14201

Banking, insurance and other financial clerks

TEER 4 — High-school diploma or several weeks of training

Express Entry skill level: No
Regulated in Québec: No
In demand in Manitoba: No

Classification

Business, finance & administration

1 › 14 › 142 › 1420

Definition

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.

Example job titles

•actuarial clerk
•bank clerk
•credit clerk
•dental claims clerk
•dividend calculation clerk
•insurance clerk - financial sector
•insurance rater
•ledger control clerk

Overview

Under the National Occupational Classification (NOC) 2021, NOC 14201 covers banking, insurance, and other financial clerks. Professionals in this unit group compile, verify, and process applications, transactions, insurance policies, and other financial documents. Typical job titles include bank clerk, insurance billing clerk, mortgage clerk, and credit clerk. They are employed by banks, trust companies, insurance firms, investment dealers, and other financial institutions across Canada to ensure the accurate processing of financial records and transactions.

Occupations under NOC 14201 fall into TEER Category 4, which generally requires a high school diploma, some college or business courses, or specialized on-the-job training. Daily duties involve reviewing applications for loans or insurance, calculating premiums or interest, processing transactions, and maintaining ledger accounts in accordance with established financial procedures. Precision, adherence to regulatory standards, and strong organizational skills are essential for individuals working in this occupation.

For Canadian immigration, since NOC 14201 is a TEER 4 occupation, foreign nationals may qualify for permanent residency through specific pathways. These include the Atlantic Immigration Program (AIP), various Provincial Nominee Program (PNP) streams tailored for semi-skilled workers, or specific regional pilots. Candidates must meet all requirements set by Immigration, Refugees and Citizenship Canada (IRCC), including language proficiency and valid work experience. Disclaimer: This information is for educational purposes only and does not constitute legal advice. For official immigration guidance, please consult a regulated Canadian immigration professional or visit the official IRCC website.

Educational overview summarizing this occupation. Always confirm against the official NOC profile and IRCC before relying on it.

Verify this NOC with DUTYPROOF →Check program eligibility →

Occupation data: Statistics Canada / ESDC — National Occupational Classification (NOC) 2021.