63102 Financial sales representatives

What this occupation covers

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.

Official main duties

The NOC profile lists 10 main duties for this code.

• 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.

Do not copy these lines into your reference letter. The letter has to describe what you actually did, in your employer’s words. DUTYPROOF flags wording lifted from the NOC as something to review, and an officer reading a letter that mirrors the NOC reads it the same way.

What DUTYPROOF screens for

This is DUTYPROOF’s screening threshold, not IRCC’s decision. For this NOC, screening requires at least 2 of its 10 official duties to be evidenced in your own words, plus the required letter elements. IRCC asks that you performed the actions in the occupation’s lead statement and a substantial number of its main duties — so treat the duty coverage as the number that matters, not the badge.

Codes this one is confused with

The NOC profile names these itself. Choosing the wrong code of a look-alike pair is the most common way genuine work experience fails to establish eligibility.

• 14201 Banking, insurance and other financial clerks
• 64400 Customer services representatives - financial institutions
• 10021 Banking, credit and other investment managers
• 11109 Other financial officers

Excluded from this code

• Banking, insurance and other financial clerks (See 14201 Banking, insurance and other financial clerks)
• Customer services representatives - financial institutions (See 64400 Customer services representatives - financial institutions)
• Loan and credit manager - banking or trust company (See 10021 Banking, credit and other investment managers)
• Other financial officers (See 11109 Other financial officers)

Job titles filed under this code

A title on this list does not by itself put your experience in this code — the duties in your letter decide that.

banking accounts officer · commercial banking accounts officer · consumer credit officer · consumer loans officer · credit analyst · credit investigation officer · credit investigator · credit officer · debt counsellor · financial sales and service officer · financial sales and service supervisor · financial services officer · financial services representative · key accounts specialist · lending services officer · lending services trainee · loan inspector · loan officer · loans adviser · loans agent · loans analyst · loans counsellor · loans supervisor · merchant services specialist - financial

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.