National Occupational Classification (NOC) 2021 Version 1.0

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National Occupational Classification (NOC) 2021 Version 1.0
Introduction
Hierarchical structure

1 - Business, finance and administration occupations

This broad category comprises specialized middle management occupations in administrative services, financial and business services and communication (except broadcasting), as well as professional occupations in finance and business; administrative and financial supervisors and specialized administrative occupations; administrative occupations and transportation logistics occupations; and administrative and financial support and supply chain logistics occupations.

11 - Professional occupations in finance and business

This major group comprises professional occupations in finance and business. These occupations come with Training, Education, Experience and Responsibility (TEER) identified as TEER 1. Occupations classified in TEER 1, as those in this group with a 1 as the second digit of their code, typically require a university degree (bachelor's, master's or doctorate) or the accumulation of several years of experience and expertise in the subject matter knowledge in a related occupation found in TEER 2 (which includes occupations with a 2 as a second digit in their code).

111 - Professional occupations in finance

This sub-major group comprises professional occupations in finance, including auditors, accountants, investment professionals and other financial officers.

1110 - Auditors, accountants and investment professionals

This minor group comprises auditors, accountants and investment professionals such as financial auditors and accountants, financial and investment analysts, financial advisors, securities agents, investment dealers and brokers, and other financial officers. These professionals are employed by auditing and accounting firms; banks and insurance, underwriting, investment, fund management and trust companies; utility and manufacturing companies; stock brokerage firms, stock and commodity exchanges and other establishments in the securities industry; and throughout the public and private sectors; or they may be self-employed.

11100 - Financial auditors and accountants

Financial auditors examine and analyze the accounting and financial records of individuals and establishments to ensure accuracy and compliance with established accounting standards and procedures. Accountants plan, organize and administer accounting systems for individuals and establishments. They are employed by private sector accounting and auditing firms or departments and public sector accounting and auditing departments or units, or they may be self-employed. Articling students in accounting firms are included in this unit group.

  • Illustrative example(s)

    • accountant
    • chief accountant
    • financial auditor
    • income tax expert
    • industrial accountant
    • internal auditor

    All examples

  • Exclusion(s)

    • Accounting technicians and bookkeepers (See 12200 Accounting technicians and bookkeepers)
    • Financial managers (See 10010 Financial managers)
    • Policy and program researchers, consultants and officers (See 4140 Policy and program researchers, consultants and officers)

  • Main duties

    This group performs some or all of the following duties:

    Financial auditors

    • Examine and analyze journal and ledger entries, bank statements, inventories, expenditures, tax returns and other accounting and financial records, documents and systems of individuals, departments within organizations, businesses or other establishments to ensure financial recording accuracy and compliance with established accounting standards, procedures and internal controls
    • Prepare detailed reports on audit findings and make recommendations to improve individual or establishment's accounting and management practices
    • Conduct field audits of businesses to ensure compliance with provisions of the Income Tax Act, Canadian Business Corporations Act or other statutory requirements
    • May supervise other auditors or professionals in charge of accounting within client's establishment.

    Accountants

    • Plan, set up and administer accounting systems and prepare financial information for individuals, departments within organizations, businesses and other establishments
    • Examine accounting records and prepare financial statements and reports
    • Develop and maintain cost finding, reporting and internal control procedures
    • Examine financial accounts and records and prepare income tax returns from accounting records
    • Analyze financial statements and reports and provide financial, business and tax advice
    • May act as a trustee in bankruptcy proceedings
    • May supervise and train articling students, other accountants or administrative technicians.

  • Employment requirements

    • Chartered professional accountants, chartered accountants (CPA, CA) require a university degree
      and
      completion of a professional training program approved by a provincial Institute of chartered accountants and, depending on the province, either two years or 30 months of on-the-job training
      and
      membership in a provincial Institute of Chartered Accountants upon successful completion of the Uniform Evaluation (UFE).
    • Chartered professional accountants, certified general accountants (CPA, CGA) and chartered professional accountants, certified management accountants (CPA, CMA) require a university degree and completion of an approved training program and several years of on-the-job training and certification with a regulatory body is required in all provinces and territories.
    • Auditors require education, training and recognition as indicated for chartered professional accountants, chartered accountants (CPA, CA), chartered professional accountants, certified general accountants (CPA, CGA) or chartered professional accountants, certified management accountants (CPA, CMA) and some experience as an accountant.
    • Auditors may require recognition by the Institute of Internal Auditors.
    • To act as a trustee in bankruptcy proceedings, auditors and accountants must hold a licence as a trustee in bankruptcy.
    • Licensing by the provincial or territorial governing body is usually required for accountants and auditors practising public accounting.

