Banking, insurance and other financial clerks

Banking, insurance and other financial clerks

NOC
14201

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

Quick facts

3-Year Outlook

Moderate
Moderate

3-Year Job Openings

40
 

Median Hourly Wage

$23.84
$18.00
Low
$42.00
High

Average Salary

$48,600
 

Typically Required

High school / on-the-job training

Employed

478
 
Job details

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 Sex

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

    Data legend

    76.7%
    Female
    23.3%
    Male
    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
    Province of New Brunswick Economic Regions

    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
    Province of New Brunswick Economic Regions

    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.

    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.

    Northeast

    $24.88
    $18.95
    Low
    $32.08
    High

    Southeast

    $25.00
    $17.31
    Low
    $42.00
    High

    Southwest

    $23.84
    $18.00
    Low
    $42.00
    High

    Central

    $20.45
    $17.40
    Low
    $24.55
    High
    No Data Available
    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.

    New Brunswick

    $48,600

    Newfoundland

    $54,000

    Prince Edward Island

    $52,000

    Nova Scotia

    $48,800

    Canada

    $61,450
    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).

    Three Year Outlook

    Total Openings: 3-Year

    40
     

    New Jobs: 3-Year

    10
     

    Retirements/Deaths: 3-Year

    30
     

    Ten Year Outlook

    Total Openings: 10-Year

    165
     

    New Jobs: 10-Year

    52
     

    Retirements/Deaths: 10-Year

    112