Explained: Factors related to other Financial Officers (NOC 1114) jobs in Canada

To migrate to Canada and live a healthy and prosperous living, people look for the jobs that are in demand in Canada. And one among them is that of other Financial Officers (NOC 1114), which is highly regarded, competitive and growing. Under this NOC, comes the professional occupations in finance and not anywhere else. They would be credit union examiner, financial planners, financial investigator, financial underwriter, inspector in financial institutions, mortgage broker and trust officer. Let us now look at some of the relevant elements for this job –

Salary of other financial officers in Canada

People working under the job titles in this NOC are employed by banks, trust companies, investment firms, governments or they may be self-employed. The average salary of a financial officer in Canada would be CAD 66,082 per year. This figure may vary depending upon the province you are working in.

With experience, the salary may rise up to be CAD 111,479 annually. As per 2018 job bank wage report, the average salary of a financial officer in Canada would be CAD 52.20 on a higher scale and CAD 20.67, the lowest. Therefore, if you have planned your immigration under this NOC, you are going to be quite stable financially in the country. There are other perks, bonuses and incentives along with the salary, which again would vary as per the employer and your abilities.

Basic Job Duties under NOC 1114

Being a financial officer means holding a crucial and responsible position regarding the finances and proper investments. You may be responsible for allocating resources in investments, expenditures and other details involved in financial decisions. You will also have to prepare reports on the financial planning that has been executed and directives for future, and will also have to look after the creation of budget and accounting of the company.

The tasks of a financial officer would depend upon the level he or she stands in a company. Higher the position, more will be the responsibilities. Sometimes, you may have to travel for work or do overtime. You may also have to train others, provide financial guidance and management expertise related to company operations and financial strategy. Supervising and ensuring that accounting, budget and audit controls are in compliance with various rules and regulations stipulated by the Federal, Provincial and local governments are other responsibilities that comes along with these jobs.

How to be qualified under NOC 1114

As of the academic requirements, you need to have a bachelor’s degree in business administration, commerce and economics or in a relatable field. Further, the prospect seeking the job under the aforementioned job titles must have experience in accounting, financial advising and planning. An advanced degree in business could gain you extra favor, but that is not mandatory for all the jobs. Also, you need to have computer operability to handle accounting software or Microsoft Office, which are so common in use in almost every sphere of work.

You are also expected to be good in communication as you will have to be in continuous interaction with the clients and colleagues for various co-ordination and planning purposes. Some basic qualities of being patient and vigilant are of extreme help here. However, if you have a got as a financial officer in Canada, then you are going to have a rewarding and a wonderful career.

Job satisfaction in this sector

As already stated that these jobs are highly reputed, regarded and rewarding, there is no scope left that a person would not be satisfied under the jobs. And to augment the statement, various surveys conducted on employees working as financial officers in Canada have demonstrated high levels of satisfaction.

This satisfaction is not based on the salaries itself, but the progression that is possible with experience in these jobs. With the upgradation of the skills with time, one can pursue professional development in this career reaching to the top financial management positions.

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