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Banking/Investment Manager

Banking and investment managers plan and direct the activities of departments or branches in financial establishments. These can include banks, credit unions, trust companies, mortgage firms, and mutual fund investment companies.

Also Known As

Account Manager, Bank Manager, Branch Manager, Banker, Commercial Banking Account Manager, Financial Planner, Financial Services Account Manager, Personal Banker, Retail Banking Account Manager

NOC Codes

In Canada, the federal government groups and organizes occupations based on a National Occupational Classification (NOC) system. This alis occupation may not reflect the entire NOC group it is part of. Data for the NOC group can apply across multiple occupations.

The NOC system is updated every 5 years to reflect changes in the labour market. Government forms and labour market data may group and refer to an occupation differently, depending on the system used. Here is how this occupation has been classified over time:

  • 2006 NOC: Banking and Other Investment Managers (0122.1) 
  • 2006 NOC-S: Banking, Credit and Other Investment Managers (A302) 
  • 2011 NOC: Banking, credit and other investment managers (0122) 
  • 2016 NOC: Banking, credit and other investment managers (0122) 
Interests & Abilities

In Alberta, this occupation is part of 1 or more 2006 National Occupational Classification (NOC) groups. If there are multiple related NOC groups, select a NOC heading to learn about each one.

Banking and Other Investment Managers

2006 NOC: 0122.1

Interest Codes

Interest Codes for This NOC Group
DIRECTIVE

Interest in co-ordinating information to direct and control the branch operations of financial institutions or of departments within such institutions that are responsible for administering personal and commercial loans, buying and selling securities, operating investment funds, administering trusts, settling estates and other financial activities; and in approving or rejecting loan and credit applications, and recruiting personnel and identifying their training needs

METHODICAL

Interest in ensuring that institutional policies and procedures are followed according to established guidelines, and in monitoring credit investigations and processing loan applications

social

Interest in negotiating with other managers, representatives of financial and other institutions and staff to arrive at decisions; and in networking to develop business relations

Your Interest Codes

To identify or change your interest codes, complete the Interests Exercise in CAREERinsite.

Reading Interest Codes
A Quick Guide

The interest code helps you figure out if you’d like to work in a particular occupation. 

It’s based on the Canadian Work Preference Inventory (CWPI), which measures 5 occupational interests: Directive, Innovative, Methodical, Objective, and Social.

Each set of 3 interest codes for this NOC group is listed in order of importance.

A code in capital letters means it’s a strong fit for the occupation.

A code in all lowercase letters means the fit is weaker.

Learn About Interests

Abilities

Typical ability expectations for this NOC group
Your abilities

To fill in or change the values for your abilities, complete the Abilities Exercise in CAREERinsite.

Mental Abilities

General Learning Ability

Verbal Ability

Numerical Ability

Visual Abilities

Spatial Perception

Form Perception

Clerical Perception

Physical Abilities

Motor Coordination

Finger Dexterity

Manual Dexterity

Understanding Abilities

A Quick Guide

You are born with abilities that help you process certain types of information and turn it into action. These abilities influence which skills you can learn more easily.

The abilities or aptitudes shown for this NOC group come from the General Aptitude Test Battery (GATB). The GATB measures 9 aptitudes. It groups them into 3 categories: mental, visual, and physical.

The abilities scores range from 1 to 5, with 5 being stronger.

Learn About Abilities

Duties
Updated Apr 05, 2022

Banking and investment managers oversee the success of their departments or branches.

Duties and tasks vary from 1 department and institution to another. In general, banking and investment managers:

  • Ensure that deposit, investment, and loan sales and services meet regulatory and company policy requirements
  • Follow security procedures and report unusual (possibly fraudulent) activity
  • Control and submit reports on the workings of the institution and its employees
  • Develop strategic plans to grow their department or branch
  • Plan and budget for the operation of their establishments
  • Coordinate maintenance activities
  • Set sales goals and expectations for staff
  • Direct procedures such as accepting loan applications and approving credit
  • Develop customer service procedures
  • Deal with customer complaints
  • Manage and coach staff and facilitate employee development
  • Analyze economic conditions and market trends

Bank managers in small branches may perform banking procedures directly. They may:

  • Sell banking and investment products and services
  • Process loan applications
  • Identify customer needs and preferences by responding to questions and initiating customer interactions
  • Clarify customers’ long-term financial goals
  • Provide information and customized plans to help customers achieve their goals

In larger branches, managers supervise the work of account managers and other banking representatives.

Banking and investment managers must keep up to date with changes (such as new legislation) that affect their industry. They work in close cooperation with advertising and sales departments. They are sometimes required to represent their organizations in the community. They often become involved in service clubs and volunteer work.

Working Conditions
Updated Apr 05, 2022
  • Strength Required Lift up to 5 kg

Banking and investment managers often work extended hours. They may sometimes need to travel to visit customers. At the beginning of their careers, they may be required to move often.

Traits & Skills
Updated Apr 05, 2022

Banking and investment managers need:

  • Personal integrity
  • Persistence and persuasion
  • Good judgment
  • Communication skills
  • Interpersonal skills
  • Problem-solving skills
  • Leadership skills
  • The ability to work in a hectic environment and multitask
  • An interest in and willingness to keep their knowledge up to date

They should enjoy:

  • Supervising and coordinating the work of others
  • Having clear rules and methods to guide their activities
  • Working with people
Educational Requirements
Updated Apr 05, 2022
  • Minimum Education 2 years post-secondary

Many banking and investment managers have worked their way up by gaining experience in management trainee and junior management positions. Most companies have extensive training programs that allow trainees to work their way up through the ranks.

