Other Financial Officers

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.

Regulations

Contacts

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