Overview
Outlook
Data
Training
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.
Job Titles
- Bank clerk
- Brokerage clerk
- Credit assessment clerk
- Credit clerk
- Interest clerk
- Mortgage clerk
- Personal credit lines clerk
Main 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.
Workplaces
- Banks
- Credit companies
Skills
- Near Vision
- Mathematical Reasoning
- Memorizing
- Numerical Ability
- Perceptual Speed
Abilities
- Near Vision
- Mathematical Reasoning
- Memorizing
- Numerical Ability
- Perceptual Speed
Personal Attributes
- Attention to Detail
- Adaptability
- Analytical Thinking
- Collaboration
- Concern for Others
Similar Occupations
- Supervisors, finance and insurance office workers (12011)
- Accounting technicians and bookkeepers (12200)
- Customer services representatives – financial institutions (64400)
Source: OaSIS
Employment Outlook
The employment outlook will be Moderate for banking, insurance and other financial clerks (NOC 14201) in Prince Edward Island for the 2025-2027 period.
The following factors contributed to this outlook:
Here are some key facts about Banking, insurance and other financial clerks in Prince Edward Island:
- Approximately 50 people worked in this occupation in May 2021.
- Banking, insurance and other financial clerks mainly work in the following sectors:
- Real Estate and rental and leasing (NAICS 53): 39%
- Insurance Carriers and related activities (NAICS 524, 526): 37%
- Federal government public administration (NAICS 911): 11%
- Monetary Authorities – central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 8%
- Other professional, scientific and technical services (NAICS 5414, 5416-5419): 5%
- 77% of banking, insurance and other financial clerks work all year, while 23% work only part of the year, compared to 59% and 41% respectively among all occupations. Those who worked only part of the year did so for an average of 44 weeks compared to 41 weeks for all occupations.
- The gender distribution of people in this occupation is:
- Men: less than 5% compared to 51% for all occupations
- Women: more than 95% compared to 49% for all occupations
- The educational attainment of workers in this occupation is:
- no high school diploma: n/a
- high school diploma or equivalent: 15% compared to 28% for all occupations
- apprenticeship or trades certificate or diploma: 15% compared to 11% for all occupations
- college certificate or diploma or university certificate below bachelor’s: 38% compared to 25% for all occupations
- bachelor’s degree: 31% compared to 17% for all occupations
- university certificate, degree or diploma above bachelor level: n/a
Source: Job Bank
Prevailing Wages
| AREA | LOW | MEDIAN | HIGH |
|---|---|---|---|
| PEI | $20.51 | $27.48 | $35.00 |
| Canada | $18.46 | $25.33 | $36.62 |
Training
There are no known training programs for this occupation in PEI. If you are aware of a local training program, please contact us.
More Info
View the full occupational profile with details on work characteristics, interests, employment requirements and more on the Occupational and Skills Information System (OaSIS) website.
Related Jobs
There are currently no job listings for this occupation on WorkPEI.