Financial Services

Key Industries

Winnipeg is one of North America's most cost-effective cities for financial services operations. Some of the biggest names in banking, leasing, insurance, securities, mutual funds and venture financing are headquartered here. Winnipeg’s central location, time zone and skilled labour force, make it an ideal location for financial services firms with clients around the world. Our cooler climate and affordable energy resources keep costs low for customers who use data centres such as Bell MTS. In addition, Winnipeg is a nearshore jurisdiction for backend services, administration and insurance.

If you have a focus on commerce, Winnipeg offers plenty of opportunities including:

Collaborative Business Environment
Low labour costs and Support Programs
Ready and Available Workforce
Diverse, Secure and Stable Economy

Education & Training

Network Security Program - Joint program between the University of Winnipeg and Manitoba Institute of Trades and Technologies
University of Manitoba - An Asper MBA will equip you with the knowledge, skills and experience needed to achieve personal and professional goals
University of Manitoba – The Warren Centre is one of the oldest and most successful Actuarial programs in North America. The centre’s graduates are highly sought after by companies such as Canada Life and Wawanesa
Charted Professional Accountants enjoy highly rewarding careers offering ample opportunities and advancement in public account, corporate world, government and not-for-profit entities

Winnipeg Success Stories

Telpay

First in Canada to develop electronic bill payments—eliminating the need for traditional paper cheques—Winnipeg-based Telpay was founded in 1985 and has since evolved into Canada’s biggest independent electronic bill payment company.

Payworks

Payworks has been headquartered in Winnipeg since its inception in 2001, with regional presences in 10 offices across Canada. Payworks provides workforce management solutions to more than 17,000 clients across Canada in all industries, currently has more than 200 employees and is growing.

Canada Life

For over 125 years Great-West Life, London Life and Canada Life have been trusted by Canadians for keeping their promises and helping Canadians reach their full potential. Canada Life Assurance Company, the newest brand created, will house all 3 divisions, continuing to deliver and communicate all their products and services. This transition to one brand will allow the company to combine their strengths to better deliver on their purpose – to improve the financial, physical and mental well-being of Canadians. The company also serves the financial security needs of more than a third of all Canadians and employs nearly 2,500 people in Winnipeg.

Wawanesa

Wawanesa Insurance is a Canadian mutual company owned by its policyholders. It is one of the largest property and casualty insurers in Canada and also operates in the United States. Wawanesa has a rich history dating back to September 25, 1896, when it was founded in the Village of Wawanesa, Manitoba. Today, executive offices are in Winnipeg, Manitoba, Canada.

RBC Royal Bank

Winnipeg is home to more than 600 financial service leaders and advisors at the RBC Inbound Contact Centre. The Winnipeg Site is one of five such centres in Canada. Winnipeg’s low operating costs and central time zone makes it the perfect choice to provide general banking, investment, business banking, credit and digital banking service and advice to RBC's Valued Clients.

Caisse Financial Group

Caisse Financial Group was Manitoba’s first credit union established in 1937, with 29 members and $97 in assets. Today, they have evolved into a full service, 1.6B dollar financial institution with over 35,000 members. Caisse is a bilingual financial co-operative that prioritizes its members experiences and invests in the well-being of the community.

Fast FactsSource: Great-West Lifeco Inc.'s Canada, US and Europe, Annual Report (2016), Statistics Canada (2017)

22,000+

Workers in Financial Industry
5,400+

Financial Services establishments in Winnipeg
Big 6

Banks with major operations in Winnipeg
CST

Central location and time zone

Public Sector Support

For more information on tax breaks and credits, visit our Incentives page.

Corporate Income Tax Break: No corporate tax (0%) on the first 500k of income
Scientific Research and Experimental Development Credit: Up to 50% reimbursement on eligible research and development activities with a best-in-country provincial top-up credit
Venture Capital Tax Credit: 45% non-refundable tax credit for new shareholders
The Manitoba Interactive Digital Media Tax Credit: Up to 40% of Manitoba salaries paid on eligible projects

Key Network

CPA Manitoba

Under The Chartered Professional Accountants Act of Manitoba, CPA Manitoba has the responsibility to regulate all matters including competency, professional conduct, discipline and the provision of professional services by its members, candidates, students, professional corporations and firms.

Insurance Brokers Association of Manitoba

The Insurance Brokers Association of Manitoba is an organization representing approximately 2,000 insurance brokers from all communities across our province. The Association’s efforts – to ensure that insurance brokers remain the primary provider of insurance services in Manitoba while speaking with a collective voice as the insurance authority in Manitoba and keeping consumer’s best interests in mind

Risk Management Association

Founded in 1914, The Risk Management Association (RMA) is a not-for-profit, member-driven professional association, whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk.