotia offering this program.

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

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Universite Sainte-Anne

Siège Social: 1695, Route 1

Pointe-de-l'Église, NS B0W 1M0

(902) 769-2114

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

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

Acadia University

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Finance - General

This program is typically offered at the college or university level.

This instructional program class includes any program that generally prepares individuals to plan, manage, and analyse the financial and monetary aspects and performance of business enterprises, banking institutions, or other organizations. These programs include courses in principles of accounting; financial instruments; capital planning; funds acquisition; asset and debt management; budgeting; financial analysis; and investments and portfolio management.

Institutions providing this program

Acadia University

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Nova Scotia Community College - Akerley Campus

21 Woodlawn Road

Dartmouth, NS B2W 2R7

(902) 491-4900

Investments and securities

This program is typically offered at the college or university level.

This instructional program class includes any program that prepares individuals to manage assets placed in capital markets, and related technical operations. These programs include courses in security analysis, debt and equity analysis, investment strategies, securities markets, computer-assisted research, portfolio management, portfolio performance analysis, and applications to specific investment problems and business situations.

There are no schools in Nova Scotia offering this program.

Non-profit/public/organizational management

This program may be offered at the college, trades, or university level.

This instructional program class includes any program that prepares individuals to manage the business affairs of non-profit corporations, including foundations, educational institutions, associations, and other such organizations, and public agencies and governmental operations. These programs include courses in business management, principles of public administration, principles of accounting and financial management, human resources management, taxation of non-profit organizations, and business law as applied to non-profit organizations.

Institutions providing this program

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Employment requirements & contacts

Regulations

Mortgage Broker

Right to Practice: This job is regulated in Nova Scotia. A licence shows that the holder has met provincial requirements and is required to legally do this work.

Regulating body:
Service Nova Scotia and Municipal Relations
Mail Room, 8 South, Maritime Centre 1505 Barrington Street
Halifax, NS B3J 3K5
(800) 670-4357
(902) 424-0720

Contacts

Financial Advisors Association of Canada
390 Queens Quay West, Suite 209
Toronto, ON M5V 3A2
Tel: (416) 444-5251
Fax: (416) 444-8031
Credit Institute of Canada
219 Dufferin Street Suite 216C
Toronto, ON M6K 3J1
Tel: (416) 572-2615
Fax: (416) 572-2619
Canadian Institute of Financial Planning
3660 Hurontario Street, Suite 600
Mississauga, ON L5B 3C4
Tel: (866) 933-0233
Fax: (647) 723-6457
Canadian Securities Institute
200 Wellington Street West, 15th Floor
Toronto, ON M5V 3C7
Tel: (866) 866-2601
Fax: (866) 866-2660
CFA Institute
915 East High Street 
Charlottesville, VA - USA 22902
Tel: (800) 247-8132
Fax: (434) 951-5262

Job postings

There are currently no job postings for this occupation.