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The monetary aspect of the economy is an essential part of every country. For this purpose, many immigrate to Canada as financial analysts. Therefore, issues of finance and financial breakdown to understand the performance and economic growth of every sector in Canada drive the Canadian government and employers to embrace financial analysts from foreign countries who are skilled enough to do the job in Canada.
Moreover, you earn well when you become a financial analyst, making many immigrate to Canada as financial analysts.
But irrespective of how lucrative it is to be a financial analyst in Canada, many foreigners who wish to immigrate to Canada as a financial analyst need to know the requirements and various steps to follow to immigrate to Canada as a financial analyst.
For this reason, this article is designed to answer your questions and guide you through how to immigrate to Canada as a financial analyst.
Thus, you will know what financial analysts do in Canada, the necessary steps to follow, and the general and specific requirements for you to immigrate to Canada as a financial analyst.
Therefore, as you read through, you will be guided appropriately by his article in order to achieve your plan to immigrate to Canada as a financial analyst.
What financial analysts do in Canada
There are so many financial-related jobs in Canada, but people immigrate to Canada as financial analysts to do the following:
First, 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.
Moreover, their studies and evaluations cover takeover bids, private placements, and mergers or acquisitions.
However, financial analysts are employed by many establishments throughout the private and public sectors, such as banks, brokerage houses, insurance companies, investment companies, manufacturing companies, trust companies, utility companies, and underwriting firms. Investment analysts are employed primarily by brokerage houses and fund management companies.
Types of jobs under financial analyst in Canada
People who immigrate to Canada as financial analysts move to work under any of the titles in thisNOC category 1112. Therefore, the titles include:
- assistant financial analyst
- bond analyst
- chartered financial analyst
- corporate investment adviser
- cost financial analyst
- finance and commercial affairs analyst
- financial analysis consultant
- financial services economic analyst
- securities analyst
- financial services research associate
- fiscal projections consultant
- investment analyst
- financial analyst
- junior financial analyst
- money market analyst
- senior financial analyst
- mutual fund analyst
- senior planning and yield analyst
- portfolio manager
- regional financial analyst
- securities research analyst
- senior investment officer
- investment consultant
- senior planning and return analyst
Exclusions from financial analysts in Canada
However, the following job titles are excluded from the financial analyst job according to NOC code 1112 in Canada.
So the excluded ones are:
- Economic development officers (See 4163 Business development officers and marketing researchers and consultants)
- Economists (See4162 Economistsand economic policy researchers and analysts)
- Financial planners (See 1114 Other financial officers)
- Securities agents, investment dealers, and brokers (See 1113 Securities agents, investment dealers, and brokers
Primary duties of a financial analyst in Canada
Immigrants to Canada as a financial analysts have several duties to perform, but their primary duties are:
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.
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 to immigrate to Canada as a financial analyst
Every worker in Canada must meet the requirements to work in Canada. These requirements are divided into two: general and specific requirements.
Therefore, before you can immigrate to Canada as a financial analyst, you must meet both requirements.
General requirements to work in Canada
The following are the general requirements to immigrate to Canada as a foreign worker.
- Language requirements
- Age requirements
- Education requirements
- Arranged employment
- Adaptability
- Work experience
- Your partner’s ability
- Proof of fund
#1:Language
You must provide a language proficiency test to work in Canada. This test shows that you can speak, listen, write and read any of the Canadian languages. Some of Canada’s accepted language tests include English IELTS, TOEFL, and Duolingo.
Therefore, before you can immigrate to Canada as a financial analyst, you must present a test result from any of the accepted language exams.
#2:Age
You must be between 18 and 35 years before you can immigrate to Canada as a foreign worker. Therefore, if you have either passed or have not reached that age, it will be hard for you to immigrate to Canada as a foreigner.
#3:Education
To immigrate to Canada as a worker, you must have completed your high school education. And to prove this, you have to get a report from the Education Credential Assessment. Without this report, you cannot immigrate to Canada as a financial analyst.
#4:Arranged Employment
Another deciding factor is arranged employment. You will score more points in the comprehensive ranking system with arranged employment. Therefore, if you have the opportunity of getting a valid job offer from a Canadian employer, it is accepted.
However, before you get a job offer, you must meet the minimum requirements for the job. In addition, your employer must get a clearance from the Labour Market Impact Assessment.
#5:Adaptability
Your ability to adapt to the Canadian weather is also another factor. To immigrate to Canada, you will have to provide medical proof that you can survive the Canadian weather.
#6:Work experience
It is a significant factor to consider if you have previous work experience, especially in Canada. This is because it shows that you have work experience requirements to work in Canada.
#7:Your partner’s skills
In addition to your work experience and skills, the skills, work experience, age, and language proficiency of your accompanying spouse or common-law partner can be helpful.
