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Immigrate to Canada as a Financial Manager – Full Guide

This article answers your questions on how to Immigrate to Canada as a Financial Manager.

Every country checks flows of finances against bad economic situations like inflation, hence making the Canadian government employ those who immigrate to Canada as a financial manager.

Therefore, financial management is a very important aspect of every country and any establishment. This is because it determines the progress and backwardness of a country in terms of economy. 

In regard to this, many foreigners who plan to immigrate to Canada as a financial manager are not making the wrong decision, but rather taking a bold step towards bettering their lives and any Canadian employer who employs them.

Moreover, making financial policies like monetary policies is what the Canadian government can not relent at. Whereas, these policies are better made by the financial managers who know and understand the implications of policy making. 

Therefore, to immigrate to Canada as a financial manager is a very good thing you can do now if you know the necessary steps and requirements to do that.

However, this article is going to guide you through on what financial managers do in Canada, necessary requirements and the steps to follow in order to immigrate to Canada as a financial manager.

What a financial manager do in Canada

In Canada there are certain things financial managers do which includes the following :

Financial managers plan, organize, direct, control and evaluate the operation of financial and accounting departments. 

Also, they develop and implement the financial policies and systems of establishments. 

Moreover, financial managers establish performance standards and prepare various financial reports for senior management. 

However, they are employed in financial and accounting departments, in companies throughout the private sector and in government.   

Examples of works under financial manager in Canada

Every occupation on the Canadian NOC List is assigned a code and the code for those looking to migrate to Canada as a Financial manager is 0111. This is also known as the NOC Code for Financial managers Immigrating to Canada.

Moreover, in Canada, every occupation falls under the Canadian NOC code. Whereas financial manager is under the NOC 0111 and it contains work titles under which is expected of any person who immigrates to Canada as a financial manager. Therefore, example of the works are:

  • Accounting and financial control chief
  • Finance director
  • Accounting and financial control director
  • Financial evaluations director
  • Accounting department manager
  • Director of accounting
  • Accounting director
  • Corporate financing manager
  • Accounting manager
  • Financial control manager
  • Accounting manager – financial services department
  • Assigned public accountants chief
  • Financial planning and reporting manager
  • Assistant accounting manager
  • Comptroller
  • Assistant treasurer – finances
  • Finance chief
  • Audit and compliance director
  • Financial director
  • Auditing department manager
  • Financial audit manager
  • Budget and sectoral profitability director
  • Financial planning and reporting director
  • Collections department manager
  • Financial planning and analysis manager
  • Controller – financial services
  • Accounting office manager
  • Finance manager
  • Corporate budgeting and analysis manager
  • Financial manager
  • Corporate controller
  • Financial administrator
  • Corporate risk department manager
  • Financial controller
  • Director – financial services
  • Finance and control manager
  • Director-treasurer – financial services
  • Financial planning and advisory service manager

Job Inclusion under financial manager

There are some job titles that are included among the jobs of a financial manager in Canada but are not listed under the Canadian NOC code. The job titles are:

  • pension services manager
  • corporate risk department manager
  • pension plans administrator

Exclusions from financial manager

However, there are certain jobs that perform similar jobs with a financial manager but they are excluded from the jobs of a financial manager in Canada.

Therefore, when you want to immigrate to Canada as a financial manager, you won’t use them. Hence, the list below shows jobs that are not under the NOC code 0111. They include.  

  • Banking, credit and other investment managers. But you can See at NOC 0122 Banking, credit and other investment managers
  • Managers of accounting and auditing firms. But you can see it at NOC 0125 Other business services managers
  • Senior managers – financial, communications and other business services. But you can see it at NOC 0013 Senior managers – financial, communications and other business services

Main duties of a financial manager in Canada

Those who immigrate to Canada as a financial manager have several duties to perform, however, the main duty which they do in Canada are:

  • Plan, organize, direct, control and evaluate the operation of an accounting, audit or other financial department
  • Develop and implement the financial policies, systems and procedures of an establishment
  • Prepare or co-ordinate the preparation of financial statements, summaries, and other cost-benefit analyses and financial management reports
  • Co-ordinate the financial planning and budget process, and analyze and correct estimates
  • Supervise the development and implementation of financial simulation models
  • Evaluate financial reporting systems, accounting procedures and investment activities and make recommendations for changes to procedures, operating systems, budgets and other financial control functions to senior managers and other department or regional managers
  • Recruit, organize, train and manage staff
  • Act as liaison between the organization and its shareholders, the investing public and external financial analysts
  • Establish profitability standards for investment activities and handle mergers and/or acquisitions
  • Notify and report to senior management concerning any trends that are critical to the organization’s financial performance
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Employment requirements to immigrate to Canada as a financial manager

When you immigrate to Canada as a foreign worker, you will have to meet two categories of requirements which are general and specific requirements. Therefore, the general requirements every immigrant in Canada must meet are thus. 

