1434 Banking, insurance and other financial clerks

Category: Business, finance and administration occupations

Major Group 14 : Office support occupations

 

 

Banking, insurance and other financial clerks compile, process and maintain banking, insurance and other financial information. They are employed by banks, credit companies, private and public insurance establishments, investment firms and other financial establishments throughout the private and public sectors.

Example Titles

actuarial clerk
bank clerk
credit clerk
dental claims clerk
dividend calculation clerk
insurance clerk – financial sector
insurance rater
ledger control clerk
loan clerk – financial sector
mortgage clerk
premium rater – insurance
real estate clerk
securities clerk – financial sector

View all titles

Main duties

Bank clerks perform some or all of the following duties:

• Compile records of deposits, withdrawals, loan and mortgage payments, cheques and purchase, sale and exchange of securities

• Process loan and mortgage applications, loan and mortgage payments, retirement savings plan applications, term deposits, drafts and money orders

• Verify and balance automatic teller machine transactions and ledger entries, calculate service charges and interest payments and notify customers regarding account discrepancies and captured bank cards

• Answer enquiries and provide information on banking products, policies and services

• May sell drafts, money orders, travellers’ cheques and foreign currency, rent safety deposit boxes and open and close savings, chequing and other accounts.

Insurance clerks perform some or all of the following duties:

• Process enrolments, cancellations, claims transactions, policy changes and premium payments

• Review insurance applications and verify 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 enquiries and provide information on insurance products, policies and services.

Other financial clerks in this unit group perform some or all of the following duties:

• Compile and maintain rental, sale and other real estate listings

• Compile and maintain stock, bond and other securities listings

• Sort, verify and process real estate, securities and other financial transactions

• Answer enquiries and reply to correspondence.

 

Employment requirements

• Completion of secondary school is required.

• A business college diploma may be required.

• On-the-job training and short-term training courses or programs specific to the financial establishment are usually required.

Additional information

• Progression to supervisory positions is possible with experience.

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