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NOC Code: NOC Code: 1114 Occupation: Other Financial Officers
Occupation Description: Occupation Description:
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. 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.

  • Click on any of the Essential Skills to view sample workplace tasks for this occupation.
  • Skill levels are assigned to tasks: Level 1 tasks are the least complex and level 4 or 5 tasks (depending upon the specific skill) are the most complex. Skill levels are associated with workplace tasks and not the workers performing these tasks.
  • Scroll down the page to get information on career planning, education and training, and employment and volunteer opportunities.

Table will display the Skill Level for the Noc specified
Essential Skills Essential Skills Levels
Reading Text Reading Text 1 2 3 4
Writing Writing 1 2 3 4
Document Use Document Use 1 2 3
Computer Use Computer Use 1 2 3
Oral Communication Oral Communication 1 2 3 4
Money Math Money Math 1 2 3
Scheduling or Budgeting and Accounting Scheduling or Budgeting and Accounting 1 2 3 4
Data Analysis Data Analysis 1 2 3
Numerical Estimation Numerical Estimation 1 2
Job Task Planning and Organizing Job Task Planning and Organizing 1 2 3
Decision Making Decision Making 1 2 3
Problem Solving Problem Solving 1 2 3
Finding Information Finding Information 1 2 3
Critical Thinking Critical Thinking 1 2 3 4


  • The skill levels represented in the above chart illustrate the full range of sample tasks performed by experienced workers and not individuals preparing for or entering this occupation for the first time.
  • Note that some occupational profiles do not include all Numeracy and Thinking Essential Skills.

If you would like to print a copy of the chart and sample tasks, click on the "Print Occupational Profile" button at the top of the page.


Reading Text
  • Read short text entries in forms. For example, mortgage underwriters may read special instructions given by brokers in mortgage loan applications. (1)
  • Read memos and letters. For example, read memos about policy changes from workers in financial institutions. Mortgage brokers read letters from employers about mortgage loan applicants. They read these letters to verify applicants' employment status, years of service, incomes and bonuses. They also read acceptance and refusal letters from lenders and lending institutions. (2)
  • Read terms and conditions in contracts and application forms. For example, financial planners may review disability definitions, and accident and illness coverage clauses in several disability insurance policies to determine which policies best suit specific clients' needs. Mortgage brokers review terms and conditions in mortgage loan application forms. They are required to understand these terms and conditions so that they can knowledgably answer questions from clients. (3)
  • Read newspapers, trade publications, bulletins and newsletters to maintain current knowledge of matters affecting finance. For example, read newspapers to learn about business world events and economic trends. Financial planners and trust administrators may read 'buy' recommendations from industry specialists to identify investment opportunities in technology, alternate energy, resources and health. They may also read magazine articles about tax and estate planning. Mortgage brokers may read lending institutions' bulletins about new types of financing and mortgage terms, rates and amortization formulas. They may also read about mortgage market trends in the Mortgage Journal. (3)
  • Read procedure manuals and guides. For example, mortgage brokers may read residential mortgage lending guidelines to review qualification procedures for different property types and locations and applicants' credit histories. Financial planners may read insurance providers' guidelines for practices such as receiving cash payments and offering rebates. (3)
  • Read laws and regulations governing the work. For example, financial planners in Quebec may review the Regulation respecting the pursuit of activities as a representative and the Act respecting the distribution of financial products and services to verify their legal obligations towards clients. Estate and trust administrators may review regulations governing the transfer of assets to determine how to divide the estate between family members in the absence of a testament. Financial investigators may review securities and commodity futures laws to determine if they have been breached by agents and organizations which trade in securities and commodity futures. (4)
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Writing
  • Write reminders, notes to co-workers and short text entries in forms. For example, mortgage brokers may write brief explanations on mortgage loan applications and pre-approval forms. (1)
  • Write memos, notices and letters. For example, mortgage underwriters may write memos to brokers to outline concerns about loan applications and to request further information. Mortgage brokers may write letters to inform pre-approved clients of income and down payment verification procedures, credit bureau checks, conditions to be satisfied and actions to be taken to obtain unconditional approvals. Financial planners may write letters to clients to confirm purchases of investment and insurance products and to provide updates on current holdings. Estate and trust administrators may write letters to insurance brokers to claim death benefits for clients. They may also write death notices to credit and debit card issuers, creditors and workers in government departments. (2)