General requirements to work in Canada

Every immigrant who wants to work in Canada must meet the general requirements in order to immigrate to Canada. Therefore, general requirements to immigrate to Canada as a worker are:

  1. Language requirements
  2. Age requirements
  3. Education requirements
  4. Arranged employment
  5. Adaptability
  6. Work experience
  7. Your partner’s ability

#1: Language

English language proficiency test is a general and a necessary requirement from anybody who wants to immigrate to Canada to work. Since you are going to be communicating in English, you must prove that you can speak the English language. Therefore, you must present a test result showing that you have at least a working knowledge of the English language. However, if you plan to live and work in Quebec, French becomes the requirement.  

#2: Age

Immigrating to Canada as a financial manager, you must attain a certain age. Therefore, if you  have not reached the Canadian working age, you cannot work in Canada. Generally, the working age in Canada is 18 years. But if your employer meets certain requirements, they can consider less than 18 years to work for them.

#3: Education

Again, the education requirements for Canadian workers is high school  education. What this means is that before you can move to Canada as a worker, you must have completed your secondary education.

However, certain jobs demand that you must have completed a University degree. And one of them is a financial manager. Therefore, you cannot immigrate to Canada as a financial manager  with just secondary school education.

#4: Arranged employment

If you can arrange employment with a Canadian employer, it becomes easy  for you to immigrate to Canada as a financial manager. However, your employer must get a certification from the Labour Market Impact Assessment. In addition to that, you must also be the best candidate for the job. 

#5: Adaptability

Your adaptability to the Canadian weather can also help you while immigrating to work in Canada. Apart from that, you must be able to  adapt to the demands of the job. Therefore, before you can move to Canada as a financial manager, you must have a medical checkup to determine your fitness.  

#6: Work experience

In most cases you may need work experience to immigrate to Canada as a worker. Even though this may not be compulsory, it helps you to score high in the comprehensive ranking system. Therefore, if you have any previous work experience, you can apply for it while submitting your application.  

#7: Your partner’s skills

In addition to your work experience and skills, the skills, work experience, age as well as the language proficiency of your accompanying spouse or common law partner can be helpful. Therefore, try to put all  of them. This is because there is a score for  them in the CRS points grid.

Specific requirements to immigrate to Canada as a financial manager

Apart from the general requirements,  there are specific requirements you must meet to immigrate to Canada as a financial manager. Therefore, you must meet the requirements below:

  1. A bachelor’s degree in business administration, economics, commerce or a related field is required.
  2. A master’s degree in business administration (concentration in finance), or another master’s level management program may be required.
  3. Several years of experience in accounting, auditing, budgeting, financial planning and analysis or other financial activities are required.
  4. Accounting and audit managers may require a recognized accounting designation (CPA, CA, CPA, CMA or CPA, CGA)

Pathways to immigrate to Canada as a financial manager

Immigrants can enter Canada to work through different pathways as introduced by the Canadian government. For you to immigrate to Canada as a financial manager, you can choose from any of the following pathways to achieve your immigration plan. 

However, you must check to know the best program based on your qualifications. For instance, as a financial manager, you can use any of the programs under the express entry system. But, if you  do not have enough experience, the Canada Experience Class may not suit you.

Therefore, you must select a program that will be helpful to you. Hence, you can make use of any of the programs listed below: 

  1. Express entry
  2. Provincial Nominee Programs
  3. In-Demand occupations
  4. Job offer
  5. Quebec Experience Class

1: Express entry

This is one of the easiest pathways to immigrate to Canada as a financial manager. However, you must meet the requirements for whichever program you choose.

Therefore, before you select a program, check and know if you  meet the program requirements. Meanwhile, there are three programs under the express entry system. The programs include: 

  • Canada experience class
  • Federal skilled worker program
  • Federal skilled trades program. 

2: Provincial Nominee Program

In case you do not want to use the express entry, you can use the PNP. This is equivalent to the express entry. However, this time around, it is managed by the provincial governments. Therefore, if you meet the requirements, you can apply  for it.