Proof of funds
Every worker in Canada must show proof of a monetary fund of $10,000. This proof of funds shows you have enough money to take care of your living expenses in Canada.
Therefore, before you can immigrate to Canada as a financial analyst, you must provide proof of financial funds from a trusted financial institution.
Specific requirements to immigrate to Canada as a financial analyst
To immigrate to Canada as a qualified financial analyst under NOC code 1112, you will need to have your credentials certified by Canada as a specific requirement to perform this work.
Therefore, apart from your general requirements, you must also meet the specific provisions below before you can immigrate to Canada as a financial analyst.
- A bachelor’s degree in commerce, business administration, or economics.
- 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 Institute of Chartered Financial Analysts in the United States, may be required by some employers.
See Also:Cost to Move to Canada from the United States – 5 Fastest Programs
Pathways to immigrate to Canada as a financial analyst
The following immigration pathways will help you to immigrate to Canada as a financial analyst; therefore, you can choose from any of them:
- Express entry
- Provincial Nominee Programs
- In-Demand occupations
- Job offer
#1: Express entry
This is the easiest way to immigrate to Canada as a financial analyst. This is because you have different programs to choose from. Therefore, you can make your choice based on your experience and qualifications.
Secondly, many factors can make you score very good points in CRS’s comprehensive ranking system.
Meanwhile, there are three programs under the express entry system. They include:
- Federal skilled trades program
- Canada experience class
- A federal skilled worker program
#2: Provincial Nominee Program
Apart from express entry, every province has a provincial program for foreign workers who want to immigrate to the province. However, before using the PNP, you must meet the requirements to work in the province.
#3: Job offer
A job offer is a fast track to immigrating to Canada as a conservation and fishery officer. Therefore, if you have a job offer, you can use it as a pathway to immigrate to Canada as a financial analyst. This is because it shows that you meet the requirements for the job. However, your employer must prove that no Canadian citizen or permanent resident can fill the position.
#4:In-demand jobs
Many jobs in Canada are regarded as in-demand jobs. This means that there are many vacancies in that position in Canada. Therefore, employers are looking for foreign workers to fill vacant positions.
Steps to immigrate to Canada as a financial analyst
Immigrating to Canada as a financial analyst may not be an easy task. However, with the right guidance and steps, it will become easy. Therefore following the steps below will help you to immigrate to Canada and work as a financial analyst:
#Step 1: Create an express entry account
Before you immigrate to Canada as a financial analyst, you must, first of all, create an Express Entry profile account. This is the only way to get updates and information from theIRCC. To create this account, you must visit the IRCC official website.
#Step 2: Select a program
The next step is to select a program. The particular program you choose must reflect your qualifications and experience. Therefore, before you choose a program, make sure to understand the requirements. The programs include:
- Canada Experience Class
- A federal skilled worker program
- Provincial Nominee programs
- Quebec Experience Class
- Federal skilled trade program
- Quebec skilled worker program
#Step 3: Find a job in Canada
If it is possible, find a job. You can easily immigrate to Canada as a financial analyst with a valid job offer. However, you must meet the requirements for the job.
#Step 4: Receive an invitation to apply.
Once you have created your express entry profile, expect to get an invitation to apply from the IRCC. However, not everyone who created an express entry profile will receive this invitation. This invitation is based on the comprehensive ranking system, the official method used to determine the best candidates.
#Step 5: Submit your application with supporting documents
When you receive an invitation to apply, you have 60 days to reply. First, therefore, you must get your application and other documents ready. If you fail to meet up, you must wait for the next express entry pool.
#Step 6: Get your work permit.
You will get a reply from the IRCC within 28 days. If, on the contrary, you don’t receive a response, it means that a document is missing in your paper or that you put false information in your application. Therefore, you have to send your application with the supporting documents again. Meanwhile, remember to include an application fee of CAD 150.
#Step 7: Welcome to Canada
The final step is entering Canada as a financial analyst. This is the most needed time. Once you have submitted your application and paid your fee, you can begin preparations to arrive in Canada.
Remember to collect your work permit at the Canadian port of entry.
Frequently Asked Questions
Do I need a job offer to immigrate to Canada as a financial analyst?
No, you must not have a job offer before you can immigrate to Canada as a financial analyst. However, with a valid job offer, it becomes easy.
What is the processing time for a work visa to enter Canada as a financial analyst?
The processing time for a Canadian work permit is between 3 and 6 months.
What is the average salary of a financial analyst in Canada?
The average salary for a Financial Analyst in Canada is C$59,599 annually.
Conclusion
The works of analysts in Canada are so attractive that immigrants never regret immigrating to Canada as financial analysts. Therefore you can consider going to Canada.
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