How to become a banking, insurance and other financial clerk
Official title: Banking, insurance and other financial clerks
Also called: Bank clerk, Credit clerk, Realty clerk, Interest clerk, Mortgage clerk, Property clerk, Actuarial clerk, Brokerage clerk, Insurance rater, Real estate clerk, Dental claims clerk, Senior claims clerk
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 tasks
- 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
How to become one
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.
Pay · Outlook
- Median pay: $49,394 a year The middle half earn $41,828 to $58,500.
- About 28,200 people worked in this job in 2023, and about 29,300 are projected by 2033. (+3.9%)
- Projected labour market to 2033: balance.
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Questions people ask
How do I become a banking, insurance and other financial clerk?
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.
How much does a banking, insurance and other financial clerk earn in Canada?
Median full-time pay is $49,394 a year (Employment and Social Development Canada (Job Bank)). The middle half earn $41,828 to $58,500.
Is a banking, insurance and other financial clerk a growing career in Canada?
Yes. Employment is projected to grow 4% by 2033, from about 28,200 to about 29,300 people (Employment and Social Development Canada).
Do you need a degree to become a banking, insurance and other financial clerk?
Not always. 34% of people in this job hold a bachelor's degree or higher.
Sources
- Statistics Canada: Census 2021: employment by occupation, gender and education (98-10-0449) (2021 Census), Statistics Canada Open Licence, retrieved 2026-10-03
- Statistics Canada: National Occupational Classification (NOC) 2021 (Version 1.0), Open Government Licence - Canada, retrieved 2026-10-03
- Employment and Social Development Canada: Canadian Occupational Projection System (COPS) (2024 to 2033), Open Government Licence - Canada, retrieved 2026-10-03
- Employment and Social Development Canada (Job Bank): Wages by occupation (2025 (revised 2025-11-19)), Open Government Licence - Canada, retrieved 2026-10-03
Updated 2026-10-03