Customer Services Representatives in Financial Institutions

(NOC 6551)

in All Sales and Service

Customer service representatives in this group process customers' financial transactions and provide information on related banking products and services. They answer questions and provide information regarding an organization's goods, services, and policies. They also provide customer services like receiving payments and processing requests for services. They work for banks, trust companies, credit unions, and similar financial institutions.

Job Outlook

average

Read more

  • Estimate Moderate growth employment change, 2021-2023
  • Estimate 285 openings due to growth and retirements, 2021-2023
  • Estimate Low rate of unemployment in 2022

Compared to: All Sales and Service

  • Estimate 10325 employment change, 2021-2023
  • Estimate 17495 openings due to growth and retirements, 2021-2023
  • Estimate rate of unemployment not available for these occupation.

The employment outlook over the next few years for this occupational group is “average”, which indicates the chances of a qualified individual finding work is comparable to the average for all occupations in Nova Scotia. This is a fairly large occupation in Nova Scotia, with employment around 2,100. The number employed in this occupation is expected to grow significantly over the next few years, which will provide additional opportunities for employment. With a moderate percent of workers being 55 years of age and older, retirements are expected to contribute somewhat to employment opportunities over the coming years. Customer Services Representatives - Financial Institutions may either be working full-time or part-time hours. Furthermore, the jobs are typically permanent positions. Also, a large percentage of the workforce is self-employed which should be an important consideration for those thinking about employment in the occupation.

Hourly Pay

$15.00

Minimum

$18.00

Median

$25.64

Maximum

Annual Pay

$7,850

Minimum

$27,080

Median

$44,092

Maximum

Compared to: All Sales and Service

Hourly Pay

$12.95

Minimum

$15.00

Median

$25.60

Maximum

Annual Pay

$2,949

Minimum

$16,629

Median

$45,086

Maximum

About the job

Nature of work

Customer service representatives in this group process customers' financial transactions and provide information on related banking products and services. They answer questions and provide information regarding an organization's goods, services, and policies. They also provide customer services like receiving payments and processing requests for services. They work for banks, trust companies, credit unions, and similar financial institutions.

Job duties

Customer service representatives:

  • Process customer cash deposits and withdrawals, cheques, transfers, bills and credit card payments, money orders, certified cheques, and other related banking transactions.
  • Get and process information required for service provision like opening accounts and savings plans and purchasing bonds.
  • Sell travellers' cheques, foreign currency, and money orders.
  • Answer questions and resolve problems or discrepancies concerning customers' accounts.
  • Inform customers of available banking products and services to address their needs.

Sample job titles

  • bank customer service officer
  • bank teller
  • credit union teller
  • customer service agent - financial institution
  • financial customer service representative
  • head teller - financial services
  • teller - financial services

Skills

  • Good communication and interpersonal skills are important, along with a willingness to learn and adapt to continually changing equipment and software. Familiarity with computer software and other office equipment is needed. Basic mathematical skills are required, and you should be comfortable handling basic financial transactions. Your work must be accurate and you should enjoy repetitive tasks. You should also be cooperative and able to work as part of a team.

Job requirements

  • High school is required.
  • A college diploma in business administration may be required.
  • On-the-job training is provided.

Other considerations

  • The widespread application of computer technology to the duties performed by many customer services representatives means that a solid foundation in computer skills is often necessary for entry into these jobs. Progression to supervisory positions is possible with experience.

By the numbers

Quick look

2,140

employed in 2016

62.4%

employed full-time

0.0%

self employed

80.4%
Icons/female Created with Sketch.
19.6%
Icons/male Created with Sketch.
40.4

median age

Compared to: All Sales and Service

102,605

employed in 2016

56.4%

employed full-time

5.8%

self employed

60.1%
Icons/female Created with Sketch.
39.9%
Icons/male Created with Sketch.
37

median age

Where will I likely work?

55.9%

Halifax

$28,240 median annual income
12.6%

Cape Breton

$25,498 median annual income
11.9%

North Shore

$26,107 median annual income
10.7%

Annapolis Valley

$26,609 median annual income
8.9%

Southern

$28,829 median annual income

Compared to: All NS Occupations

47.0%

Halifax

15.6%

North Shore

12.9%

Annapolis Valley

12.7%

Cape Breton

11.8%

Southern

Top Industries of Employment

89.0%

Finance and insurance

6.6%

Administrative and support, waste management and remediation services

1.0%

Public administration

1.0%

Retail trade

0.8%

Health care and social assistance

What is the age of Employment?

25.0%

25-34

20.0%

45-54

19.0%

35-44

17.0%

55-64

16.0%

15-24

2.0%

65+

Compared to: All Sales and Service

30.0%

15-24

17.2%

45-54

17.2%

25-34

16.1%

55-64

13.8%

35-44

Top levels of education

38.1%

High school

$25,638 median annual income
27.8%

College Diploma

$28,820 median annual income
21.0%

Bachelor

$27,126 median annual income
6.5%

Trade Certification

$28,866 median annual income
2.1%

Less than high school

$16,494 median annual income

Compared to: All Sales and Service

39.8%

High school

$15,705 median annual income
19.7%

Less than high school

$9,866 median annual income
19.5%

College Diploma

$20,644 median annual income
9.9%

Bachelor

$21,262 median annual income
8.0%

Trade Certification

$21,234 median annual income

Education & training

Business Administration and Management

College, Trades, or University Program

These programs prepare students to plan, organize, direct, and control the functions and processes of a firm or organization. They include courses in management theory, human resources management and behaviour, accounting and other quantitative methods, purchasing and logistics, organization and production, marketing, and business decision-making.

Institutions providing this program

Maritime Business College

Lower Sackville, NS

Academy of Learning Career College - Halifax

Halifax, NS

Acadia University

Wolfville, NS

Dalhousie University

Halifax, NS

Mount Saint Vincent University

Halifax, NS

Universite Sainte-Anne

Pointe-de-l'Église, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Dalhousie University Faculty of Agriculture

Truro, NS

Nova Scotia Community College

Various, NS

High School Diploma or Equivalent

High School Program

Adults without a high school diploma can contact the Nova Scotia School for Adult Learning (NSSAL) for tuition-free programming across the province. NSSAL oversees adult education programs in Nova Scotia. NSSAL partners with the Nova Scotia Community College, Adult High Schools, Université Sainte-Anne, and community-based learning organizations to deliver programs. NSSAL offers clear, accessible pathways from adult basic education to a high school credential or GED.

Institutions providing this program

Universite Sainte-Anne

Pointe-de-l'Église, NS

Nova Scotia Community College

Various, NS

Adult High Schools

Various, NS

Community Learning Organizations

Various, NS

Employment requirements & contacts

No regulating bodies were found under this occupation profile

Contacts

Contact Centre Nova Scotia
Lower Sackville, NS

Additional resources

There are no additional resources for this occupation.