In late 2010, the World Economic Forum named Canada’s banking system the world’s soundest. This was the third year in a row that the Canadian banking system ranked number one in the World Economic Forum.*
Around the same time, Global Finance magazine ranked Royal Bank of Canada at number 10 among the world’s safest banks and Toronto-Dominion Bank at number 15.**
Why are Canada’s banks considered to be some of the strongest in the world? The World Economic Forum report lists several reasons:
- They are well-capitalized, having more cash on-hand than most similar institutions in the developed world.
- They are well-regulated. Canadian banks are forced to adhere to stricter rules than those that govern most other banking systems, including those in the United States.
- They are well-managed. Canadian bank managers are less prone to risk-taking than their counterparts in the U.S. and Europe, taking a very conservative approach with their investor’s funds.
As a result of these factors, Canada’s banks were able to weather the 2008-09 world financial crisis much easier than most other institutions. Canada also endured the Great Recession with far greater ease than most other countries.
Would You Like to be Part of the World’s Soundest Banking System?
Because of its success, Canada’s banking and financial industry may likely attract many young people looking for exciting and rewarding careers. One way to prepare for such a career is through the Banking and Financial Services career education program offered at the Scarborough campus of Everest College of Business, Technology and Health Care.
The intensive seven-month program provides students with the skills and knowledge necessary to qualify for employment with Canadian banks or financial services companies in a variety of entry-level positions.
A Wide-Ranging Curriculum
Everest’s Banking and Financial Services program helps prepare students for real-life responsibilities by providing education in relevant computer applications and customer service skills. Courses include:
- Introduction to Computers
- Windows Fundamentals
- Microsoft Word
- Microsoft Excel
- Customer Service Representative (Parts 1 & 2)
- Foreign Exchange
- Consumer and Mortgage Credit
- Investments
- Mutual Funds
The mutual funds course includes the Canadian Investment Funds Course (CIFC) from the Investment Funds Institute of Canada (IFIC). Once employed by a registered company (such as a bank), graduates are eligible to apply the provincial Securities Commission for a mutual fund license.
About the Scarborough Campus
Everest’s Scarborough campus is at 2425 Eglinton Avenue East in Scarborough, Ontario M1K 5G8. The campus is convenient to many area day care centres, restaurants and shopping. Class schedules are flexible to meet the needs of working adults and students with family obligations. Financial assistance may be available for those who qualify.
Contact Everest for More Information
Interested in preparing for a career in banking and financial services? Then look into the Banking and Financial Services program offered at Everest College’s Scarborough campus today.
* Source: http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf.
** Source: http://business.rediff.com/slide-show/2010/oct/04/slide-show-1-worlds-20-safest-banks.htm