  • Write risk management summaries which include justifications of recommendations and decisions for financial institutions and insurance companies. For example, mortgage brokers write summaries of special circumstances which justify their recommendations to approve mortgage loan applications for clients whose credit histories and debt service ratios do not meet minimum standards. (3)
  • Write proposals, prospectuses and management plans. For example, financial underwriters write prospectuses for initial public offerings of stocks and bonds. Financial planners and trust administrators write plans in which they discuss clients' options for cash management, insurance coverage, investments, retirement and estate planning. Mortgage brokers write proposals for large mortgage loans for income-producing properties such as office and apartment buildings. They must address clients' needs and convey complex financial concepts in an effective manner. (4)
  • Write reports. For example, financial examiners and inspectors write reports in which they evaluate breaches of laws by financial and insurance institutions. They describe evaluation methodologies, discuss findings, offer conclusions and outline necessary corrective measures. (4)
  • Prepare legal agreements. For example, estate and trust administrators may draft agreements to act as attorneys of testamentary executors and trustees. They write clauses to specify matters such as mandates and termination. They must be explicit and precise to ensure that all concerned parties share a common understanding of agreement terms and conditions. (4)
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Document Use
  • Locate data on labels. For example, scan labels on file folders for clients' names, addresses and identification numbers. (1)
  • Enter data into lists, tables and schedules. For example, enter items to be discussed into meeting agendas. Enter clients' names and phone numbers into daily planners and appointment schedules. Financial planners and trust administrators may enter investment income and disbursement data into tables. (2)
  • Locate data in lists, tables and schedules. For example, mortgage brokers may scan outstanding conditions checklists to identify documents yet to be received from mortgage loan applicants. They may scan tables to locate mortgage rates for different terms. Trust administrators and financial planners, examiners and inspectors may scan fund profile tables to locate dividends and reinvestment prices for each month. (2)
  • Locate data in entry forms. For example, mortgage brokers may scan credit bureau forms to locate accounts which are opened, closed, in good standing and past due. They may also note the numbers of inquiries in the last twelve months. Financial planners and trust administrators may scan clients' financial needs analysis questionnaires to locate data on income sources and goals, expected retirement ages, retirement assets and contributions, insurance coverage and immediate cash needs. (3)
  • Complete applications and other forms. For example, financial planners and trust administrators may enter account types, data on plan holders, beneficiary designations and selected funds' numbers and names into investment application forms. Mortgage loan brokers may enter property descriptions, addresses, sizes and applicants' names, employment histories and financial situations into mortgage loan application forms. (3)
  • Locate data and identify trends in graphs. For example, mortgage loan brokers may scan graphs to identify trends in interest rates for variable and fixed rate mortgages. Trust administrators and financial planners, examiners and inspectors may locate data about the asset allocations, sector weightings and geographic compositions of investment portfolios by studying fund profile graphs. They may also scan graphs to verify investments' growth over time. (3)
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Computer Use
  • Use email programs to exchange messages and attached documents with clients, co-workers and colleagues. Create and maintain email distribution lists. (2)
  • Use Internet browsers such as Explorer to access corporate websites, obtain information about financial and insurance products, services, policies and procedures and download application forms. Financial planners and trust administrators may use these browsers to verify the status of funds. Mortgage brokers may use these browsers to access credit bureau websites and perform credit checks on clients. (2)
  • Use databases. For example, mortgage brokers may enter, update and retrieve mortgage loan applications, value assessments of assets and liabilities and other data on clients from lending institutions' databases. Financial planners may enter, update and retrieve investment and insurance applications from databases found on corporate websites. Trust administrators may enter, update and retrieve investment income and disbursement data from proprietary databases. They may also search, display and print data from these databases. (2)
  • Use spreadsheets. For example, mortgage brokers may create spreadsheets to display interest rate and mortgage loan repayment calculations. Financial planners may create spreadsheets to track data on clients and sales of financial products and services. Trust administrators may create spreadsheets to manage trust accounts. They embed formulas to perform calculations. (3)
