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Customer services representatives - financial institutions (NOC 6551)

Table of contents
About this job Earnings and Outlook Duties Work environment Workforce and employment statistics
Job requirements Work-related skills Insights from industry Related careers Career paths and resources
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About this job

Customer service representatives in financial institutions handle customers’ financial transactions, including cashing cheques, completing money transfers and opening and closing accounts.

People in this occupation:

  • record data, produce receipts and provide information on related banking products and services
  • are employed by banks, trust companies, credit unions and similar financial institutions
Common job titles
  • agent, customer service
  • clerk, accounts information
  • clerk, adjustment
  • representative, current account
  • teller, bank / credit union / trust
  • teller, foreign exchange / head
  • agent, customer service
  • clerk, accounts information
  • clerk, adjustment
  • officer, customer service
  • representative, current account
  • teller, bank / credit union / trust

Earnings

Annual provincial median salary

$35,776

Source: 2018 Job Bank Wage data

Note:Estimated median employment income based on 2018 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))

Provincial hourly rate

  • High
  • Median
  • Low

Source: 2018 Job Bank Wage Report

B.C. Labour Market Outlook (2018-2028)

Provincial outlook

Forecasted average employment growth rate

  • 2018 - 2023
  • 2023 - 2028

Source: B.C. Labour Market Outlook

Job openings

10 year expected job openings: 3,240

  • 2018
  • 2023
  • 2028

Source: B.C. Labour Market Outlook

Composition of job openings

 
New jobs due to economic growth:
40.7%
1,320 openings
 
Replacement of retiring workers:
59.3%
1,920 openings

Source: B.C. Labour Market Outlook

Regional outlook

Select a region to view regional outlook
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
Cariboo
Employment in 2018:
250
Average annual employment growth:
0.8%
Expected number of job openings:
60
Kootenay
Employment in 2018:
240
Average annual employment growth:
0.3%
Expected number of job openings:
60
Mainland / Southwest
Employment in 2018:
6,100
Average annual employment growth:
1.4%
Expected number of job openings:
2,070
North Coast & Nechako
Employment in 2018:
140
Average annual employment growth:
1.1%
Expected number of job openings:
40
Northeast
Employment in 2018:
120
Average annual employment growth:
4.0%
Expected number of job openings:
80
Thompson-Okanagan
Employment in 2018:
1,100
Average annual employment growth:
1.2%
Expected number of job openings:
410
Vancouver Island / Coast
Employment in 2018:
1,400
Average annual employment growth:
1.2%
Expected number of job openings:
520

Source: B.C. Labour Market Outlook

Duties

Workers in this group perform some or all of the following duties:

  • Process customer cash deposits and withdrawals, cheques, transfers, bills and credit card payments, money orders, certified cheques and other related banking transactions
  • Obtain and process information required for the provision of services, such as opening accounts and savings plans and purchasing bonds
  • Sell travellers' cheques, foreign currency and money orders
  • Answer enquiries and resolve problems or discrepancies concerning customers' accounts
  • Inform customers of available banking products and services to address their needs.

Work environment

This a fast-paced environment in which workers process a high volume of customer requests and provide excellent customer service.

Customer service representatives in financial services must follow strict banking hours.

Workforce and employment statistics

Workforce characteristics

8,500 workers are employed
39% of workers are working mostly full time

Source: 2016 Census

Employment by gender

  Men
  Women

Source: 2016 Census

Employment by age group

  15 - 24 years
  25 - 44 years
  45 - 64 years
  65+ years

Source: 2016 Census

Labour force by industry

Finance, Insurance and Real Estate:
95%
Retail Trade:
1%
Professional, Scientific, and Technical Services:
1%
Public Administration:
1%
View more industry data

Source: 2016 Census

Employment by region

Select your region:
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
  % employment of this occupation
  % employment of all occupations
Cariboo
Kootenay
Mainland / Southwest
North Coast & Nechako
Northeast
Thompson-Okanagan
Vancouver Island / Coast

Source: 2016 Census

Insights from industry

It is becoming more common for banking institutions to hire co-op students, with the hope of hiring them full-time once they have completed their education.

Some banking institutions have begun creating different sectors within the bank, opening the possibility for individuals to specialize in a specific area in the future.

Career paths and resources

Career paths

Progression to supervisory/management or sales positions is possible with experience.

Additional resources

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Profile last updated:
January 18, 2018
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