Most employers prefer to hire applicants who have a related university degree or post-secondary diploma. Post-secondary graduates may complete the in-house training in less time than those without post-secondary education.

Post-secondary schools throughout Alberta offer commerce, business administration, and related degree and diploma programs.

Managers who specialize in areas such as credit management, selling investments, or financial planning must have appropriate training. For more information, see the following occupational profiles:


To expand or narrow your search for programs related to this occupation, visit Post-Secondary Programs.

Completing a program does not guarantee entrance into an occupation. Before enrolling in an education program, prospective students should look into various sources for education options and employment possibilities. For example, contact associations and employers in this field.

Certification Requirements
Updated Apr 05, 2022
  • Certification Not Regulated

Banking and investment managers need to be registered as compliance officers.

Under Alberta’s Securities Act [pdf], you must be registered with the Alberta Securities Commission (ASC) to deal in, advise on, and manage funds and securities.

For details, visit the ASC and Investment Industry Regulatory Organization of Canada (IIROC) websites.

Employment & Advancement
Updated Apr 05, 2022

Banking and investment managers work in:

  • Banks
  • Credit unions
  • Trust companies
  • Mortgage investment companies
  • Securities firms

Advancement opportunities vary depending on the size and type of company. Some employers prefer to train their own personnel and promote from within.

Industry Concentration

This section shows the industries where the majority of people in this occupation work. The data is based on the 2016 Census.

In Alberta, this occupation is part of 1 or more 2016 National Occupational Classification (NOC) groups.

In the 0122: Banking, credit and other investment managers occupational group, 81.8% of people work in:

Employment Outlook

Employment outlook is influenced by a wide variety of factors including:

  • Time of year (for seasonal jobs)
  • Location in Alberta
  • Employment turnover (when people leave existing positions)
  • Occupational growth (when new positions are created)
  • Size of the occupation
  • Trends and events that affect overall employment, especially in the industry or industries from the previous list

In Alberta, the 0122: Banking, credit and other investment managers occupational group is expected to have a below-average annual growth of 1.7% from 2019 to 2023. In addition to job openings created by employment turnover, 78 new positions are forecasted to be created within this occupational group each year.

Note
NOC groups often include several related occupations. Although there is labour market data for the larger NOC group, this occupation makes up only a part of that group. It means data for this occupation may be different than the data shown. For example, only some of the new positions to be created will be for this occupation. It also applies to other data for the NOC group such as number of people employed.

Source: Alberta Regional Occupational Demand Outlook

Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.

Related Alberta Job Postings
Wage & Salary
Updated Apr 05, 2022

Some banking and investment managers receive annual bonuses. The amount usually depends on the branch’s activities and the manager’s performance.

In Alberta, this occupation is part of 1 or more 2016 National Occupational Classification (NOC) groups. If there are multiple related NOC groups, select a NOC heading to learn about each one.

Banking, credit and other investment managers

2016 NOC: 0122
Average Wage
$50.41
Per Hour
Average Salary
$102,925.00
Per Year
Average Hours
39.4
Per Week
Average Months on Payroll
12
Survey Methodology Survey Analysis

Source
2021 Alberta Wage and Salary Survey

NOC 0122 Wage Profile

Unless otherwise noted, the data shown here is for all industries and all regions in Alberta.

All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production), and other forms of compensation.

To see the full survey data for this NOC group, visit the wage profile.

Other wage sources
To make an informed wage and salary decision, research other wage sources [pdf] to supplement this data.

B: Good Reliability
Data Reliability Code Definition

Good Reliability, represents a CV of between 6.01% and 15.00% and/or fewer than 30 survey observations and/or if survey observations represent less than 50% of all estimated employment for the occupation.


Hourly Wage

For full-time and part-time employees
  • Low
  • High
  • Average
  • Median
Starting
Overall
Top

Hourly Wage

For full-time and part-time employees
Wages* Low (5th percentile) High (95th percentile) Average Median
Starting $18.00 $71.15 $38.77 $38.51
Overall $19.00 $79.49 $50.41 $49.71
Top $20.00 $120.00 $61.71 $63.08

Swipe left and right to view all data. Scroll left and right to view all data.

* All wage estimates are hourly except where otherwise indicated. Wages and salaries do not include overtime hours, tips, benefits, profit shares, bonuses (unrelated to production) and other forms of compensation.

Pay brackets for hourly wages

  • Starting pay: average pay offered for entry-level positions
  • Overall pay: average pay across all employees in this occupation
  • Top pay: average pay offered to top-paid employees

Industry Information

Retail Trade
Public Administration
ALL INDUSTRIES
Finance, Insurance, Real Estate, Leasing
Wholesale Trade

Skills Shortage

Employers that Recruited in the Last 2 Years
34%
34%)
Recruiting Employers that Experienced Hiring Difficulties
19%
19%
Employers with Unfilled Vacancies of over 4 Months
5%
5%
Vacancy Rate
2%
Related Post-Secondary Field of Study
  • Business, Management and Administrative Studies
Other Sources of Information
Updated Apr 05, 2022

Alberta Securities Commission (ASC) website: www.asc.ca

Canadian Securities Institute website: www.csi.ca

Investment Industry Regulatory Organization of Canada (IIROC) website: www.iiroc.ca

The Investment Funds Institute of Canada (IFIC) distance learning website: www.ifse.ca

Get information and referrals about career, education, and employment options from Alberta Supports.

Updated Mar 31, 2022. The information contained in this profile is current as of the dates shown. Salary, employment outlook, and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.

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