Banking, insurance and other financial clerks (NOC 1434)

Bank clerks:

• compile records of deposits, withdrawals, loan and mortgage payments, cheques and purchases
• process loan and mortgage applications and payments; retirement savings plan applications; term deposits; and draft and money orders
• check and balance automatic teller machine transactions, calculate interest payments, and notify customers regarding account discrepancies and stolen bank cards
• answer questions and provide information on banking products, policies and services
• sell drafts; money orders; traveller's cheques and foreign currency; rent safety deposit boxes; and open and close savings, chequing and other types of accounts

Insurance clerks:

• process enrolments, cancellations, claims transactions, policy changes and premium payments
• review insurance applications and check insurance coverage, premiums paid and other insurance information
• calculate insurance premiums, pension benefits and annuity payments
• compile and maintain claims data, rates and insurance data and records
• answer questions and provide information on insurance products, policies and services

Other financial clerks:

• compile and maintain rental, sale and other real estate listings
• compile and maintain stock, bond and other securities listings
• answer questions and reply to correspondence
• sort, check and process real estate, securities and other financial transactions

Banking, insurance and other financial clerks typically work in banks and offices. While these individuals generally work regular daytime hours, some banks and insurance offices are open in the evenings.

Work involves long periods either sitting or standing in a small space, answering customer questions and using a computer. Extended time using a computer may cause muscle strain, eye strain and occasional headaches

Workers in this occupation conduct their work in a fast paced, ever-changing environment in which tasks need to be completed quickly and accurately either in-person or over the telephone. They process a high volume of customer requests and must provide excellent customer service, with great attention to detail.

Education, training & qualifications

• workers must have a high school diploma or equivalent
• experience (1-5 years) working in financial services (fast-paced customer service oriented environments) is often expected
• on-the-job training and short-term training courses or programs specific to the financial establishment are provided by the company
• while not always required, a business college diploma or university degree (in finance or something similar) may be preferred
• strong computer skills, including the ability to type, as well as retail and cash handling experience are expected
• while workers are not regulated in B.C., insurance clerks who hold the appropriate insurance license may have an advantage
• workers must be bondable, have basic security clearance, a confidential security clearance, as well as a criminal record check and high credit score

Skills

• Clerical Ability
• Numerical Ability
• Detail-Oriented
• Finger Dexterity

View skills definitions

Education programs in B.C.

The following program areas are related to this occupation:

For more information about programs offered specifically for this career, visit EducationPlannerBC.