Financial sales representatives
Financial sales representatives sell basic deposit, investment and loan products and services to individuals and businesses.
Moderate
Market Demand
TEER 3
Skill Level
NL, PE, NS
Top Provinces
What They Do
- 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.
Qualifications
- checkRegistration with the securities regulatory authority in the province or territory of employment is usually required.
- checkFinancial services officers who sell regulated financial products and investments are required to be licensed by the appropriate governing body.
- checkCompletion of a loan or credit training program, ranging from six to twelve months, is usually required.
- checkVarious training programs and courses are offered by the Institute of Canadian Bankers and may be required by employers.
- checkCompletion of secondary school and extensive general banking experience is usually required.
- checkA bachelor's degree or college diploma related to commerce or economics may be required.
- checkA mutual funds licence is usually required.
Market Outlook by Province
Newfoundland and Labrador
The employment outlook will be Moderate for financial sales representatives (NOC 63102) in Newfoundland and Labrador for the 2025-2027 period.The following factors contributed to this outlook:Employment growth will lead to a few new positions.Not many positions will become available due to retirements.There are a small number of unemployed workers with recent experience in this occupation.Here are some key facts about financial sales representatives in Newfoundland and Labrador: Approximately 500 people work in this occupation. Financial sales representatives mainly work in the following sectors: Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): more than 95% The distribution of full-time and part-time workers in this occupation is:Full-time workers: 92% compared to 83% for all occupationsPart-time workers: 8% compared to 17% for all occupations84% of financial sales representatives work all year, while 16% work only part of the year, compared to 56% and 43% respectively among all occupations. Those who worked only part of the year did so for an average of 47 weeks compared to 40 weeks for all occupations.Less than 5% of financial sales representatives are self-employed compared to an average of 8% for all occupations.The gender distribution of people in this occupation is: Men: 26% compared to 51% for all occupations Women: 74% compared to 49% for all occupations The educational attainment of workers in this occupation is: no high school diploma: less than 5% compared to 11% for all occupations high school diploma or equivalent: 20% compared to 27% for all occupations apprenticeship or trades certificate or diploma: 11% compared to 17% for all occupations college certificate or diploma or university certificate below bachelor's: 35% compared to 23% for all occupations bachelor's degree: 26% compared to 14% for all occupations university certificate, degree or diploma above bachelor level: 7% compared to 7% for all occupations
Moderate
Outlook
Prince Edward Island
The employment outlook will be Moderate for financial sales representatives (NOC 63102) in Prince Edward Island for the 2025-2027 period.The following factors contributed to this outlook:Employment growth will lead to a moderate number of new positions.Not many positions will become available due to retirements.There are a small number of unemployed workers with recent experience in this occupation.High employee turnover in this occupation could lead to additional employment opportunities.Here are some key facts about financial sales representatives in Prince Edward Island: Approximately 150 people worked in this occupation in May 2021. Financial sales representatives mainly work in the following sectors: Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 88%Federal government public administration (NAICS 911): 12% 94% of financial sales representatives work all year, while 6% work only part of the year, compared to 59% and 41% respectively among all occupations. Those who worked only part of the year did so for an average of 50 weeks compared to 41 weeks for all occupations.The gender distribution of people in this occupation is: Men: 26% compared to 51% for all occupations Women: 74% compared to 49% for all occupations The educational attainment of workers in this occupation is: no high school diploma: n/a high school diploma or equivalent: 46% compared to 28% for all occupations apprenticeship or trades certificate or diploma: 9% compared to 11% for all occupations college certificate or diploma or university certificate below bachelor's: 26% compared to 25% for all occupations bachelor's degree: 20% compared to 17% for all occupations university certificate, degree or diploma above bachelor level: n/a
Moderate
Outlook
Nova Scotia
The employment outlook will be Moderate for financial sales representatives (NOC 63102) in Nova Scotia for the 2025-2027 period.The following factors contributed to this outlook:Employment growth will lead to a moderate number of new positions.A moderate number of positions will become available due to retirements.There are a moderate number of unemployed workers with recent experience in this occupation.High employee turnover in this occupation could lead to additional employment opportunities.An increase in the number of postings in this occupation has been noted in recent years, particularly in the Halifax area, which has improved hiring prospects for candidates with little-to-no experience in sales. Remote sales work has also become more common, increasing the geographic scope of opportunities for jobseekers. Recruitment by major financial institutions is sometimes done directly, rather than through job posting services. Jobseekers without previous experience may find that they are ineligible for roles with major banks, but that internal promotion from an entry-level teller or customer service position is a possibility. Here are some key facts about financial sales representatives in Nova Scotia: Approximately 1,300 people work in this occupation. Financial sales representatives mainly work in the following sectors: Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 89% The distribution of full-time and part-time workers in this occupation is:Full-time workers: 94% compared to 82% for all occupationsPart-time workers: 6% compared to 18% for all occupations78% of financial sales representatives work all year, while 22% work only part of the year, compared to 62% and 38% respectively among all occupations. Those who worked only part of the year did so for an average of 46 weeks compared to 42 weeks for all occupations.Less than 5% of financial sales representatives are self-employed compared to an average of 11% for all occupations.The gender distribution of people in this occupation is: Men: 32% compared to 51% for all occupations Women: 68% compared to 49% for all occupations The educational attainment of workers in this occupation is: no high school diploma: less than 5% compared to 10% for all occupations high school diploma or equivalent: 24% compared to 27% for all occupations apprenticeship or trades certificate or diploma: less than 5% compared to 12% for all occupations college certificate or diploma or university certificate below bachelor's: 27% compared to 22% for all occupations bachelor's degree: 34% compared to 20% for all occupations university certificate, degree or diploma above bachelor level: 10% compared to 10% for all occupations
Moderate
Outlook
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Immigration Pathways
TEER 3 occupations require college or vocational training and qualify for Express Entry under the Federal Skilled Trades Program.
Express Entry (FSTP)
Canadian Experience Class
Provincial Nominee Programs
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Top Companies Hiring
Organizations with the most NOC 63102 openings right now.
Slg001
13 active roles · Edmonton, AB · Toronto, ON
Coast Capital Savings
12 active roles · Vancouver, BC · Victoria, BC
Scotiabank
9 active roles · Vernon, BC · Toronto, ON
Vancity
6 active roles · Vancouver, BC
OSL Retail Services Inc
5 active roles · Prince George, BC · Vancouver, BC
Running Room
4 active roles · Saskatoon, SK · Surrey, BC
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Search Financial sales representativesarrow_forwardCore Competencies
Monitoring
to assess how well representatives are addressing client needs, leading to improved client satisfaction and retention
Persuading
to promote the sale of deposit, investment, credit and loan products and services
Verbal Ability and Speech Recognition
to clearly ask questions, explain loan terms and listen to answers from applicants during interviews for personal, mortgage, student or business loans
Deductive Reasoning
to research and evaluate the financial status, references and credit of loan applicants and their ability to repay loans
Attention to Detail
to closely analyze details in documents to review and update credit and loan files
Knowledge in Client Service
to understand client needs, preferences and concerns to offer personalized solutions and foster long-term trust and loyalty
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