  • Additional information

    • There is limited mobility among the three professional accounting designations: Chartered professional accountant, chartered accountant (CPA, CA); Chartered professional accountant, certified general accountant (CPA, CGA), and Chartered professional accountant, certified management accountant (CPA, CMA).
    • Progression to auditing or accounting management positions is possible with experience.
11101 - Financial and investment analysts

Financial and investment analysts collect and analyze financial information such as economic forecasts, trading volumes and the movement of capital, financial backgrounds of companies, historical performances and future trends of stocks, bonds and other investment instruments to provide financial and investment or financing advice for their company or their company's clients. Their studies and evaluations cover areas such as takeover bids, private placements, mergers or acquisitions. Financial analysts are employed by a wide range of establishments throughout the private and public sector, such as banks, brokerage houses, insurance companies, investment companies, manufacturing firms, trust companies, utility companies and underwriting firms. Investment analysts are employed primarily by brokerage houses and fund management companies.

  • Illustrative example(s)

    • chartered financial analyst
    • financial analyst
    • financial services research associate
    • investment analyst
    • money market analyst
    • portfolio manager

    All examples

  • Exclusion(s)

    • Economic development officer (See 41402 Business development officers and market researchers and analysts)
    • Economist (See 41401 Economists and economic policy researchers and analysts)
    • Financial planner (See 11102 Financial advisors)
    • Securities agents, investment dealers and brokers (See 11103 Securities agents, investment dealers and brokers)

  • Main duties

    This group performs some or all of the following duties:

    Financial analysts

    • Evaluate financial risks, prepare financial forecasts, financing scenarios and other documents concerning capital management, and write reports and recommendations
    • Plan short- and long-term cash flows and assess financial performance
    • Analyze investment projects
    • Advise on and participate in the financial aspects of contracts and calls for tender
    • Follow up on financing projects with financial backers
    • Develop, implement and use tools for managing and analyzing financial portfolio
    • Prepare a regular risk profile for debt portfolios
    • Assist in preparing operating and investment budgets
    • Develop and update financial or treasury policies.

    Investment analysts

    • Collect financial and investment information about companies, stocks, bonds and other investments using daily stock and bond reports, economic forecasts, trading volumes, financial periodicals, securities manuals, company financial statements and other financial reports and publications
    • Examine and analyze financial and investment information collected, including profiles of companies, stock and bond prices, yields and future trends and other investment information
    • Provide investment advice and recommendations to clients, senior company officials, pension fund managers, securities agents and associates
    • Prepare company, industry and economic outlooks, analytical reports, briefing notes and correspondence.

  • Employment requirements

    • A bachelor's degree in commerce, business administration, accounting, finance or economics and on-the-job training and industry courses and programs are usually required.
    • A master's degree in business administration (MBA) (concentration in finance) or in finance may be required.
    • The Chartered Financial Analyst (CFA) designation, available through a program conducted by the CFA Institute or an other recognized financial designations (CFP, CIM or others), is usually required.
    • Other designations, such as Chartered Professional Accountant (CPA) and Certified Treasury Professional (CTP), may be required by some employers.

  • Additional information

    • Progression to management positions, such as securities manager, is possible with experience.
11102 - Financial advisors

Financial advisors counsel individuals on financial decisions such as investments, cash management, and estate planning. They establish personal financial plans according to clients' objectives and guide them through the implementation of the proposed strategies that may be adjusted as the situation evolve. They are employed by banks, trust companies and investment firms, or they may be self-employed.

  • Illustrative example(s)

    • account manager
    • financial advisor
    • financial consultant
    • financial planner
    • financial security advisor
    • personal finance advisor
    • personal investment advisor

    All examples

  • Exclusion(s)

    • Financial and investment analysts (See 11101 Financial and investment analysts)
    • Managers in financial and business services (See 1002 Managers in financial and business services)
    • Other financial officers (See 11109 Other financial officers)
    • Securities agents, investment dealers and brokers (See 11103 Securities agents, investment dealers and brokers)

  • Main duties

    This group performs some or all of the following duties:

    • 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 purchase and sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability
    • May help to expand business and attract new clients.

  • Employment requirements

    • A bachelor's degree in business administration, commerce, economics or a related field is usually required.
    • The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required.
    • To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a licence is required from the appropriate governing body.
    • Certification as a Financial Planner is required in Quebec.
    • Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, CFA Institute, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.

  • Additional information

    • While these kinds of positions require a high degree of training and qualifications, persons who occupy them must continually update their skills and pursue professional development.
    • Progression to financial management positions is possible with experience.
11103 - Securities agents, investment dealers and brokers

Securities agents and investment dealers buy and sell stocks, bonds, treasury bills, mutual funds and other securities for individual investors, pension fund managers, banks, trust companies, insurance firms and other establishments. Brokers buy and sell stocks, bonds, commodity futures, foreign currencies and other securities at stock exchanges on behalf of investment dealers. They are employed by investment companies, stock brokerage firms, stock and commodity exchanges and other establishments in the securities industry.

