Overview
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.
This group performs some or all of the following duties:
Banking managers
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
Network to develop business relations, promote the sale of loan, investment and other banking services and attract corporate and individual customers
Interview corporate and individual customers and respond to customer enquiries
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
Recruit personnel and identify their training needs.
Credit managers
Plan, organize, direct, control and evaluate the activities of a credit department in an industrial or commercial organization
Administer corporate, commercial and personal loan accounts
Advise customers on the commercial and personal financial services corresponding to their needs
Evaluate and review loan and credit applications and collateral and make recommendations
Approve or reject credit applications, establish credit limits and determine repayment plans or schedules in accordance with authorized limits
Ensure collection of overdue or delinquent accounts
Ensure credit policies and procedures are followed according to established guidelines and applicable legislation
Prepare credit and loan reports
Recruit credit personnel and identify their training needs.
Employment prospects
Annual salary
$73,205
$110,287
$217,737
Job openings
Use this interactive map to explore job openings in different regions across B.C.
Strong job outlook
British Columbia
2,242expected job openings (5-year forecast)
Education and training
Employment requirements
A university degree or college diploma in business administration, commerce, economics or a related field is usually required.
A master's degree in business administration, finance or management science may be required for the management of large commercial loans.
A recognized financial designation may be required (CFA, CFP, CIM or others).
Additional information
Progression to senior management positions in this field is possible with experience.
Certification requirements
Mandatory: You need the following certification to practice as Banking, credit and other investment managers in B.C.
- Chartered Investment Manager (CIM ®) - Banking Managers
Optional: The following certifications are optional to practice as Banking, credit and other investment managers in B.C.
- Certified Financial Planner® (CFP®) Certification - Banking Managers
- Chartered Financial Analyst® (CFA®) - Banking Managers
Chartered Investment Manager (CIM ®) - Banking Managers
To work as an investment manager in B.C., you may choose to earn the Chartered Investment Manager (CIM ®) designation. Eligibility for this designation is achieved through the completion of requisite courses and at least 2 years of relevant work experience.
Employment as a banking, credit, or other investment manager additionally requires several years of work experience.
Certified Financial Planner® (CFP®) Certification - Banking Managers
Confirm with the certifying body that your intended program qualifies you for this certification.
To work as a financial planner in B.C., you may choose to earn the Certified Financial Planner® certification through FP Canada. To obtain the CFP designation, candidates must complete a rigorous education program, pass a national exam, have a post-secondary degree and demonstrate three years of qualifying work experience.
Employment as a banking, credit, or other investment manager additionally requires several years of related work experience.
Chartered Financial Analyst® (CFA®) - Banking Managers
To work as a financial analyst in B.C., you may choose to earn a Chartered Financial Analyst (CFA®) designation. You can earn the designation by completing the CFA® Program and acceptable work experience requirements.
Employment as a banking, credit, or other investment manager additionally requires several years of related work experience.
Work Experience
Work experience required
Post-secondary programs in B.C.
Explore programs related to this career offered at post-secondary institutions in B.C.