Banking, insurance and other financial clerks

NOC

14201

compile, process and maintain banking, insurance and other financial information.

Full NOC Description

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.

Main Duties

This group performs some or all of the following duties:

Bank Clerks

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

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

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.

Also Known As

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

Requirements

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.

Provincial Regulation

Not Provincially Regulated

Employment by Gender

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

76.7%

Women

23.3%

Men

Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

5.5%

15-24

18.7%

25-34

38.5%

35-44

18.7%

45-54

16.5%

55-64

2.2%

65+

Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

0.0%

No Certificate, Diploma or Degree

33.0%

High School, Diploma or Equivalent

0.0%

Apprenticeship or Trades Certificate or Diploma

0.0%

College or University Below Bachelor Level

29.7%

University - Bachelor Level or Above

Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

65.9%

Finance and insurance

13.2%

Transportation and warehousing

13.2%

Public administration

7.7%

All Other Industries

Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

8.80%

Northeast

47.30%

Southeast

23.10%

Southwest

17.60%

Central

3.30%

Northwest

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Average Salary by Economic Regions

The following graph shows the average salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

$56,000

Northeast

$48,800

Southeast

$48,000

Southwest

$46,000

Central

N/A

Northwest

Economic Regions

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Salary

The following shows the average salary of everyone who worked full-time and year-round in this occupation across each of the Atlantic Provinces and nationally.

Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Occupational Profiles