Bachelor of Commerce - Financial Services Management Degree
|Duration:||8 Semesters (4 Years)|
|Start Dates:||Fall, Winter, |
Start dates are subject to change
|Credential Awarded:||Bachelor of Commerce|
This degree program provides you with specialized skills for the banking and insurance sectors. Developed with input from experts in these areas, it focuses your studies on all aspects of financial services and provides you with a co–op work–term which allows you to gain valuable experience on the job at a major financial institution or insurance company.
There is an additional cost for certification courses that are included as part of the FSM program curriculum.
Program Learning Outcomes:
As a graduate, you will be prepared to reliably demonstrate the ability to:
- Demonstrate effective critical thinking and problem solving process skills: as a team member, in communication with customers, and in an employment setting.
- Apply current workplace technology, including accounting software, communication software, Internet, contact centre equipment and software, web‐based learning tools, and research databases.
- Demonstrate effective interpersonal and team skills, including listening and questioning skills, fulfillment of commitments, decision making, demonstrating respect for views and perspectives of others, contributing creativity and innovation to team decision making and creativity, appropriate non‐verbal communication and presentation, and conflict resolution.
- Demonstrate professional level written communication abilities through preparation of reports, proposals and case studies, using correct grammar, punctuation, spelling and sentence mechanics.
- Demonstrate effective oral communication skills, including presenting ideas in a team environment, making presentations to groups, making presentations to managers/employers, interviewing skills, and organized presentation of information.
- Demonstrate research skills to evaluate performance of financial products, investigate regulations and acts, gather information for planning purposes, and determine product availability.
- Plan and act within applicable laws and regulations, including maintaining currency in the changing legal and regulatory environment at federal and provincial levels, basic contract law, civil law, privacy laws, and charter law.
- Accurately assess financial services investment products, including mutual funds, securities, and government investment products.
- Apply knowledge of insurance products, including life insurance, disability insurance, group insurance, annuities, critical illness insurance, accident and sickness insurance, long term care insurance, and business continuation insurance.
- Assess client needs including retirement planning, estate building, wealth creation, risk and service.
- Synthesize information to prepare accurate and effective plans for investment, retirement, insurance and estate management.
- Demonstrate thorough knowledge of marketing in insurance and financial services industries by identifying target markets, developing contact management strategies, assessing client needs, comparing niche products, and differentiating distribution methods.
- Illustrate knowledge of organization structure and management functions, including strategic business planning, administrative processes, agent functions, finance, accounting, marketing, distribution methods, e‐business, information systems, and human resources.
- Employ financial mathematics skills and concepts to prepare risk assessments, evaluate financial products, develop investment, insurance, retirement and estate plans, and conduct agent responsibilities.
- Practice lifelong learning skills through self‐directed learning, team learning, web‐based learning, and career planning.
- Apply customer service concepts: in planning customer contact, in conducting the underwriting process, in processing insurance claims, in educating customers, in conducting client assessments, and in presenting recommendations.
- Understand the function of insurance and banking within the Canadian economy, including risk management and economic contribution.
- Accurately assess investment products provided by insurance companies, including guaranteed investment certificates, annuities, and segregated funds/individual variable insurance contracts.
- Apply knowledge of taxation and financial products to educate clients and recommend financial strategies.
- Acquire knowledge, understanding and appreciation of various topics/subjects/genres/ of a traditional liberal arts education
Essential Employability Skills:
Graduates of this program are also expected to demonstrate the essential employability skills learning outcomes as outlined on the Ministry of Training, College and Universities website.
- Ontario Secondary School Diploma with a majority of senior credits at the University Preparation (U) or University/College Preparation (M) level or Mature Student Status (age 19 or older)
- Six Grade 12 (U) or (M) courses with a minimum 65% average including:
- Grade 12 English: ENG4(U)
- Grade 12 Mathematics: any (U) level Mathematics
- Mature students (age 19 years or older) must submit proof of credits in the above courses or their equivalent.
- Applicant grades in pre–requisite courses and the overall academic average of 6 Grade 12 (U) or (M) courses will be used for the selection of candidates.