  • Illustrative example(s)

    • bond dealer
    • broker
    • commodity broker
    • discount broker
    • floor trader - commodity exchange
    • foreign exchange trader
    • investment dealer
    • mutual fund broker
    • mutual fund sales representative
    • registered investment representative
    • registered representatives supervisor
    • securities agent
    • securities sales agent
    • securities trader
    • stockbroker

    All examples

  • Exclusion(s)

    • Financial and investment analysts (See 11101 Financial and investment analysts)
    • Financial brokerage manager (See 10020 Insurance, real estate and financial brokerage managers)
    • Other financial officers (See 11109 Other financial officers)

  • Main duties

    This group performs some or all of the following duties:

    Securities agents and investment dealers

    • Develop long-term relationships with their clients by preparing investment strategies to help them achieve their financial goals, offering advice and information on various investments to guide them in managing their portfolios
    • Review financial periodicals, stock and bond reports, business publications and other material, and develop a network within the financial industry to gather relevant information and identify potential investments for clients
    • Carry out investment orders by buying and selling stocks, bonds, treasury bills, mutual funds and other securities for individual investors, pension fund managers or companies such as banks, trust companies and insurance firms
    • Monitor clients' investment portfolios and ensure that investment transactions are carried out according to industry regulations.

    Brokers

    • Buy and sell stocks, bonds, commodity futures, foreign currencies and other securities at stock exchanges on behalf of investment dealers
    • Develop trading strategies by reviewing investment information and monitoring market conditions from the exchange floor and through contact with trading departments of other investment firms, pension fund managers and investment company financial analysts
    • Make bids and offers to buy and sell securities and complete details of sales on exchange trade tickets
    • Prepare reviews of portfolios' positions.

  • Employment requirements

    • A bachelor's or master's degree in economics, business or other discipline is usually required.
    • A recognized financial designation may be required (CFA, CFP, CIM or others).
    • Securities sales representatives and brokers require completion of industry investment and sales training programs and completion of licensing courses such as the Canadian Securities Course and the Conduct and Practices Handbook Course offered by the Canadian Securities Institute, or acceptable alternatives such as completion of one or more levels of the CFA Program, offered by CFA Institute.
    • Specialized courses are also available for securities sales representatives and brokers who want to trade in specific investment products such as securities options and futures contracts.
    • Licensure by the provincial securities commission in the province of employment or a recognized self-regulatory organization is required for securities agents, investment dealers and brokers.

  • Additional information

    • Progression to related management positions is possible with experience.
11109 - Other financial officers

Other financial officers include professional occupations in finance such as 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.

  • Illustrative example(s)

    • credit adjudicator
    • credit unions examiner
    • estate and trust administrator
    • financial institutions inspector
    • financial investigator
    • financial underwriter
    • mortgage broker
    • trust officer

    All examples

  • Exclusion(s)

    • Advertising, marketing and public relations managers (See 10022 Advertising, marketing and public relations managers)
    • Banking, credit and other investment managers (See 10021 Banking, credit and other investment managers)
    • Economic development officer (See 41402 Business development officers and market researchers and analysts)
    • Economist (See 41401 Economists and economic policy researchers and analysts)
    • Financial and investment analysts (See 11101 Financial and investment analysts)
    • Insurance, real estate and financial brokerage managers (See 10020 Insurance, real estate and financial brokerage managers)
    • Other business services managers (See 10029 Other business services managers)
    • Securities agents, investment dealers and brokers (See 11103 Securities agents, investment dealers and brokers)

  • Main duties

    This group performs some or all of the following duties:

    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

    • Analyze client requests to assess risk and details of stocks, bonds, mortgages or other financing solutions
    • Negotiate with corporations, governments or individuals to determine the type and terms of financial products and prepare offering prospectuses or contracts
    • May underwrite new issues of stocks and bonds.

    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
    • Negotiate mortgage loans with lenders or lending institutions on behalf of clients.

  • Employment requirements

    • A bachelor's degree in business administration, commerce, economics or a related field is usually required.
    • Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, CFA Institute, Investment Funds Institute, and Trust Companies Institute of Canada, and may be required by employers.
    • A recognized financial designation may be required (CFA, CIM or others).
    • Financial examiners and inspectors may require a recognized accounting designation.
    • Mortgage brokers require a mortgage broker licence in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Newfoundland and Labrador and Nova Scotia.

  • Additional information

    • While these kinds of positions require a high degree of training and qualifications, persons who occupy them must continually update their skills and pursue professional development.
    • Progression to financial management positions is possible with experience.
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