1114 - Other financial officers

This unit group includes professional occupations 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.
Illustrative example(s)
o account manager
o credit adjudicator
o credit unions examiner
o estate and trust administrator
o financial investigator
o financial planner
o financial underwriter
o inspector, financial institutions
o mortgage broker
o trust officer
All examples
Exclusion(s)
o Economic development officers !ee "#$% &usiness development officers
and marketing researchers and consultants'
o Economists !ee "#$( Economists and economic policy researchers and
analysts'
o )inancial and investment analysts ###('
o *anagers in financial and business services +#('
o !ecurities agents, investment dealers and brokers ###%'
Main duties
The following is a summary of main duties for some occupations in this unit
group,
o )inancial planners develop personal financial plans for clients covering
cash management, finances, insurance coverage, investments, retirement
and estate planning, taxes and legal matters- analy.e 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
0uality and profitability- and help to expand business and attract new
clients.
o )inancial 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.
o )inancial 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.
o )inancial 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.
o 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.
o *ortgage 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.
Employment requirements
o A bachelor/s degree in business administration, commerce, economics or a
related field is usually re0uired.
o 1arious training programs and courses are offered by financial institutes
and organi.ations, such as the 2anadian !ecurities 3nstitute, 3nstitute of
2anadian &ankers, 3nstitute of 2hartered )inancial Analysts, 3nvestment
)unds 3nstitute, 2anadian 3nstitute of )inancial 4lanning, and Trust
2ompanies 3nstitute of 2anada, and may be re0uired by employers.
o The designation 4ersonal )inancial 4lanner, awarded by the )inancial
4lanners !tandards 2ouncil of 2anada, may be re0uired.
o )inancial planners who sell regulated financial products and investments,
such as annuities, 55!4s and life insurance, are re0uired to be licensed by
the appropriate governing body.
o )inancial examiners and inspectors may re0uire a recogni.ed accounting
designation.
o *ortgage brokers re0uire a real estate licence in 6uebec and a mortgage
broker licence in 7ewfoundland and 8abrador, 7ova !cotia, 9ntario,
*anitoba, !askatchewan, Alberta and &ritish 2olumbia.
Additional information
o 4rogression to financial management positions is possible with
experience.
o :hile these kinds of positions re0uire a high degree of training and
0ualifications, persons who occupy them must continually update their
skills and pursue professional develop