Financial sales representatives
Career Overview
Financial sales representatives:
- Sell basic deposit, investment and loan products and services to individuals and businesses
- Work for banks, trust companies, credit unions and similar financial institutions
Job Titles
Duties
Financial sales representatives:
- 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
Earnings
Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.
Work Environment
# Workers Employed
7,300% Employed Full Time
74%Work in this occupation is typically performed in a structured environment, such as an office.
Career Pathways
Promotion to credit and loan management positions is possible with experience.
Progression to higher levels of financial planning and wealth management is possible with experience.
Related Careers
Occupational Interests
It’s important to understand what kinds of occupations align with your interests.
For more about occupational interests visit Skills for the Future Workforce > Characteristics.
Here are the top occupational interest(s) for this career profile:
Education, Training and Skills
- 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 license 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.
- Financial services officers who sell regulated financial products and investments are required to be licensed by the appropriate governing body
Various training programs and courses are offered by the Institute of Canadian Bankers and may be required by employers.
Education programs in B.C.
The following program areas are related to this occupation:
- Business Administration/Management/Commerce
- Economics (Arts)
- Economics (Science)
Skills
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!
Talking to others to share information effectively.
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Understanding written sentences and paragraphs in work-related documents.
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Communicating effectively in writing as appropriate for the needs of the audience.
Understanding how new information could be used to solve current and future problems in making decisions.
Actively looking for ways to help people.
Being aware of others’ reactions and understanding why they react as they do.
Being able to solve novel, ill-defined problems in complex, real-world settings.
Labour Market Statistics
Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.
Employment
Find out about employment types and trends by region and industry.
Employment
7,300Employment by Region
| Region | Employment | % Employment of this Occupation |
|---|---|---|
| Cariboo | 200 | 2.7% |
| Kootenay | 115 | 1.6% |
| Mainland/Southwest | 5,365 | 73.5% |
| North Coast and Nechako | 95 | 1.3% |
| Northeast | 55 | 0.8% |
| Thompson-Okanagan | 555 | 7.6% |
| Vancouver Island/Coast | 915 | 12.5% |
Labour Market Outlook
The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.
Forecasted Job Openings (2024-2034)
2,840Forecasted Job Openings
Forecasted Employment Growth Rate
Composition of Job Openings
Job Openings by Region (2024-2034)
| Region | Job Openings | Avg. Annual Employment Growth |
|---|---|---|
| Cariboo | 30 | -0.3% |
| Kootenay | 40 | -0.1% |
| Mainland/Southwest | 2,230 | 1.3% |
| North Coast and Nechako | 40 | 1.2% |
| Northeast | 10 | -0.3% |
| Thompson-Okanagan | 190 | 0.2% |
| Vancouver Island/Coast | 310 | 0.2% |
Industry Highlights
Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.
Forecasted Job Openings by Industry
| Industry | Job Openings (2024-2034) |
|---|---|
| Finance, Insurance and Real Estate | 2,630 |
| Professional, Scientific and Technical Services | 70 |
| Retail Trade | 40 |
| Wholesale Trade | 30 |
| Public Administration | 20 |
Resources
Resource information is currently not available.
Career Videos
Watch the video below to see what a day in the life of a bilingual sales representative is like.
Watch the video below to see what a day in the life of a bilingual sales representative is like.