FSM students must successfully complete BAB110 and BAB140 within their first two semesters of study to continue in the program.
In accordance with PEQAB requirements, this program has a minimal overall acceptable achievement for progression.
Scholarship opportunities are available for candidates with distinguished academic records in their high school careers. A variety of scholarships and bursaries are available to students based on merit and financial needs.
The Importance of Learning Skills:
Student success in college requires well developed learning skills (such as being able to work independently, participate in a team, be well–organized, develop good work habits, and show initiative). These skills are as important as prior academic achievement. While it is expected that applicants would have developed these skills through previous education and life experiences, Seneca offers support to assist students with further development of these important skills. Seminars, workshops and tutoring are available at Seneca's Learning Centres.
More than 223,000 people work in Toronto region's financial services sector making it the third largest concentration of financial services employment in North America, after New York and Chicago. More than 75 per cent of the financial services sector's employees hold post–secondary credentials which is considerably higher than the regional average (Source: the Toronto Financial Services Alliance).
The Financial Services Management degree prepares you for more designations and certifications than any other college financial services program.
As a graduate with an FSM degree, you’ll be prepared to enter the rapidly growing financial services sector which includes banking, insurance, wealth management, financial planning and regulatory administration.
You’ll have the opportunity to earn credits toward three industry designations:
- PFP (Personal Financial Planner) granted by CSI (Canadian Securities Institute). Graduates will reach the halfway point of this designation and be eligible to receive the CFSA – Certificate in Financial Services Advice.
- CFP (Certified Financial Planner) granted by FPSC (Financial Planning Standards Council). Graduates will be eligible to challenge the Financial Planning Examination 1 (FPE1).
- FLMI (Fellow, Life Management Institute) granted by LOMA (Life Office Management Association).
You’ll also have the opportunity to earn the following industry licenses/credits:
- CSC – Canadian Securities Course (mutual fund and securities licensing)
- CPH – Conduct and Practices Handbook (licensing course)
- IFC – Investment Funds in Canada (mutual fund license)
- LLQP – Life License Qualification Program (insurance license)
Consideration may be given for block transfer credits to students who have completed three or more semesters of a business diploma program.
Liberal Studies Electives
Liberal studies electives will be offered to students in semesters 3 to 7.
The co–op work–term provides the learner with the opportunity to become involved in real–life work experiences where critical thinking, problem–solving and interpersonal skills are utilized. The work–term is scheduled over the summer semester between semesters 6 and 7.
For more information, please visit: www.senecacollege.ca/coop.
|Co-op Work Term Model|
|Year 1||Semester 1||Semester 2||Vacation|
|Year 1||------||Semester 1||Semester 2|
|Year 2||Semester 3||Semester 4||Vacation|
|Year 3||Semester 5||Semester 6||Paid Co-op Term|
|Year 4||Semester 7||Semester 8||Graduation|
CGA Ontario Learning Centre
Grow your accounting and finance skill set in a space dedicated to supporting and engaging Seneca students, whether at the introductory or advanced levels of their accounting studies. Academic support is offered in partnership with the Certified General Accountants of Ontario. Located in the Newnham Campus Learning Centre.
