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Other Financial Officers  (NOC 1114)
London Region
Description |  Titles |  Duties |   Related Occupations

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.

credit unions examiner, estate and trust administrator, financial investigator, financial planner, financial underwriter, inspector, financial institutions, mortgage broker, trust officer.

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The following is a summary of main duties for some occupations in this unit group:
  • Financial planners develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters; analyze 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 sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability; and help to expand business and attract new clients.
  • Financial 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.
  • Financial 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.
  • Financial 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.
  • 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.
  • Mortgage 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.
Included Cities in Region | Service Canada Offices

London, St. Thomas, Woodstock, Aylmer, Ingersoll, Parkhill, Strathroy, Tillsonburg, Belmont, Erie Rest, Grimmonds Beach, Invererie Heights, Lyndale, Lynhurst, Mitchell Heights, Mount Brydges, North Ward, Orchard Beach, Port Stanley

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View a list of Service Canada offices in this area.

Outlook & Prospects for Other Financial Officers in London Region

The future forecast and current conditions for an occupation can vary based on location or due to changes in the economy, technology, or demand for a product or service.

National Outlook – 10-Year Projection (2011-2020)

This section provides labour demand and labour supply projections for this occupation over the 2011-2020 period.

Note: The tables, graphs and middle paragraph shown under this section display updated 2011-2020 projection results. The remaining narrative text (2009-2018 projections) will be updated shortly. We apologize for the inconvenience.

The data in the following table are derived from HRSDC’s Canadian Occupational Projection System (COPS). COPS uses a variety of models to produce a detailed 10-year labour market projection per broad skill level and per occupation at the national level, which focuses on the trends of labour supply and labour demand over the next ten years.

This occupation (Other Financial Officers) is part of a larger occupational group called Auditors, Accountants and Investment Professionals (NOC 111).

Table on the demographic profile for your chosen occupation at the national level.
Occupations in this group Financial Auditors and Accountants (1111) 
Financial and Investment Analysts (1112) 
Securities Agents, Investment Dealers and Brokers (1113) 
Other Financial Officers (1114) 
Employment (non-student) in 2010 361,128
Median Age of workers in 2010 43
Average Retirement Age in 2010 62

Occupation Projection for Canada

Over the 2008-2010 period, this occupation experienced higher-than-average employment growth, while growth in wages was slightly lower than the average for other occupations. The unemployment rate increased slightly but remained below the average unemployment rate for all occupations. The number of job seekers was sufficient to fill all job openings.

Over the 2011-2020 period, an occupation will be in excess demand (a shortage of workers) if the projected number of job openings is significantly greater than the projected number of job seekers. An occupation will be in excess supply (a surplus of workers) if the projected number of job openings is smaller than the projected number of job seekers. For Auditors, Accountants And Investment Professionals, over the 2011-2020 period, job openings (arising from expansion demand and replacement demand) are expected to total 168,834 and 138,270 job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill the job openings.

Based on projections and considering that labour supply and demand in this occupation were balanced over the recent period, it is expected that the number of job seekers will continue to be sufficient to fill job openings in this occupation over the 2011-2020 period. In fact, the difference between supply and demand will be only 0.8% of employment in 2010. Retirements will account for the majority of job openings. Although the retirement rate in this occupation will be on par with the average for all occupations over the projection period, there will be a sharp increase in the number of retirements relative to the 2001-2010 period. This increase can be explained by the fact that workers in this occupation are older on average and retire somewhat earlier than other workers. In contrast, the number of new jobs created (expansion demand) will be far lower than in the 10 years preceding the projection period. This slower rate of employment growth (which is nonetheless average) is due in particular to a smaller increase in demand for investment specialists than in the past, and to the real-estate market slowdown. Just like demand, the number of job seekers will increase slightly over the 2011-2020 period. Job seekers will come mainly from the school system. Finally, a number of workers will leave for other occupations, generally in management.

This Chart contains data for Projection of Job Openings vs. Job Seekers for Canada. Information is available in the following tables.

This Chart contains data for Projection of Job Openings vs. Job Seekers for Canada. Information is available in the following tables.
Table of job opening projections for the occupational group containing your chosen occupation.
Category Openings %
Expansion Demand 52,501 31%
Retirements 95,740 57%
Other Replacement Demand 12,349 7%
Emigration 8,244 5%
Projected Job Openings 168,834 100%
Table of job seeker projections for the occupational group containing your chosen occupation.
Category Seekers %
School Leavers 110,316 80%
Immigration 21,710 16%
Other 6,245 5%
Projected Job Seekers 138,270 100%
[ Source: Canadian Occupational Projection System (COPS) ]

In which industry or sector do people in this occupation find jobs in Canada?

This table shows the industry and sectors employing the highest number of people in this occupation.

This table shows the industry sectors employing the highest number of people in this occupation.
Industry / Sector %
Finance and insurance 85.20
Professional, scientific and technical services 5.30
Public administration 4.10
[ Source: 2006 Census - Statistics Canada | Legal note ]

What percentage of people in this occupation are self-employed?

The graph displays the percentage of people in this occupation who are “self-employed”, according to the 2006 Census, in comparison to the Canadian average across all occupations.

As shown in the graph, according to the 2006 Census, 19% of people in this occupation were self-employed, while the average for all occupations was 12%.

The Labour Force Survey also gives us some information about self-employment. This occupation (Other Financial Officers) is part of a larger group called Auditors, Accountants and Investment Professionals (NOC 111). According to the Labour Force Survey (2009), 24% of workers in this group were self-employed, while the average for all occupations was 16%.

[ Source: Labour Force Survey - Statistics Canada | Legal note ]

What proportion of people in this occupation work full-time?

The graph displays the proportion of people in this occupation who worked full-time and part-time in comparison to the Canadian average across all occupations.

According to the Labour Force Survey (2009), 90% of workers in this occupation worked full-time, compared to the average of 81% for all occupations.

[ Source: Labour Force Survey - Statistics Canada | Legal note ]

What is the proportion of women working in this occupation?

The graph displays the proportion of men and women in this occupation in comparison to the Canadian average across all occupations.

According to the Labour Force Survey (2009), women represented 40% of workers in this occupation, compared to the average of 48% for all occupations.

[ Source: 2006 Census - Statistics Canada / Labour Force Survey - Statistics Canada | Legal note ]

What percentage of people in this occupation are members of a union?

This occupation (Other Financial Officers) is part of a larger group called Auditors, Accountants and Investment Professionals (NOC 111). According to the Labour Force Survey (2009), the unionization rate for this group was 16%, while the unionization rate for all occupations was 31%.

[ Source: Labour Force Survey - Statistics Canada | Legal note ]
Please consult the London Region and Ontario tabs for more useful information related to outlook.