NOC Skills -  Top Financial and Banking Jobs Canada

Canada is a mecca of opportunities for foreign nationals seeking fruitful new beginnings. With favorable immigration laws, the Canadian government is constantly working on attracting highly skilled immigrants to join its dwindling workforce due to its aging population. Over the years, the Great White North has become home to many newcomers with financial backgrounds. The country is reported to have a strong, competitive financial and banking sector, which not only contributes to the booming Canadian economy but also provides great opportunities for skilled workers in search of finance and banking jobs in Canada.

Canada’s Financial Hub

Banking Jobs in Canada | NOC Skills -  Top Financial and Banking Jobs Canada

As far as financial hubs are concerned, Ontario's capital city, Toronto, ranks second among the top financial centers in North America - after New York. It also ranks as a top employer globally. The sector comprises a broad range of roles, from accounting, banking, insurance, and investment. If securing one of the many financial and banking jobs in Canada is on the cards for you, it's a good idea to research this sector to identify the best options for your specific professional and family needs.

National Occupation Classification (NOC)

With a great need for skilled workers due to its large retiring population, Canada uses the National Occupation Classification (NOC) to categorize occupations and skills based on duties and education.

Immigration, Refugees and Citizenship Canada (IRCC) crossed over to NOC 2021 in November 2022 to check the eligibility of candidates applying for the various permanent residency programs. With this change, the usual four-digit format of the system's codes has been replaced with a format that consists of five digits. The updated method is more adaptable than the previous version and will create space for additional unit groupings in years to come.

Learn how to classify your NOC skill level.

NOC TEER 1 Financial and Banking Jobs

Relevant to most financial and banking sector jobs, NOC TEER 1 jobs require you to have a university degree. Below is a list of Canada's top NOC TEER 1 financial and banking sector jobs.

Occupation Job Titles Average Salary in CAD
Financial managers (NOC 10010) Financial Services Director
Director Accounting Director
Finance Director
Financial Administrator
real estate
and financial brokerage managers (NOC 10020)
Insurance Manager
Real Estate Service Manager
Financial Brokerage Manager
Commodities Trading Manager
and other investment managers (NOC 10021)
Bank Manager
Commercial Banking Manager
Mortgage and Consumer Credit Manager
Financial auditors and accountants (NOC 11100) Accountant
Financial and investment analysts (NOC 11101) Financial Analyst
Investment Analyst
Portfolio Manager
Financial Services Research Associate
Securities agents
investment dealers and brokers (NOC 11103)
Foreign Exchange Trader
Mutual Fund Broker
Securities Agent
Accounting technicians and bookkeepers (NOC 12200) Bank Clerks Supervisor
Bookkeeping Supervisor
Payroll Supervisor
Accounting Supervisor
Insurance adjusters and claims examiners (NOC 12201) Insurance workers 88,806
Insurance underwriters (NOC 12202) Insurance Underwriter
Liability Underwriter
Property Underwriter
ship and other brokers (NOC 13200)
Customs Broker
Cargo Broker
Ship Broker
Accounting and related clerks (NOC 14200) Accounting Clerk
Audit Clerk
Billing Clerk
Finance Clerk
Tax Clerk
Payroll administrators (NOC 13102) Pay Advisor
Pay Clerk
Payroll Officer
Salary Administration Officer
insurance and other financial clerks (NOC 14201)
Bank Clerk
Credit Clerk
Mortgage Clerk
Real Estate Clerk
Securities Clerk
Insurance Rater
Collection clerks (NOC 14202) Collector
Collection Clerk
Collection Officer

Essential Skills Required For Financial and Banking Jobs in Canada

Banking jobs in Canada require specific skills and knowledge. This includes financial analysis, risk management, and customer service.

  • Financial analysis involves analyzing financial data to identify trends and make informed decisions.
  • Risk management involves identifying and managing risks associated with financial transactions.
  • Customer service skills are essential in the banking industry, as banking professionals must interact with clients and provide advice and solutions to their financial needs.