  • Use bookkeeping and accounting software. For example, mortgage brokers may calculate monthly capital and interest payments, amortization periods and remaining balances using mortgage calculation programs such as Mortgage Wizard Plus. Financial planners may calculate annual savings needed and other financial data using retirement calculation programs such as Otar Retirement Calculator. They may also analyse clients' needs and goals and generate financial scenarios and plans using financial planning programs such as Wealth Creator and Portfolio Publishing Financial Solutions. Trust administrators may record financial transactions and prepare balance sheets, income and expense statements and statements of cash flows for estate, personal, charitable, corporate and other trusts using proprietary accounting programs. (3)
  • Use graphics software. For example, create slide shows using presentation software such as PowerPoint. In order to develop effective presentations for co-workers, colleagues, clients and community groups, import graphs, scanned images, word processing files and spreadsheets. (3)
  • Write, edit and format memos, notices, letters, risk management summaries, proposals, plans, evaluation reports and legal agreements using word processing programs such as Word. Supplement text with imported logos, letterheads, photographs and tables. (3)
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Oral Communication
  • Discuss job task coordination with co-workers and colleagues. For example, mortgage underwriters may ask office secretaries to retrieve loan applications from clients' files. Mortgage brokers may respond to real estate agents' enquiries about the approval of clients' mortgages. (1)
  • Solicit business opportunities from clients, prospective clients and colleagues. For example, financial planners convince prospective clients that they would benefit from cash management, insurance, investment, retirement, tax and estate planning services. Mortgage brokers interact with real estate agents, builders, receivers, accountants, lawyers and Quebec notaries to exchange information and obtain referrals for mortgage loan services. (2)
  • Discuss complex financial and insurance matters with co-workers and colleagues. For example, financial planners may discuss new financial and insurance products, rates and application procedures with investment fund and insurance providers. (3)
  • Advise clients. For example, financial planners help clients to identify their life goals and advise them on financial and insurance strategies, products and investments which will help them reach these goals. Trust administrators advise individuals about the preparation of wills, estate planning and succession settlement, and act as executors, trustees and guardians in estate and family law matters. Mortgage brokers interview clients to collect income, asset and liability data needed for mortgage loan applications. They answer questions and alleviate concerns. They counsel applicants who did not qualify due to unsatisfactory credit and recommend actions which would increase their chances of approval in the future. (3)
  • Make presentations to co-workers, colleagues, clients and community groups. For example, a trust administrator may speak before residents in a retirement home about the benefits of appointing a trust company as estate executor. A mortgage broker may talk to a group of new home buyers at a trade show about the procedures involved in acquiring a mortgage. The mortgage broker may need to adapt presentation style and language to fit audiences that are unfamiliar with the topics presented. (4)
  • Testify as expert witnesses at trials and hearings. For example, financial examiners and inspectors testify about breaches of laws by banks, credit unions, caisses populaires, pension funds and trust, credit, real estate and insurance companies. Financial investigators testify about breaches of securities and commodity futures laws by persons and companies which trade in securities and commodity futures. (4)
  • Negotiate agreements. For example, financial underwriters negotiate agreements with corporations and governments about the types, rates and terms of new securities. Mortgage brokers negotiate mortgage loan agreements with lenders and underwriters from lending institutions on behalf of their clients. They use persuasive arguments to convince lenders and underwriters to approve mortgage loan applications for clients whose credit histories and debt service ratios do not meet minimum standards. (4)
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Money Math
  • Calculate and verify purchase order and invoice amounts. For example, calculate line amounts, taxes and totals on purchase orders for office supplies. (3)
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Scheduling or Budgeting and Accounting
  • Compare the prices of goods and services offered by banks, insurance companies and other financial institutions. For example, mortgage brokers compare interest rates and repayment plans among lending institutions to determine which cost the least. Financial planners compare insurance premiums for similar coverage. (2)
  • Set personal appointment schedules. For example, mortgage brokers create personal appointment schedules to ensure that mortgage loan sales are met. They may need to adjust their schedules because of unexpected events. (2)
