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OSP Occupational Profile

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NOC Code: NOC Code: 1434 Occupation: Banking, insurance and other financial clerks
Occupation Description: Occupation 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. 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.

  • Click on any of the Essential Skills to view sample workplace tasks for this occupation.
  • Scroll down the page to get information on career planning, education and training, and employment and volunteer opportunities.

Table will display the Skill Level for the Noc specified
Essential Skills Essential Skills Levels
Reading Reading 1 2 3
Writing Writing 1 2 3
Document Use Document Use 1 2 3
Digital Technology Digital Technology 1 2 3
Oral Communication Oral Communication 1 2 3
Money Math Money Math 1 2 3
Scheduling or Budgeting and Accounting Scheduling or Budgeting and Accounting 1 2 3
Measurement and Calculation Measurement and Calculation 1 2
Data Analysis Data Analysis 1 2
Numerical Estimation Numerical Estimation 1 2
Job Task Planning and Organizing Job Task Planning and Organizing 1 2 3
Decision Making Decision Making 1 2 3
Problem Solving Problem Solving 1 2
Finding Information Finding Information 1 2 3
Critical Thinking Critical Thinking 1 2

  • The skill levels represented in the above chart illustrate the full range of sample tasks performed by experienced workers and not individuals preparing for or entering this occupation for the first time.
  • Note that some occupational profiles do not include all Numeracy and Thinking Essential Skills.

If you would like to print a copy of the chart and sample tasks, click on the "Print Occupational Profile" button at the top of the page.