Developing the Necessary Skills For Success in the Banking Industry

Developing the necessary skills for success in the financial and banking industry requires continuous learning and professional development. As a professional in this sector, you must stay updated with industry trends and regulations and pursue additional certifications and qualifications. Networking is also crucial for banking professionals, as it provides opportunities to learn from other industry professionals and build relationships with potential employers.

Networking and Professional Development Opportunities in the Banking Sector

Networking and professional development opportunities are essential for banking professionals seeking to advance their careers. Industry conferences, seminars, and workshops provide opportunities to learn from industry experts and connect with other professionals.

Think of signing up to professional organizations, such as:

  • The Canadian Bankers Association and;
  • The Financial Advisors Association of Canada

These organizations offer resources and support for banking professionals seeking to develop their skills and advance their careers.

The Hiring Process For Finance and Banking Jobs in Canada

The Hiring Process in Canada | NOC Skills -  Top Financial and Banking Jobs Canada

As with all jobs, you'll have to go through an interview and screening process so that your prospective employer can determine whether you'll be a good fit for the company. The hiring process for finance and banking jobs in Canada is no different. The process is as follows:

  1. Initial screening: A telephone call in which an interviewer discusses the role and all the information about the job
  2. A test: If you are considered to be a good fit for the position, you may have further interviews and various tests.
  3. Offer of employment: If you have been successful, you'll be offered the job. The recruiter is likely to call you to make an offer of employment. The offer of employment letter usually follows this.

Find Your Pathway to Living and Working in Canada

Now that you are more familiar with the different jobs in this sector, you'll want to explore the different pathways to get you to Canada. Because you fall into a job category for highly skilled individuals, you're likely to be eligible for Canadian Immigration. Ready to live and work in Canada for good? Let's see how you can get there.

Express Entry

One of the quickest ways to immigrate to Canada, the Express Entry System was put in place by Immigration, Refugees and Citizenship Canada (IRCC) to select candidates for immigration via various Federal Economic Immigration programs:


If you secure a Provincial Nomination, you can boost your CRS score by 600 points. This is guaranteed to ensure success in gaining an Invitation to Apply for Canadian Permanent Residency.

The Canadian government has an agreement with local provinces that allows them to nominate immigrants hoping to live in a particular province. To receive a visa through the Provincial Nominee Program (PNP), you must select your province of choice and apply for a nomination. Each application is assessed, and the decision to grant the ITA is made based on the province's immigration and labor needs, as well as your intentions to settle. Canadian immigration is vital for the economic well-being of many provinces due to the retirement of many skilled workers.

The Benefits of Canadian Permanent Residency

Benefits of Canadian Permanent Residency | NOC Skills -  Top Financial and Banking Jobs Canada

Working in the banking industry in Canada offers numerous benefits, including competitive salaries, job security, and opportunities for career advancement. Canada's banking sector is highly regulated, ensuring employees receive fair treatment and benefits. Additionally, the Canadian banking system is known for its stability and resilience, making it an attractive destination for banking professionals seeking job security.

Obtaining Canadian Permanent residency, instead of just a Canadian Work Permit, also comes with many benefits. As a Canadian Permanent Resident, you'll be able to

  • Live and work in Canada without the hassle of sorting work permits
  • Enter and leave without limitations
  • Study further in Canada
  • Have access to universal healthcare
  • Have access to social benefits
  • Apply for Citizenship
  • Be protected under Canadian law as well as the Canadian Charter of Rights and Freedoms


How do I Apply For Canadian Permanent Residency Via the Express Entry System?

To apply for express entry to Canada, you must follow the steps below:

  1. Step 1: Check whether you are eligible
  2. Step 2: Get a good Comprehensive Ranking System (CRS) score
  3. Step 3: Make sure you have all of your documents to support your application
  4. Step 4: Create your Express Entry Profile online
  5. Step 5: Secure an Invitation to Apply (ITA)
  6. Step 6: Submit your complete application for Canadian Permanent Residency

Can I Work in Canada While I Wait For my Canadian Permanent Residency Application Results?

Yes. You can apply for a Bridging Open Work Permit (BOWP). This allows you to work in Canada while you await the results of your Canadian permanent residency application.