  • Reconcile bank and trust fund accounts. For example, estate administrators calculate income amounts to be collected on behalf of the deceased, credits to trust accounts and debits for debt payments and transfers of legacy shares to heirs. Trust administrators calculate receivable income and disbursement amounts for personal, charitable, corporate and other trust funds. (3)
  • Calculate commission amounts. For example, financial planners who sell financial products may multiply their current portfolios' transaction amounts by commission percentage rates, calculate applicable sales taxes and add bonuses for new portfolios. (3)
  • Calculate amounts for various borrowing, repayment and investment strategies and assumptions. For example, mortgage brokers calculate monthly capital and interest payments on clients' mortgages. They consider variables such as total mortgage loan amounts, amortization periods, terms, interest rates and payment frequencies. They calculate amounts and repayment times for various loan types, terms and conditions. They may calculate the total amounts of interest clients can save by discharging current mortgages and getting new mortgages at lower interest rates. They may also calculate the reduction in loan periods clients can achieve by changing repayment plans from monthly to biweekly payments. They may have to take penalty costs into account. Financial planners calculate insurance amounts required to cover the needs of clients' families and investment amounts for clients' retirement incomes. They perform these calculations using various inflationary and interest rate scenarios. (4)
  • Prepare income tax returns. For example, trust administrators may prepare income tax returns on behalf of the deceased. They calculate gross incomes by adding all sources of revenue and a variety of deductions such as registered retirement and pension plan contributions, union dues, financial fees and capital gains. They also calculate net and disposable incomes. They refer to taxation tables to determine net taxes and subtract taxes already paid to obtain amounts due and owed. In some provinces, they have to prepare both federal and provincial income tax returns. (4)
  • Calculate amounts for financial statements. For example, trust administrators calculate amounts for balance sheets, income and expense statements and statements of cash flows for estates, personal, charitable, corporate and other trusts. (4)
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Data Analysis
  • Collect, analyse and interpret data on clients in order to issue recommendations for approval or rejection of applications for financial products and services. For example, mortgage brokers collect employment, income, asset and liability data from mortgage loan applicants. They collect credit bureau data on accounts which are opened, closed, in good standing and past due. They calculate debt service and other ratios. They compare these ratios to ranges established by lending institutions. These calculations and analyses help them draw conclusions about clients' abilities to repay their mortgage loans. (3)
  • Collect, analyse and interpret financial data on individual and corporate performances, trends and patterns. For example, mortgage brokers may calculate numbers of mortgage loans obtained, mortgage sales generated and numbers of prospects called, met, referred, pre-approved and approved. They may calculate mortgage loan approval and rejection rates and average loan amounts. They may also interpret these rates and amounts to assess individual performance and deviations from performance targets. (3)
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Numerical Estimation
  • Estimate times needed to perform job duties. For example, financial planners and mortgage brokers may estimate times needed to visit clients using past experience as a guide. They estimate travelling times between clients' properties to minimize driving and maximize the numbers of clients handled each day. (2)
  • Estimate sales volumes for upcoming seasons. For example, mortgage brokers and financial planners consider market trends, the strength of the economy and the general business climate to predict sales opportunities that will be available to them. (2)
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Job Task Planning and Organizing
  • Financial officers from this unit group plan and organize their job tasks to meet clients' needs and financial institutions' requirements. Their ability to manage priorities, schedule their own activities and coordinate them with those of others is critical to their jobs. Missing and inaccurate information, equipment failures and unforeseen circumstances may force them to reorganize job tasks. Financial officers from this unit group play a central role in organizing, planning, scheduling and monitoring the provision of financial services by their organizations. They may contribute to long-term and strategic planning for their organizations. They may be responsible for assigning tasks to other financial officers, clerks, secretaries and receptionists. (3)
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Decision Making
  • Select individuals and organizations to approach for business collaborations. For example, mortgage brokers select real estate agents, builders, receivers, accountants, lawyers and Quebec notaries to approach to solicit business. They start by approaching the ones they feel will be the most beneficial for their businesses. They build other partnerships as needs arise. (2)
