Banking, Credit, and Other Investment Managers
(NOC 0122)
in All ManagementBanking, credit and other investment managers plan, organize, direct, control and evaluate the activities of financial organizations or operational departments, or credit departments in commercial businesses. They oversee business development and manage overall performance in line with strategic directions and policies. Banking managers work for banks, trust companies and credit unions. Credit managers work for credit departments in department stores, utility companies, car dealerships, insurance companies or other commercial organizations. Other investment managers work for credit card companies, consumer loan companies, mutual fund investment firms, mortgage investment companies or other financial businesses that extend loans and financing and investments.
Job Outlook
Average
Read more
Compared to: All Management
Hourly Pay
$31.25
Minimum$36.92
Median$68.65
MaximumAnnual Pay
$24,215
Minimum$67,265
Median$123,608
MaximumCompared to: All Management
Hourly Pay
$22.50
Minimum$43.80
Median$66.20
MaximumAnnual Pay
$10,632
Minimum$55,002
Median$124,014
MaximumAbout the job
Nature of work
Banking, credit and other investment managers plan, organize, direct, control and evaluate the activities of financial organizations or operational departments, or credit departments in commercial businesses. They oversee business development and manage overall performance in line with strategic directions and policies. Banking managers work for banks, trust companies and credit unions. Credit managers work for credit departments in department stores, utility companies, car dealerships, insurance companies or other commercial organizations. Other investment managers work for credit card companies, consumer loan companies, mutual fund investment firms, mortgage investment companies or other financial businesses that extend loans and financing and investments.
Job duties
Banking managers:
- Manage the branch operations of a bank, trust company, credit union or similar financial institution or of a department in a business responsible for administering personal and business loans, buying and selling securities, operating investment funds, administering trusts, settling estates or other related activities.
- Make sure the company's policies and procedures are followed according to guidelines and make recommendations for improvement.
- Network to develop business relations, promote the sale of loan, investment and other banking services and attract business and individual customers.
- Interview business and individual customers and respond to customer questions.
- Approve or reject loan and credit applications based on authorized limits.
- Monitor processing of loan applications and credit investigations.
- Oversee preparation of monthly financial and branch progress reports.
- Hire staff and identify their training needs.
Credit managers:
- Manage the activities of a credit department in an industrial or commercial organization.
- Administer corporate, commercial and personal loan accounts.
- Advise customers on the commercial and personal financial services related to their needs.
- Evaluate loan and credit applications and collateral and make recommendations.
- Approve or reject credit applications, establish credit limits and determine repayment plans or schedules according to authorized limits.
- Make sure overdue or delinquent accounts are paid.
- Make sure credit policies and procedures are followed according to guidelines and legislation.
- Prepare credit and loan reports.
- Hire credit staff and identify their training needs.
Sample job titles
- bank manager
- collection centre manager
- commercial banking manager
- corporate banking centre manager
- corporate services manager - banking, credit and investment
- credit card centre manager
- credit manager
- credit union manager
- mortgage and customer credit manager
- personal services manager - banking, credit and investment
- trust company manager
Skills
- You need strong leadership qualities and an ability to motivate others. You need excellent organizational, problem-solving, planning, and decision-making skills. You must have confidence and initiative, and you need excellent communication and interpersonal skills.
Job requirements
- A university degree or college diploma in business administration, commerce, economics or a related field.
- A master's degree in business administration, finance or management science may be required for the management of large commercial loans.
- Completion of company or other management training programs is usually necessary.
- Several years of experience within the industry, including supervisory experience, are required.
Other considerations
- Movement to senior management positions is possible with experience.
By the numbers
Quick look
employed in 2016
employed full-time
self employed
median age
Compared to: All Management
employed in 2016
employed full-time
self employed
median age
Where will I likely work?
Halifax
$75,796 median annual incomeNorth Shore
$61,901 median annual incomeSouthern
$74,680 median annual incomeAnnapolis Valley
$54,416 median annual incomeCape Breton
$63,462 median annual incomeCompared to: All NS Occupations
Halifax
North Shore
Annapolis Valley
Cape Breton
Southern
Top Industries of Employment
Finance and insurance
Retail trade
Professional, scientific and technical services
Administrative and support, waste management and remediation services
Wholesale trade
What is the age of Employment?
45-54
35-44
25-34
55-64
15-24
65+
Compared to: All Management
45-54
35-44
55-64
25-34
65+
Top levels of education
Bachelor
$76,080 median annual incomeHigh school
$54,988 median annual incomeCollege Diploma
$58,093 median annual incomeMaster
$101,341 median annual incomeDiploma Below Bachelor
$50,367 median annual incomeCompared to: All Management
Bachelor
$71,875 median annual incomeHigh school
$42,294 median annual incomeCollege Diploma
$50,256 median annual incomeMaster
$93,261 median annual incomeTrade Certification
$44,396 median annual incomeEducation & training
Business Administration and Management
College, Trades, or University ProgramThese programs prepare students to plan, organize, direct, and control the functions and processes of a firm or organization. They 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
Lower Sackville, NS
Halifax, NS
Wolfville, NS
Sydney, NS
Truro, NS
Various, NS
Business/Commerce
College, Trades, or University ProgramThese programs focus 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. They prepare students to apply business principles and techniques in various occupational settings.
Institutions providing this program
Economics
College or University ProgramThese programs focus 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. They 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
Wolfville, NS
Sydney, NS
Finance
College or University ProgramThese programs prepare students to plan, manage, and analyse the financial and monetary aspects and performance of business enterprises, banking institutions, or other organizations. They 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
Wolfville, NS
Sydney, NS
Various, NS
International Business
College or University ProgramThese programs prepare students to manage international businesses and/or business operations. They include courses in the principles and processes of export sales, trade controls, foreign operations and related problems, monetary issues, international business policy, and applications to doing business in specific countries and markets.
Institutions providing this program
Various, NS
Employment requirements & contacts
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Contacts
Additional resources
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