Description
Banking, credit and other investment managers plan, organize, direct, control and evaluate the activities of financial establishments or operational departments within such establishments, or credit departments in industrial and commercial establishments. They oversee business development and manage overall performance in accordance with established strategic directions and policies. Banking managers are employed by banks, trust companies and credit unions. Credit managers are employed by credit departments in department stores, utility companies, car dealerships, insurance companies or other industrial or commercial organizations. Other investment managers are employed by credit card companies, consumer loan companies, mutual fund investment firms, mortgage investment companies or other financial establishments concerned with extending loans and financing and investments.
Job Titles
- Banking centre manager
- Credit union manager
- Financial services manager
- Loan and credit manager – banking or trust company
- Regional bank manager
- Trust company investment manager
- Trust company manager
Main Duties
- Network to develop business relations, promote the sale of loan, investment and other banking services and attract corporate and individual customers
- Analyze, review and approve or reject loan and credit applications in accordance with authorized limits
- Monitor processing of loan applications and credit investigations
- Oversee preparation of monthly financial and branch progress reports
- Plan, organize, direct, control and evaluate the branch operations of a bank, trust company, credit union or similar financial institution or of a department in such an institution responsible for administering personal and commercial loans, buying and selling securities, operating investment funds, administering trusts, settling estates or other related activities
- Ensure the institution’s policies and procedures are followed according to established guidelines and make recommendations for improvement
- Interview corporate and individual customers and respond to customer enquiries
- Recruit personnel and identify their training needs.
Workplaces
- Banks
- Consumer loan companies
- Credit card companies
- Credit unions
- Mortgage investment companies
- Mutual fund investment firms
- Other financial establishments concerned with extending loans and financing and investments
- Trust companies
Skills
- Learning and Teaching Strategies
- Management of Financial Resources
- Management of Personnel Resources
- Monitoring
- Persuading
Abilities
- Mathematical Reasoning
- Categorization Flexibility
- Deductive Reasoning
- Fluency of Ideas
- Information Ordering
Personal Attributes
- Attention to Detail
- Service Orientation
- Stress Tolerance
- Active Learning
- Adaptability
Similar Occupations
- Senior managers – financial, communications and other business services (00012)
- Other business services managers (10029)
Source: OaSIS
Employment Outlook
The employment outlook will be Moderate for banking, credit and other investment managers (NOC 10021) in Prince Edward Island for the 2025-2027 period.
The following factors contributed to this outlook:
- Employment growth will lead to a moderate number of new positions.
- A moderate number of positions will become available due to retirements.
- There are a small number of unemployed workers with recent experience in this occupation.
Here are some key facts about Banking, credit and other investment managers in Prince Edward Island:
- Approximately 150 people worked in this occupation in May 2021.
- Banking, credit and other investment managers mainly work in the following sectors:
- Monetary Authorities – central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 83%
- Other retail stores (NAICS 44-45, except 445): 17%
- 80% of banking, credit and other investment managers work all year, while 20% work only part of the year, compared to 59% and 41% respectively among all occupations. Those who worked only part of the year did so for an average of 46 weeks compared to 41 weeks for all occupations.
- The gender distribution of people in this occupation is:
- Men: 48% compared to 51% for all occupations
- Women: 52% compared to 49% for all occupations
- The educational attainment of workers in this occupation is:
- no high school diploma: n/a
- high school diploma or equivalent: 35% compared to 28% for all occupations
- apprenticeship or trades certificate or diploma: 12% compared to 11% for all occupations
- college certificate or diploma or university certificate below bachelor’s: 19% compared to 25% for all occupations
- bachelor’s degree: 27% compared to 17% for all occupations
- university certificate, degree or diploma above bachelor level: 8% compared to 8% for all occupations
Source: Job Bank
Prevailing Wages
| AREA | LOW | MEDIAN | HIGH |
|---|---|---|---|
| PEI | $35.38 | $45.64 | $61.54 |
| Canada | $37.44 | $57.14 | $91.35 |
Training
There are no known training programs for this occupation in PEI. If you are aware of a local training program, please contact us.
There are currently no job listings for this occupation on WorkPEI.