|Semester 1||Course Name||Hrs/Wk|
|BAB100||Introduction to Canadian Business||3|
|BAB120||Computer Applications for Business I||3|
|BAB140||Introduction to Financial Accounting||4|
|Semester 2||Course Name||Hrs/Wk|
|BAB231||Introduction to Business Law||3|
|BAB235||Introduction to Marketing||3|
|ENG205||Applied Communication for Business and Industry||4|
|BAB220||Computer Applications for Business II||3|
|Semester 3||Course Name||Hrs/Wk|
|FSM200||Financial Services Products||4|
|FSM341||Mortgage Financing and Consumer Credit||3|
|LSP240||Micro Economics - Theory and Practice||3|
|LSOXXX||Liberal Studies Elective||3|
|Semester 4||Course Name||Hrs/Wk|
|FSM410||Personal Financial Planning: Investment and Taxation||4|
|FSM420||Consumer Protection and Privacy||3|
|FSM440||Customer Service and Relationship Management||3|
|LSP340||Macroeconomics - Theory and Practice||3|
|LSOXXX||Liberal Studies Elective||3|
|Semester 5||Course Name||Hrs/Wk|
|CPP600||Co-op Professional Practice||2|
|FSM430||Economics in the Insurance and Banking Environment||4|
|FSM510||Personal Financial Planning: Funds in Canada||4|
|FSM520||The Business and Regulation of Financial Services||4|
|LSP500||Ethics and Social Responsibility||3|
|Semester 6||Course Name||Hrs/Wk|
|FSM611||Financial Planning: Insurance, Retirement and Estates||4|
|FSM620||E-Business Opportunities in the Financial Industry||3|
|LSOXXX||Liberal Studies Elective||3|
|Semester 7||Course Name||Hrs/Wk|
|CPP700||Co-op Integration and Career Planning||1|
|FSM700||Management Principles and Practices||4|
|FSM710||Investment Strategies 1||4|
|LSP700||Applied Research Methodology||3|
|LSOXXX||Liberal Studies Elective||3|
|Semester 8||Course Name||Hrs/Wk|
|FSM800||Managing for Solvency and Profitability||4|
|FSM810||Investment Strategies 2||4|
|FSM830||Personal Financial Planning Management||3|
|FSM840||Conduct and Practices for Investment Advisors||1|
|FSM850||Financial Services Contact Centre Management||3|
|LSP800||Applied Research Project||3|
Seneca has been granted a consent by the Minister of Training, Colleges and Universities to offer this degree for a 5-year term starting December 31, 2007. In conformity with the Minister’s criteria and requirements, Seneca will submit an application for the renewal of the consent for this program 12 months prior to the expiration of the consent. Seneca shall ensure that all students admitted to the above-named program during the period of consent will have the opportunity to complete the program within a reasonable time frame.
|Domestic Admissions Advisor:||Judy Chung
Telephone: (416) 491-5050 Ext. 22127
|International Admissions Advisor:||Susan Gao
Telephone: (416) 491-5050 Ext. 22365
|Registration & Records Advisor:|
|Registration & Records Advisor:||Lisa Dalla-Zuanna
Telephone: (416) 491-5050 Ext. 26199
|Student Advisor:||Pana Mitusev
Telephone: (416) 491-5050 Ext. 26216
|Program Coordinator:||David Hoffman
Telephone: (416) 491-5050 Ext. 26353
|Co-op Coordinator:||Robert Botten
Telephone: (416) 491-5050 Ext. 26292
|Associate Chair:||Jeff McCarthy
Telephone: (416) 491-5050 Ext. 26722
|Program Chair:||Karen Murkar
Telephone: (416) 491-5050 Ext. 22337
Barbara, a graduate of Seneca's Financial Services Management Bachelor of Commerce program, talks about leaving university to come to Seneca and her time at the College and how it launched her career in financial services. Video
"As the war for top talent continues to heat up in Canada, it is essential for institutions like Seneca to be innovative in the programs they design and selective in the students they graduate. This program combines the critical foundational knowledge of the financial services industry with the practical designations that position their graduates with the tools they need to make an immediate impact in the business world. Bright, motivated and work–ready students are exactly what a top financial services institution like Sun Life Financial is looking for in this intensely competitive marketplace. Forward–thinking, applied business degrees like this will service the industry and graduating students well, now and into the future. This is a great program."
Senior Vice–President, Business Development
Individual Insurance and Investments
Sun Life Financial Canada
"Ontario's economy and our personal financial well–being depend on a successful financial services sector. As international competition grows among global centres, the quality of our people will determine if we succeed. Schools like Seneca's Centre for Financial Services, with programs specifically tailored to the needs of our financial community, will be part of that success story. Degrees like the four–year Financial Service Management program provide a good gateway to a successful sector career."
President, Toronto Financial Services Alliance
Strategic Advisor, Centre for Financial Services,
Faculty of Business, Seneca College