14201 Banking, insurance and other financial clerks

What this occupation covers

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.

Official main duties

The NOC profile lists 14 main duties for this code.

• 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.
• 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.
• 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.

Do not copy these lines into your reference letter. The letter has to describe what you actually did, in your employer’s words. DUTYPROOF flags wording lifted from the NOC as something to review, and an officer reading a letter that mirrors the NOC reads it the same way.

What DUTYPROOF screens for

This is DUTYPROOF’s screening threshold, not IRCC’s decision. For this NOC, screening requires at least 3 of its 14 official duties to be evidenced in your own words, plus the required letter elements. IRCC asks that you performed the actions in the occupation’s lead statement and a substantial number of its main duties — so treat the duty coverage as the number that matters, not the badge.

Codes this one is confused with

The NOC profile names these itself. Choosing the wrong code of a look-alike pair is the most common way genuine work experience fails to establish eligibility.

• 12200 Accounting technicians and bookkeepers
• 64400 Customer services representatives - financial institutions
• 12011 Supervisors, finance and insurance office workers

Excluded from this code

• Accounting technicians and bookkeepers (See 12200 Accounting technicians and bookkeepers)
• Customer services representatives - financial institutions (See 64400 Customer services representatives - financial institutions)
• Supervisors, finance and insurance office workers (See 12011 Supervisors, finance and insurance office workers)

Job titles filed under this code

A title on this list does not by itself put your experience in this code — the duties in your letter decide that.

accounts clerk - financial sector · accounts representative - financial sector · actuarial clerk · application reviewer - insurance · automatic teller machine (ATM) clerk · bank clerk · benefits and entitlement clerk - insurance · brokerage clerk · calculation clerk - insurance · claims clerk - insurance · clerk - financial sector · contract clerk - financial sector · control clerk - financial sector · credit application clerk - financial sector · credit assessment clerk · credit authorization clerk · credit clerk · credit register clerk · death benefits clerk · dental claims clerk · disability benefits clerk - insurance · discount clerk - financial sector · dividend calculation clerk · dividend calculation clerk - financial sector

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.