Financial industry professionals along with accountants, bookkeepers and financial directors have historically been in demand in Canada and all indications are that these professionals will be in demand for years to come.
Canada is consistently adding to their accounting industry talent pool by including thousands of qualifying Permanent Residency applicants to fill a variety of vacancies in their labour force. A spokesperson for the Canadian Institutes for Chartered Accounts recently said that at any point 1500 accounting jobs are not being filled due to a lack of available talent, which is a major cause for concern.
Certified General Accountants, Financial Managers, Accounting Technicians, Bookkeepers and Financial Auditors and Professional Charted Accountants are all in short supply in Canada and are therefore listed as a scarce skill. IN an effort to address the problem Canada Citizenship, Immigration and Refugees allows foreigners with enough evidence of their training and experience in a scarce skill to apply for a Canadian visa without a job offer.
Using the country’s Express Entry immigration system the government is able to target occupations that businesses are struggling to fill using local talent and is opening it up to foreigners.
Accountancy roles vary, but generally the job will require a bachelor’s degree at the entry level. The degree can be in accountancy, economics, or in a broader subject such as business administration. Candidates are also advised to consider a master’s degree if they are to pursue managerial roles. Your education credentials will have to be assessed and verified in Canada. Your immigration consultant will be able to put you in touch with an accredited assessor. The Canadian benchmark for assessments is the CPA, or Chartered Professional Accountant. For skilled worker immigrants, some will find the pathway to CPA status easier than others, with specific programs available to gain the Canada-recognized qualification.
Experience is important at every stage of the journey, from internships to placements and formal employment so make sure you list all relevant experience when applying for a position.
As the Canadian economy continues to grow so does the demand on the talent pool from Canadian employers. The problem is that Canada is growing faster than it is able to meet industry needs. To address the problem the Canadian Government has had financial industry related professions listed as a scarce skill not only on a provincial but also a national level.
Scarce Skills Lists
Canadian provinces (which are often governed almost autonomously by the provincial administration) compile lists of skills which are in short supplied and needed to ensure the overall well-being of that province. Some provinces might need more teachers, others more medical personnel but something they have in common throughout all lists is that every province and Canada as a whole is trying to attract Accountants, Bookkeepers, Financial Managers, Business Consultants with an accounting background, Chartered Accountants, Cost Accountants, CFO’s, Financial Directors and so forth. These lists are based on current labour market needs and opportunities in a specific province.
Many provinces are very targeted in their draws – selecting only the best and focusing on certain areas believed to be in need of talent now and in the future. For example, since 2018 Nova Scotia has held targeted draws for early childhood educators and assistants and financial auditors and accountants.
More experienced finance professionals can expect a salary as high as CA$ 104,000 per year, that translates to almost R1,200,000.
If you are employed in the financial sector and you are interested in immigrating to Canada contact your immigration consultant who will discuss your options and requirements.
Source: Canada Immigration News