  • Approve and reject applications for financial products and services. Select risk management techniques and conditions which must be satisfied by applicants and brokers before funds are issued. For example, mortgage underwriters approve and reject mortgage loan applications, with or without conditions. They consider insurers' guidelines, property types and locations, the employment and credit histories of the applicants, the risk that mortgage loans will not be repaid and recommendations issued by mortgage brokers. (3)
  • Select clauses to include in legal agreements. For example, estate and trust administrators select clauses to stipulate details such as mandates and terminations in agreements to act as attorneys of testamentary executors and trustees. They use their professional knowledge to serve their clients' best interests in the full respect of the law. (3)
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Problem Solving
  • Find that important information is missing from clients' files. For example, mortgage underwriters may find that information about assets and liabilities is missing from loan applications received from brokers. They contact the latter by phone and email to request the missing financial information. (1)
  • You are unable to answer clients' questions about new financial and insurance products and services. In such instances, search the Internet for information needed to answer clients' questions. Consult co-workers and colleagues and call support hotlines as necessary. (1)
  • Job tasks cannot be completed as planned because equipment is not working properly. For example, a trust and estate administrator about to print out a legal agreement for a client realizes that the printer is not working. The administrator tries to troubleshoot the printer with the assistance of co-workers. When these troubleshooting efforts are unsuccessful, the administrator phones the client to explain the delay. (2)
  • Discover that data obtained from clients do not match those shown on credit bureau reports. Ask further clarification questions to determine whether clients are telling the truth. Investigate other explanations such as identity thefts for discrepancies. If it is discovered that incorrect data has been obtained from credit bureaus, ask clients to request changes to their records. (3)
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Finding Information
  • Find information about clients. For example, find credit information on clients by interviewing them and searching credit bureau websites. (2)
  • Find information about new products, services, rates, procedures and guidelines. For example, financial planners find information about new financial and insurance products, rates and application procedures by consulting investment fund and insurance providers and by searching corporate periodicals and websites. Mortgage brokers find information about new types of financing and mortgage terms, rates and amortization formulas by searching lending institutions' bulletins and websites. (3)
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Critical Thinking
  • Evaluate the completeness and accuracy of data collected from clients. For example, mortgage brokers review completed mortgage loan application forms to ensure they contain all needed information. They review credit bureau report data to ascertain that they match data collected from clients and identify discrepancies. (2)
  • Assess the risks associated with financial product applications. For example, mortgage brokers assess the credit worthiness of clients applying for mortgage loans. They collect asset and liability data from clients and judge their characters during interviews. They conduct credit and reference checks. They verify each client's current employment status, job stability and income. They draw conclusions about clients' abilities to repay mortgage loans. They write risk management summaries for mortgage underwriters in which they justify their conclusions and approval recommendations. (3)
  • Evaluate the suitability of financial products and services for specific clients. For example, financial planners and trust administrators may assess the advantages and disadvantages of options for clients' cash management, finances, insurance coverage, investments and retirement and estate planning. Mortgage brokers identify the financial implications of several mortgage products for specific clients. They question clients to assess their financial needs and mortgage knowledge. They verify whether clients are concerned about future increases in interest rates and how long they are expecting to keep their properties before selling them. Mortgage brokers interpret clients' answers to narrow down product options to mortgage types and terms that best suit clients' profiles. (3)
  • Lead teams which assess the ethical conduct of financial services and institutions and their compliance with laws and regulations. For example, financial examiners and inspectors assess the degree to which banks, credit unions, caisses populaires, pension funds and trust, credit, real estate and insurance companies comply with governing legislation and regulations. Financial investigators assess the ethical conduct of agents and companies which trade in securities and commodity futures and their compliance with laws and regulations. They determine evaluation criteria. They collect and analyse quantitative and qualitative data on these criteria. They write reports in which they describe evaluation methodologies, discuss findings, offer conclusions and recommend corrective measures. (4)
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