| Program Code: FSM | Campus: Newnham |
| Duration: 8 Semesters (4 Years) | Start Dates: Fall, Winter Start dates are subject to change |
| Credential Awarded: Bachelor of Applied Business | |
This degree program was created to address the need for degree-level graduates with specialized skills for the banking and insurance sectors. Developed with input from experts in these areas, it will focus on all aspects of financial services. This eight semester program also includes a mandatory co-op semester, which will allow students an opportunity to work for a major financial institution or insurance company.
Program Eligibility:
Applicant Selection:
For all applied degree programs, the minimum requirement for promotion and graduation is an average of C+ (2.5) in subjects in the main field of study (professional subjects), and an average of C (2.0) in all other subjects.
FSM students must successfully complete BAB110 and BAB140 within their first two semesters of study to continue in the program.
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 merits/financial needs.
Graduates from this program will have completed most courses leading to two professional designations: the Associate, Institute of Canadian Bankers designation offered by CSI and the FLMI designation from the Life Office Management Association (LOMA). They will also be eligible to write the Certified Financial Planner (CFP) Professional Competence Examination 1 (ACE1). In addition, graduates can earn credits leading to certification in the Canadian securities industry. There is an additional cost for certification courses included in the program. Graduates will be prepared to work in entry-level management positions in the rapidly growing financial services sector such as in banking, life insurance, wealth management, financial planning, and regulatory administration.
Seneca College has been granted a consent by the Minister of Training, Colleges and Universities to offer this applied degree for a five-year term . Seneca will 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 .
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 will be offered to students in semesters 3 to 8.
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.
| Co-op Work Term Model | |||
| Fall | Winter | Summer | |
| Year 1 | Semester 1 | Semester 2 | Vacation |
| OR | |||
| 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 |
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.
| Semester 1 | Subject Name | Hrs/Wk |
|---|---|---|
| BAB100 | Introduction to Canadian Business | 3 |
| BAB110 | Financial Mathematics | 4 |
| BAB120 | Computer Applications for Business I | 4 |
| BAB140 | Introduction to Financial Accounting | 4 |
| BAB150 | Career Foundation Skills | 3 |
| ENG106 | Writing Strategies | 3 |
| Semester 2 | Subject Name | Hrs/Wk |
| BAB210 | Business Statistics | 4 |
| BAB230 | Introduction to Business Law | 4 |
| BAB235 | Introduction to Marketing | 3 |
| BAB240 | Management Accounting | 4 |
| ENG205 | Applied Communication for Business and Industry | 4 |
| FSM200 | Financial Services Products | 4 |
| Semester 3 | Subject Name | Hrs/Wk |
| FSM305 | Insurance Operations | 4 |
| FSM330 | Insurance Law in Canada | 4 |
| FSM341 | Mortgage Financing and Consumer Credit | 3 |
| LSP240 | Micro Economics - Theory and Practice | 3 |
| LSP300 | Organizational Behaviour | 3 |
| LSOXXX | Liberal Studies Elective | 3 |
| Semester 4 | Subject Name | Hrs/Wk |
| FSM400 | Accounting and Financial Reporting for Insurance | 4 |
| FSM410 | Personal Financial Planning: Investment and Taxation | 4 |
| FSM420 | Consumer Protection and Privacy | 3 |
| FSM440 | Customer Service and Relationship Management | 4 |
| LSP340 | Macroeconomics - Theory and Practice | 3 |
| LSOXXX | Liberal Studies Elective | 3 |
| Semester 5 | Subject 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 |
| FSM540 | Business Finance | 4 |
| LSP500 | Ethics and Social Responsibility | 3 |
| Semester 6 | Subject Name | Hrs/Wk |
| FSM600 | Marketing Insurance | 4 |
| FSM611 | Financial Planning: Insurance, Retirement and Estates | 4 |
| FSM620 | E-Business Opportunities in the Financial Industry | 3 |
| FSM640 | Life Agency | 4 |
| LSP400 | Presentation Skills | 3 |
| LSOXXX | Liberal Studies Elective | 3 |
| Semester 7 | Subject Name | Hrs/Wk |
| BAB905 | Project Management | 4 |
| FSM700 | Management Principles and Practices | 4 |
| FSM705 | Insurance Administration | 4 |
| FSM710 | Investment Strategies 1 | 4 |
| LSP700 | Applied Research Methodology | 3 |
| CPP700 | Co-op Integration and Career Planning | 1 |
| LSOXXX | Liberal Studies Elective | 3 |
| Semester 8 | Subject 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 | 4 |
| LSP800 | Applied Research Project | 4 |
| Student Advisor: | Naomi Herman Telephone: (416) 491-5050 Ext. 6864 Email: naomi.herman@senecac.on.ca |
| Program Coordinator: | David Hoffman Telephone: (416) 491-5050 Ext. 6353 Email: david.hoffman@senecac.on.ca |
| Co-op Coordinator: | Robert Botten Telephone: (416) 491-5050 Ext. 6292 Email: robert.botten@senecac.on.ca |
| Associate Chair: | Jeff McCarthy Telephone: (416) 491-5050 Ext. 6722 Email: jeff.mccarthy@senecac.on.ca |
| Program Chair: | Karen Murkar Telephone: (416) 491-5050 Ext. 2337 Email: karen.murkar@senecac.on.ca |
| Admissions Advisor: | Angela Li Telephone: (416) 491-5050 Ext. 2036 Email: angela.li@senecac.on.ca |
| Registration & Records Advisor: | Barbara Byers Telephone: (416) 491-5050 Ext. 2495 Email: barbara.byers@senecac.on.ca |
"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."
Vicken Kazazian
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 fouryear Financial Service Management program provide a good gateway to a successful sector career."
Janet Ecker
President, Toronto Financial Services Alliance
Strategic Advisor, Centre for Financial Services
Faculty of Business, Seneca College
Seneca College of Applied Arts and Technology