What is a Financial Clerk?
Table of Contents
A financial clerk is someone who governs many different financial transactions in businesses by keeping track of a company’s money. These individuals primarily perform administrative work for banking, insurance, and other companies. They keep records, help customers, and carry out financial transactions.
How to Become a Financial Clerk
What does a Financial Clerk do?
There are several types of financial clerks:
- A bank clerk might help a customer deposit money or figure out which type of account would best suit a particular customer
- An insurance clerk typically keeps files of payments that have come in and of payments that are still due
- A brokerage clerk writes orders for the sale and purchase of stocks and shares, calculates applicable taxes and fees, issues dividends, and records transactions
- A billing and posting clerk may produce bills, compute fees, assess sales and purchase orders, and apprise customers and vendors of account updates
- A procurement clerk keeps track of the supplies and purchases while also dealing with questions about orders
- A payroll clerk records and verifies employee hours and pay
- A loan clerk verifies financial and other information for loan applications
- A gaming cage clerk manages money at a casino
- A new accounts clerk discusses and interviews individuals who are interested in opening new accounts at a bank or other type of financial institution
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How to become a Financial Clerk
A person who wants to be a financial clerk must have basic math skills, as he or she will be dealing with numbers all throughout the day. Communication and organization skills are important, as financial clerks generally have a lot of interaction with clients and are often responsible for maintaining files.
Usually, people can enter into this field with a high school diploma. However, a degree in business or economics from either a two or four year college may be preferable for those interested in being brokerage clerks. Individuals who have a bachelor's degree generally start at a higher pay rate and are more easily able to advance than their counterparts without degrees. There is typically a training period for new hires. This training period can vary from industry to industry and company to company.
What is the workplace of a Financial Clerk like?
Financial clerks work in a wide range of industries, including healthcare, insurance, government, recreation and banking. The work environment varies depending on the specific job. A busy bank is going to require a person who is ready to work at all times, while a small insurance company with a few clients might only have part-time openings. Gaming clerks could have hours at any time since casinos are generally open 24 hours per day.