However, you must be ready to live and work in that province. In addition to that, you must be ready to adapt  to the weather of the province. 

3: Job offer

However, immigrating to Canada as a financial manager may  not be easy but with a valid job offer, you can now move to Canada easily. However, before you can use this pathway, there are certain conditions your employer must fulfill.

First of all, the Canadian employer must get a clearance from the LMIA. Secondly, the employer must prove that you are the best candidate for the job.

In addition, you must meet all the requirements for the job. 

4: In-demand jobs

Having known that being a financial manager is an in-demand job in Canada. It is easy to immigrate to Canada as a financial manager using the in-demand program. However, you will have to find a Canadian employer.

5: Quebec Experience Class

When you plan to live and be working in Quebec, then, this is for you. However, there are specific requirements you must meet. For instance, you must prove your proficiency in French language. Secondly, you must meet the requirements for working in Quebec. Then, you must be able to adapt to the weather in Quebec. 

Steps to immigrate to Canada as a financial manager

There are certain steps to follow when you plan to immigrate to Canada as a financial manager. It is good that you know the step by step guide on how to move to Canada. Therefore, you  can follow the steps below while going to Canada to work as a financial manager:

Step 1 : Create an express entry account 

The first step to take is to create an  Express entry profile. This is where you will be getting all the updates about Canada immigration. Therefore, you must open an account to make your dream come true.

Meanwhile, when you are opening the act, you must put the correct details. If you don’t do this, you will end up losing your chances of moving to Canada.  In order to create an Express entry profile, you must visit the official IRCC website. 

Step 2: Enter a program

The second step is to choose the program. This is when you select a particular program you want to use for your immigration to Canada as a financial manager. Therefore, you must be very careful while doing this. Meanwhile, you should select a program based on your qualifications and experience.

For instance if you have enough experience, the best option for you is the Canada experience class. Therefore, you must make sure that you choose the best program based on your qualifications. Despite that, you should check  to know the requirements for each program. The programs include:

  • Canada Experience Class
  • Federal skilled trade program
  • Provincial Nominee programs
  • Quebec Experience Class
  • Federal skilled worker program
  • Quebec skilled worker program

Step 3: Find a job in Canada

 With a valid job offer, you can immigrate to Canada as a financial manager easily. However, your employer must prove that you are the best candidate for the job. What this means is that no Canadian citizen or permanent resident can take up the job except the foreign employee.

Step 4: Receive an invitation to apply

As you create your express entry profile, you must also be gathering the necessary documents. This is because, if you are among the candidates with the highest CRS points, you will receive an invitation to apply for a visa. 

Step 5: Submit your application with supporting documents 

If you receive an invitation to apply, you have only 60 days to reply. Therefore, you must keep everything you need ready. In addition to the application and supporting documents, you will pay a fee of CAD$150 as application fee. If any of the documents is missing, your visa will not be processed. Therefore, you will not immigrate to Canada as a financial manager.

Step 6: Get your work permit

You will get a reply from IRCC if your documents are complete  that your application has  been processed. However, if any of your documents is missing or is incorrect, you won’t get this update. Therefore, you must resend the documents with another application fee. Meanwhile, you are likely to get a reply from IRCC within 28 days. 

Therefore, start making preparations to travel to Canada. However, you will not get your visa work permit at your home country, so you can travel to Canada immediately when you receive the reply from IRCC.   

Step 7: Arrive in Canada

Lastly, you can arrive in Canada. This is the final moment. However, remember to collect your work permit from an immigration officer once you arrive in Canada.

If the permit is not yet ready, you will have to book an appointment with the officer at the port of entry. Meanwhile, the official will give you a written note stating when your permit will be ready.

Frequently Asked Questions

Do I need a job offer to immigrate to Canada as a financial manager?

No, you must not use a job offer to immigrate to Canada as a financial manager, because there are other pathways you can follow but  with a valid job offer, it becomes easy.

What is the average salary of a financial manager?

The average salary for a Finance Manager in Canada is C$78,360 per year. 

What is the processing time for a work visa to enter Canada as a financial manager?

The processing time for a Canadian work visa is a minimum of 3 months. However, there can be delays especially if your documents are not complete. In addition, if you do not pay your application fee which is $150  you won’t get your permit.

Conclusion

When you finally immigrate to Canada as a financial manager, you will surely understand how and why your decision to immigrate to Canada as a financial manager is the best decision.