Financial sales representatives

NOC

63102

sell basic deposit, investment and loan products and services to individuals and businesses.

Full NOC Description

Financial sales representatives sell basic deposit, investment and loan products and services to individuals and businesses. They work in banks, credit unions, trust companies and similar financial institutions.

Main Duties

This group performs some or all of the following duties:

Open new personal and non-personal accounts, and provide access to automated banking machine, telephone banking and online banking services

Interview applicants for personal, mortgage, student and business loans

Promote the sale of deposit, investment, credit and loan products and services

Assist clients by proposing solutions to address financial objectives such as business expansion, debt management, investment and other financial goals

Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan

Complete credit and loan documentation

Submit credit and loan applications to branch or credit manager with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected

Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action

Review and update credit and loan files

Act as joint custodian for cash and securities.

Also Known As

credit officer
financial services officer
financial services representative
loan officer
mortgage officer

sales associate - personal banking

Requirements

Employment Requirements

Completion of secondary school and extensive general banking experience is usually required.

A bachelor's degree or college diploma related to commerce or economics may be required.

A mutual funds licence is usually required.

Registration with the securities regulatory authority in the province or territory of employment is usually required.

Completion of a loan or credit training program, ranging from six to twelve months, is usually required.

Various training programs and courses are offered by the Canadian Securities Institute and may be required by employers.

Financial services officers who sell regulated financial products and investments are required to be licensed by the appropriate governing body.

Provincial Regulation

Not Provincially Regulated

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

69.1%

Female

30.9%

Male

Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

8.4%

15-24

23.0%

25-34

28.1%

35-44

25.3%

45-54

12.9%

55-64

2.2%

65+

Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

1.1%

No Certificate, Diploma or Degree

23.6%

High School, Diploma or Equivalent

3.9%

Apprenticeship or Trades Certificate or Diploma

35.4%

College or University Below Bachelor Level

36.0%

University - Bachelor Level or Above

Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

85.4%

Finance and insurance

2.8%

Transportation and warehousing

2.8%

Administrative and support, waste management and remediation services

9.0%

All Other Industries

Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

8.30%

Northeast

37.80%

Southeast

16.70%

Southwest

29.40%

Central

7.80%

Northwest

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Average Salary by Economic Regions

The following graph shows the average salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

$60,000

Northeast

$62,800

Southeast

$71,000

Southwest

$48,000

Central

$50,000

Northwest

Economic Regions

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Salary

The following shows the average salary of everyone who worked full-time and year-round in this occupation across each of the Atlantic Provinces and nationally.

Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Occupational Profiles