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Investment Underwriter

Investment underwriters help governments and corporations raise capital by providing financial advice and underwriting or distributing new securities.

Also Known As

Banker, Corporate Underwriter, Investment Analyst, Public Finance Underwriter, Underwriter

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: Underwriters (1114.4) 
  • 2006 NOC-S: Other Financial Officers (B014) 
  • 2011 NOC: Other financial officers (1114) 
  • 2016 NOC: Other financial officers (1114) 
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.

Underwriters

2006 NOC: 1114.4

Interest Codes

Interest Codes for This NOC Group
METHODICAL

Interest in obtaining information and documentation related to the underwriting of new issues of stocks, bonds and securities

INNOVATIVE

Interest in analyzing regulations, terms and conditions to underwrite new issues of stocks and bonds and develop information brochures

DIRECTIVE

Interest in negotiating with corporations and governments to determine the types and terms of new securities issued

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 Mar 31, 2022

When governments need to raise new money, they may borrow funds by issuing bonds. The money owed to bond holders is then repaid from taxes and other revenues collected over several years.

Corporations that need money can get it by issuing bonds, debentures, or shares. Investment firms that offer underwriting services may buy securities at a fixed price with the goal of selling at a profit or acting as agents.

The underwriting department, sometimes called the corporate finance or investment banking department, creates revenue by:

  • Obtaining funds on terms that are suitable for the client and competitive with other products
  • Ensuring that any new security is attractive to investors so the firm will be able to sell the entire offering

To achieve these goals, investment underwriters must help their clients with financial planning by:

  • Recommending the best solution to a financing problem in a specific circumstance
  • Advising clients on which markets (Canadian, US, European) will be best for raising the needed funds

Duties vary from one position to another but, in general, corporate underwriters:

  • Look into the issuing company’s financial status, outlook, earning capacity, and management
  • Analyze the value of assets that would be used to secure the new issue
  • Review the condition of securities markets and other factors
  • Decide whether the firm will use only its own sales force or bring in more companies (this reduces risk by making the bonds available to a broader clientele)
  • Advise clients on matters such as debt load, balancing investment portfolios, mergers, acquisitions, asset sales, and corporate reorganization

They may also help the company issuing the bonds to complete a prospectus. This describes the company’s business and the securities it plans to sell. The company must file the prospectus with the provincial securities commission before bringing its new bond issue to market.

In general, public finance underwriters assist federal, provincial, and municipal governments to:

  • Determine their future financial needs
  • Create bond or debenture issues that will offset their financial needs
Working Conditions
Updated Mar 31, 2022
  • Strength Required Lift up to 5 kg

Underwriting is a highly specialized occupation. It involves working long hours in an office setting under constant deadline pressure. Underwriting staff work apart from the rest of the firm, usually in head offices.

Depending on the firm, investments underwriters may do a lot of national and international travel.

Traits & Skills
Updated Mar 31, 2022

Investment underwriters need:

  • Perseverance
  • A degree of aggressiveness
  • An energetic personality
  • Communication and interpersonal skills
  • Leadership skills
  • Analytical skills
  • The ability to learn quickly
  • The ability to handle many projects at one time
  • The ability to maintain confidentiality

They should enjoy taking a methodical approach to gathering and analyzing information. They should like finding innovative solutions, negotiating with others, and directing others’ work.

In Alberta, this occupation is part of 1 or more 2011 National Occupational Classification (NOC) groups. If there are multiple related NOC groups, select a NOC heading to learn about each one.

Top 10 Skills Employers Are Looking For

Other financial officers

2011 NOC: 1114

This chart shows which job skills are currently in highest demand for this occupational group. It was created using this occupation's 12 most recent Alberta job postings, collected between Nov 28, 2021 and Sep 22, 2022.

Review these skills to learn:

  • Whether or not this occupation matches your skill set
  • What training you may need to get these skills
  • What skills to highlight in your resumé, cover letter, and interview.
Analyze clients' financial records
Personal Suitability: Accurate
Personal Suitability: Excellent oral communication
Personal Suitability: Excellent written communication
Personal Suitability: Organized
Personal Suitability: Effective interpersonal skills
Personal Suitability: Team player
Personal Suitability: Dependability
Personal Suitability: Judgement
Personal Suitability: Initiative
Educational Requirements
Updated Mar 31, 2022
  • Minimum Education 6 years post-secondary

Securities firms hire investment underwriters who have related work experience and at least 1 of the following:

  • A master’s degree in business administration or management
  • A Chartered Financial Analyst (CFA) designation
  • A Chartered Business Valuator (CBV) designation
  • An accounting designation
  • A law (LLB) degree

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 Mar 31, 2022
  • Certification Not Regulated

Most firms require their investment underwriters to have completed the Canadian Securities Course (for more information, see the Investment Advisor occupational profile).

In addition, the CVB Institute offers the CBV designation to applicants who have business and securities valuation experience. Visit their website for details about the designation and its requirements.

Employment & Advancement
Updated Mar 31, 2022

Many investment firms prefer to train their own underwriting staff rather than hire someone trained elsewhere. Competition for underwriting positions often is keen. On-the-job training may include about a year of work supervised by senior underwriting staff, preparing analyses and attending client meetings. An apprenticeship period as a junior underwriter follows.

Competition also is keen for opportunities to advance to senior management positions.

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 1114: Other financial officers occupational group, 82.9% 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 1114: Other financial officers occupational group is expected to have a below-average annual growth of 1.6% from 2019 to 2023. In addition to job openings created by employment turnover, 233 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 Mar 31, 2022

Investment underwriters’ incomes are highly variable. Most underwriters receive a base salary plus bonuses.

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.

Other financial officers

2016 NOC: 1114
Average Wage
$39.04
Per Hour
Average Salary
$75,982.00
Per Year
Average Hours
37.6
Per Week
Average Months on Payroll
12
Survey Methodology Survey Analysis

Source
2021 Alberta Wage and Salary Survey

NOC 1114 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 $20.19 $52.88 $32.13 $31.69
Overall $20.19 $85.68 $39.04 $38.69
Top $24.04 $96.15 $45.08 $41.03

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

Public Administration
ALL INDUSTRIES
Finance, Insurance, Real Estate, Leasing

Skills Shortage

Employers that Recruited in the Last 2 Years
46%
46%)
Recruiting Employers that Experienced Hiring Difficulties
6%
6%
Employers with Unfilled Vacancies of over 4 Months
4%
4%
Vacancy Rate
4%
Related Post-Secondary Field of Study
  • Business, Management and Administrative Studies
Other Sources of Information
Updated Mar 31, 2022

Canadian Securities Institute (CSI) website: www.csi.ca

CBV Institute website: cbvinstitute.com

Investment Industry Association of Canada (IIAC) website: iiac.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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