Other Financial Officers
(NOC 1114)
in All Business, Finance, and AdministrationThis group includes professional jobs in finance not elsewhere classified such as 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.
Job Outlook
Good
Read more
Compared to: All Business, Finance, and Administration
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 significantly over the next few years, which will provide 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. Other Financial Officers most commonly work full-time hours. Furthermore, the jobs may either be permanent or temporary positions, as both are common.
The median employment income for 69% 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
$18.21
Minimum$26.44
Median$43.59
MaximumAnnual Pay
$12,494
Minimum$54,205
Median$167,988
MaximumCompared to: All Business, Finance, and Administration
Hourly Pay
$13.00
Minimum$21.03
Median$35.90
MaximumAnnual Pay
$6,754
Minimum$36,515
Median$70,271
MaximumAbout the job
Nature of work
This group includes professional jobs in finance not elsewhere classified such as 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.
Job duties
The following is a summary of main duties for some jobs in this group:
- 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 purchase and 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.
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
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
- A bachelor's degree in business administration, commerce, economics or a related field is usually required.
- Various training programs and courses are offered by financial institutes and organizations, such as 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, such as 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
While these kinds of positions require a high degree of training and qualifications, persons who occupy them must continually update their skills and pursue professional development. Progression to financial management positions is possible with experience.
By the numbers
Quick look
employed in 2016
employed full-time
self employed
median age
Compared to: All Business, Finance, and Administration
employed in 2016
employed full-time
self employed
median age
Where will I likely work?
Halifax
Annapolis Valley
Northern
Cape Breton
Southern
Compared to: All NS Occupations
Halifax
Northern
Annapolis Valley
Cape Breton
Southern
Top Industries of Employment
Finance, Insurance, Real Estate & Leasing
Public Administration
Other Professional Services
Professional Business Services
Management, Admin & Other Support
What is the age of Employment?
35-44
45-54
55-64
25-34
65+
15-24
Compared to: All Business, Finance, and Administration
45-54
55-64
35-44
65+
25-34
Top levels of education
Bachelor's degree
$40,088 median annual incomeCollege certificate or diploma
N/AHigh school
N/ADoctorate
N/AUniversity certificate or diploma
N/ACompared to: All Business, Finance, and Administration
College certificate or diploma
$33,837 median annual incomeHigh school
$30,074 median annual incomeBachelor's degree
$39,473 median annual incomeTrades certificate
$32,871 median annual incomeLess than high school
$23,775 median annual incomeEducation & 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
45 Ochterloney Street, Suite 100
Dartmouth, NS B2Y 2N6
(902) 463-6700
6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre
Halifax, NS B3L 4P1
(902) 455-3395
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
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
PO Box 550, 1 Main Street
Springhill, NS B0M 1X0
(902) 597-3737
372 Pleasant Street
Yarmouth, NS B5A 2L2
(902) 742-3501
236 Belcher Street
Kentville, NS B4N 0A6
(902) 678-7341
75 High Street
Bridgewater, NS B4V 1V8
(902) 543-4608
PO Box 820, 39 Acadia Avenue
Stellarton, NS B0K 1S0
(902) 752-2002
226 Reeves Street
Port Hawkesbury, NS B9A 2A2
(902) 625-2380
PO Box 1042, 1240 Grand Lake Road
Sydney, NS B1P 6J7
(902) 563-2450
36 Arthur Street
Truro, NS B2N 1X5
(902) 893-5385
80 Mawiomi Place
Dartmouth, NS B2Y 0A5
(902) 491-1100
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.
Institutions providing this program
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
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
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
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
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
236 Belcher Street
Kentville, NS B4N 0A6
(902) 678-7341
80 Mawiomi Place
Dartmouth, NS B2Y 0A5
(902) 491-1100
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.
Institutions providing this program
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
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
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
Employment requirements & contacts
Regulations
Right to Practice: This job is regulated in Nova Scotia. A licence shows that the holder has met provincial requirements and is required to work in this job.