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Marketable Canadian careers in finance

Jamaica to Canada

Antonn Brown

Wednesday, July 30, 2014    

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Hello Mr Brown:

I am a 23-year-old banker at a prominent financial institution in Jamaica. I wish to migrate to or study in Canada as I have relatives in Toronto with whom I would like to reside. I would like to know whether my career area is marketable and the best approach to take in relocating to Canada.

-JS

Dear JS:

I can provide a general response to your queries as you did not specify your position. There are several demand occupations in Canada that relate to banking and finance, which include, but are not necessarily limited to the following:

1. Senior managers — financial, communications and other business services

2. Financial managers

3. Insurance, real estate and financial brokerage managers

4. Financial and investment analysts

5. Securities agents, investment dealers and brokers

6. Other financial officers

Baby boom generation

In order to understand the particular importance of financial services in Canada, one needs to understand the role of demographics. In Canada, there is a demographic group known as baby-boomers, who were born from 1947 to 1966 (Ages 48 to 67).

The baby boom was created by a combination of:

* A post-world war period, as veterans enjoy returning home to their spouses;

* A robust economy; and

* High levels of immigrants in childbearing years which led to higher fertility rates.

The boom ended towards the end of the 1960s due to:

* An increased number of women who pursued higher education, which tended to result in having fewer children;

* An increased number of women who entered the workforce, which resulted in postponing childbirth and the decision to have fewer children; and

* The introduction of birth control pills.

Baby boom generation is special for one particular reason, that is, there are so many of them in Canada. They comprise the largest segment of the Canadian society, which has many profound effects. One example is Canada's need to attract younger, educated professionals for the labour force through immigration programs.

Financial Services

As it relates to baby boomers and financial services, this means that the largest segment of the society will have the most amount of money. Baby boomers will have accumulation of earnings and inheritances from their parents. Consequently, as this group moves from debt management to asset management, financial services will have an increased customer base. This will result in a compounded effect as this demographic group tends to save money, rather than spend money

on consumer goods. Accordingly, their assets will have to be invested. As such, there will be a much larger role for: Investment firms, law firms, estate planning, mutual fund companies, financial planners, insurance companies and banks.

Financial planning program

Whether you wish to pursue post-secondary studies or graduates studies, I think a good approach would be to enrol in a financial programme. For example, Centennial College in Toronto, Ontario offers a financial planning programme that provides the educational requirements for the Certified Financial Planner (CFP) examination. The programme uses instructional materials from professional bodies to deliver the courses. Accreditation gained as a result of successful completion of courses and industry examinations include: The Canadian Securities Course (CSC®) and Wealth Management Essentials (WME®). As reported by the Toronto Board of Trade, "With demographic changes and the need for regulation and associated trained professional, there will be an increasing demand for graduates of the programme."

Graduates will find work in areas associated with their studies and the CFP licence with:

* Banks

* Credit unions

* Financial planning companies

* Life insurance companies

* Mutual fund companies

* Investment dealers.

Immigration strategy

An international student may apply for permanent residence after the completion of their studies. As such, should you wish to pursue permanent residence, it is a good path that also allows you to work part-time during your studies. Canadian experience (qualification and work experience) will make you marketable in Canada, which is the basis for allowing you to apply for permanent residence.

For more information, please visit jamaica2canada.com

Antonn Brown, BA, (Hons), LLB, MSc, RCIC, is an immigration counsel, education agent and managing director of jamaica2canada.com -- a Canadian immigration & education firm in Kingston. Send questions/comments to jamaica2canada@gmail.com

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