Job trends - Canada - Finance officers

Finance officers maintain account books, verify financial transactions and do bookkeeping functions. They are employed both in public and private sector companies.

 

Watch the video: Job Trends for Finance Officers in Canada.

 

Finance officer-NOC 1311 Median wage per hour

All jobs available in the labour market in Canada are classified as per the National Classification Code (NOC). Each of the occupation groups has a unique NOC code assigned. In Canada, an individual working in an occupation with NOC 1311 can expect to earn somewhere between CAD 15.00/hour and CAD 35.90/hour. The median wage for this profession is approximately CAD 23.00 per hour and the maximum median wage for this profession is in the Canadian province of Nunavut which is CAD 51.21 per hour.

 

Prevailing Hourly wages for NOC 1311 in Canada
	Low	Median	High
CANADA	15.00	23.00	35.90
Province/ Territory	Low	Median	High
Alberta	17.00	25.48	42.00
British Columbia	15.38	24.40	36.54
Manitoba	14.50	21.25	34.41
New Brunswick	13.39	20.00	30.22
Newfoundland and Labrador	15.00	23.00	35.90
Northwest Territories	24.50	42.82	62.36
Nova Scotia	12.95	20.00	26.88
Nunavut	26.43	51.21	64.66
Ontario	15.25	23.00	37.98
Prince Edward Island	14.00	19.23	28.21
Quebec	15.00	21.25	31.75
Saskatchewan	16.00	24.00	36.00
Yukon	N/A	N/A	N/A

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Skills/Knowledge required for NOC 1311 in Canada

Generally, the following skills and knowledge will be required for working in Canada as a civil engineer –  

 

Expertise	·         Prepare tax returns ·         Keeping financial records ·         Establishing, maintaining and balancing various accounts, using computerized and manual bookkeeping systems ·         Preparing statistical, accounting, and financial reports ·         Posting journal entries ·         Reconciling accounts ·         Calculation of fixed assets and depreciation ·         Preparing trial balance of books ·         Calculation and preparation of cheques for payroll ·         Maintenance of general ledgers and financial statements
Essential skills	·         Reading ·         Document use ·         Writing ·         Numeracy ·         Oral communication ·         Thinking ·         Digital technology
Other essential skills	·         Working with others ·         Continuous learning

 

  3-year job prospect-

The job prospect in the next three years for this profession is good in most provinces of Canada. Future job prospects for NOC 1311 in Canada, by province and territory.

 

Job prospects	Location in Canada
Good	·         British Columbia ·         Manitoba ·         New Brunswick ·         Quebec ·         Saskatchewan
Fair	·         Alberta ·         Newfoundland and Labrador ·         Northwest Territories ·         Nova Scotia ·         Nunavut ·         Ontario ·         Prince Edward Island ·         Yukon
Limited	-
Undetermined	-

 

10-year predictions

For this profession, 10% of the openings will remain vacant in the next ten years due to skill shortage. Employment requirements

• Completion of secondary school education is compulsory
• Completion of a college program in accounting, bookkeeping or a related field or Completion of two years of any recognized professional accounting program or completion of courses in accounting or bookkeeping combined with work experience

Number of vacancies-

There are over 1,000 job openings for finance officers in Canada at present.

 

Job responsibilities

• Calculate and prepare payroll cheques
• Reconcile accounts
• Post entries to the journal
• Maintain financial records and general ledgers
• Prepare books for trial balance
• Calculate depreciation and fixed assets
• Prepare reports on statistics, finance and accounting
• Arrange for tax returns
• Using manual and computerized bookkeeping systems to maintain financial records and develop, maintain and balance different accounts

Launched in 2015, Canada's Express Entry system offers 3 economic immigration pathways, all leading to permanent residence in Canada. Individuals with their occupation code as NOC 1311 can also acquire Canada PR through the Provincial Nominee Program [PNP]. Each of the PNP streams has its own specific requirements. An IRCC Express Entry candidate that is able to secure a PNP nomination is guaranteed an invitation to apply for permanent residence in Canada.

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