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Derek Farmer began their work experience in 2005 at PwC, where they held various roles including Associate in Audit & Assurance, Senior Associate in Audit & Assurance, and Manager. In 2014, they joined Connor, Clark & Lunn Financial Group (CC&L) as Controller in Real Estate. Derek later became the Principal and Chief Financial Officer in Real Estate in January 2021.

Derek Farmer attended the University of Toronto Scarborough from 2003 to 2007, where they earned a B.B.A. degree specializing in Accounting. Additionally, they pursued further education at the Institute of Chartered Accountants of Ontario (ICAO) to obtain a CA qualification in Accounting. The exact duration of their studies at ICAO is not provided.