  • Read short text entries on forms, e.g. read short comments on invoices accompanying letters to learn about payments. (1)
  • Read short notes from co-workers, e.g. read notes from co-workers to learn about upcoming meetings. (1)
  • Read email messages, memos and bulletins, e.g. read memos and bulletins to learn about policy changes and recent criminal activities related to bank fraud. (2)
  • Read computer instruction manuals, e.g. read software manuals and help files to learn how to operate new accounting software. (3)
  • Read e-bulletins, newsletters and compliance instructions from government organizations, such as Revenue Canada, to stay up-to-date on rules and regulations. (3)
  • Read applications for financial services, e.g. read Registered Retirement Savings Plans to learn about their terms and conditions and how to complete applications. (3)
  • Read sequenced procedures and instructions, e.g. read procedure manuals to learn about security measures when handling money and sequenced instructions to learn how to respond to attempted robberies. (3)
  • Read a variety of policy and procedure manuals, e.g. read manuals to learn about privacy protection, banking policies and insurance plans. (3)
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  • Write reminders and short notes to co-workers, e.g. write notes to co-workers to inform them about upcoming appointments with customers. (1)
  • Write comments in the remarks sections of forms, e.g. bank clerks write short comments on loan applications to outline special considerations. (1)
  • Write letters, e.g. write letters to credit bureaus to correct credit history errors and to brokers requesting information on insurance charges and premiums. (2)
  • Write short reports, e.g. write short reports to explain the corrections made to loan documents after examination by inspectors. (2)
  • Write notes to document customer requests and required changes to insurance policies. (2)
  • Write short email messages, e.g. insurance clerks write email messages to brokers requesting information on insurance charges and premiums. (2)
  • Write longer letters, e.g. insurance clerks write detailed letters to customers to provide quotations and explain the terms of insurance coverage. (3)
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Document Use
  • Locate data, such as names, dates and codes, on file tabs. (1)
  • Enter data into a variety of forms, e.g. enter data, such as names, dates, times, dollar values and account numbers, into forms used for deposits, withdrawals, Registered Retirement Savings Plans and insurance applications. (2)
  • Locate data in a variety of lists and tables, e.g. locate dates, rates and values on foreign exchange rate tables. (2)
  • Review pie or bar charts to understand the performance of investments over time. (2)
  • Scan complex tables and schedules, e.g. locate dates, values and rates on promotional material for investments. (3)
  • Complete complex forms, e.g. fill out detailed forms to complete insurance applications. (3)
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Digital Technology
  • Use office equipment, such as printers, scanners, fax machines, copiers, binding machines and postage meters, to perform clerical tasks. (1)
  • Use bookkeeping, billing and accounting software to record financial transactions. (1)
  • Use calculators and personal digital assistant (PDA) devices to complete numeracy-related tasks, such as summing figures and calculating interest charges. (1)
  • Use databases to retrieve up-to-date rates for investments and loans. (1)
  • Use video-conferencing hardware and software to meet with customers and co-workers online. (2)
  • Use the Internet to access training courses and seminars offered by suppliers, employers and trainers. (2)
  • Use specialized software programs to input and track changes to customers' insurance policies and investments. (2)
  • Use browsers and search engines to locate product information from suppliers, such as the cost of insurance. (2)
  • Use browsers to access the Canada Revenue Agency website in order to source a variety of forms, schedules and guides. (2)
  • Use intranets and email applications to exchange information and documents with co-workers, customers and brokers. (2)
  • Use bookkeeping, billing and accounting software to generate financial statements. (2)
  • Use basic features of word processing programs to write letters and document the outcome of conversations with customers. (2)
  • Use databases to enter and retrieve customer information, such as listings of accounts, loans and insurance policies. (2)
  • Use spreadsheets to track expenditures, such as costs for office supplies. (2)
  • Use advanced word processing features to create proposals that outline insurance coverage and pricing options. (3)
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Oral Communication
  • Leave and listen to messages, e.g. leave voicemail messages with customers to request information, such as mailing addresses, and set up appointments. (1)
  • Participate during staff meetings, e.g. discuss products, objectives and service improvement strategies during staff meetings. (2)
  • Talk to benefit administrators and representatives of insurance companies, car repair shops and notaries to process claims. (2)
  • Talk to customers to provide services relating to matters, such as banking and insurance products, ensuring you communicate legal and technical terms in clear language. (2)
  • Exchange information with co-workers, e.g. speak with supervisors to obtain approvals and discuss customer accounts. (2)
  • Provide detailed descriptions, e.g. provide highly detailed descriptions to police and other security personnel about the events that took place during a robbery. (3)
  • Speak with difficult and demanding customers, e.g. be polite, tactful and firm when dealing with customers who become frustrated or angry. (3)
  • Provide detailed information to customers under demanding circumstances, e.g. speak with recently widowed spouses about the terms and conditions of insurance policies. (3)
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Money Math
  • Receive payments in the form of cheques, transfers and money orders. (1)
  • Calculate interest on loans and investments, using applicable rates. (2)
  • Prepare quotations for customers including calculation of applicable fees, discounts, currency exchange rates and taxes. (3)
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Scheduling or Budgeting and Accounting
  • Record amounts payable and receivable against various accounts in general ledgers. (1)
  • Prepare financial summaries, such as summaries showing mortgage tax arrears. (2)
  • Compare transactions to financial postings to identify errors and reconcile accounts. (2)
  • Compare fee structures and investment options to determine the investments that best meet a customer's needs. (3)
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Measurement and Calculation
  • Calculate the area of houses or rooms to prepare home insurance quotations. (2)
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Data Analysis
  • Compare withdrawal amounts to the money available in bank accounts. (1)
  • Prepare statistics comparing the number of clients who renewed their policies for another year to the number who did not renew, in order to develop marketing plans. (2)
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Numerical Estimation
  • Estimate the amount of time it will take to enter data into the computer. (1)
  • Estimate the value of investments at specified times prior to maturity to illustrate the advantages of compound interest to customers. (1)
  • Estimate the size and value of a property and its contents. (2)
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Job Task Planning and Organizing
  • Banking, insurance and other financial clerks complete a variety of job tasks. Their work is highly customer driven. Although supervisors may provide some planning guidance, banking, insurance and other financial clerks generally establish their own priorities and decide how and when to complete their tasks. Their work plans are frequently disrupted by customers who require service in person or by phone but no new work plan is required. (3)
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Decision Making
  • Decide order of tasks and your priorities, e.g. decide the order in which to process customer inquiries. (1)
  • Decide whether to give loans or insurance policies to customers, e.g. bank clerks consider credit ratings, loan amounts and lending policies to determine if applicants are eligible for a loan. (3)
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Problem Solving
  • Encounter angry and dissatisfied customers. Weigh the need for customer satisfaction with the account history to arrive at a solution that is acceptable to both parties. (2)
  • Encounter clients who have missed the deadline for a loan payment. Forward a certified letter to the client requesting payment and, if the client does not take corrective action, the loan may be called in. (2)
  • Find that financial records are inaccurate, incomplete or missing. Trace all related paperwork to identify the cause of the problem and make the appropriate adjustments as needed. (2)
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Finding Information
  • Obtain information on public programs, such as the Canada Pension Plan, by reading pamphlets, information circulars and speaking with officials in various government departments. (2)
  • Find information on loan policies and the performance of investment products by speaking with co-workers and reading brochures, manuals and annual reports. (2)
  • Locate information about customers by speaking with them and reading client files. (2)
  • Find the best insurance coverage for customers by speaking with them and insurance company representatives and reading manuals and brochures published by insurers. (3)
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Critical Thinking
  • Assess the accuracy and reasonableness of financial reports generated using accounting software. Compare data to previous reports and use your experience to identify potential errors. (2)
  • Evaluate the completeness of documentation. Compare documentation provided by customers to the requirements stipulated by insurers and financial institutions to determine the documentation's readiness for submission. (2)
  • Choose or recommend methods and procedures for handling delinquent accounts, e.g. determine whether loans should be called or insurance policies cancelled. Consider several factors to make appropriate choices. (2)
  • Evaluate the reasonableness of loan and insurance requests. Compare requests to industry standards to isolate potentially erroneous or fraudulent loans and insurance requests. (2)
  • Evaluate the suitability of administrative procedures. Consider a number of factors including speed of service and common bottlenecks. (2)
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