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 enquiries and provide information regarding an establishment's goods, services, and policies. They also provide customer services such as receiving payments and processing requests for services. They are employed by banks, trust companies, credit unions and similar financial institutions.

Job Outlook

Average

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  • Estimate decline slightly employment change, 2017-2019
  • Estimate 140 openings due to growth and retirements, 2017-2019
  • Estimate Moderate rate of unemployment in 2016

Compared to: All Sales and Service

  • Estimate Decline slightly employment change, 2017-2019
  • Estimate 5260 openings due to growth and retirements, 2017-2019
  • Estimate Moderate rate of unemployment in 2016

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 so job opportunities occur fairly regularly. The number employed in this occupation is expected to decline slightly over the next few years, which may affect the number of new opportunities available. With a large percent of workers being 55 years of age and older, retirements are expected to be a key contributor to employment opportunities over the coming years. Customer Services Representatives in Financial Institutions may either be working full-time or part-time hours. Furthermore, the jobs are typically permanent positions.

The median employment income for 45% of Customer Services Representatives in Financial Institutions who worked full-time, year-round in 2015 was $35,015. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)

Hourly Pay

$12.00

Minimum

$15.50

Median

$21.49

Maximum

Annual Pay

$7,850

Minimum

$27,080

Median

$44,092

Maximum

Compared to: All Sales and Service

Hourly Pay

$10.70

Minimum

$12.50

Median

$21.17

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 enquiries and provide information regarding an establishment's goods, services, and policies. They also provide customer services such as receiving payments and processing requests for services. They are employed by banks, trust companies, credit unions and similar financial institutions.

Job duties

Customer service representatives perform some or all of the following duties:

  • Process customer cash deposits and withdrawals, cheques, transfers, bills and credit card payments, money orders, certified cheques and other related banking transactions.
  • Obtain and process information required for the provision of services, such as opening accounts and savings plans and purchasing bonds.
  • Sell travellers' cheques, foreign currency and money orders.
  • Answer enquiries 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

  • Completion of 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

1,900

employed in 2016

64.0%

employed full-time

0.0%

self employed

80.1%
Icons/female Created with Sketch.
19.9%
Icons/male Created with Sketch.
40.4

median age

Compared to: All Sales and Service

102,605

employed in 2016

59.4%

employed full-time

6.2%

self employed

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

median age

Where will I likely work?

56.1%

Halifax

12.6%

Cape Breton

11.9%

Northern

10.7%

Annapolis Valley

8.9%

Southern

Compared to: All NS Occupations

47.0%

Halifax

15.6%

Northern

12.9%

Annapolis Valley

12.7%

Cape Breton

11.8%

Southern

Top Industries of Employment

89.2%

Finance, Insurance, Real Estate & Leasing

6.6%

Management, Admin & Other Support

1.1%

Retail Trade

1.1%

Public Administration

0.8%

Health Care and Social Assistance

What is the age of Employment?

23.2%

45-54

21.9%

35-44

20.5%

55-64

19.2%

25-34

11.3%

15-24

3.3%

65+

Compared to: All Sales and Service

35.7%

25-34

28.6%

35-44

21.4%

55-64

Top levels of education

38.6%

High school

$23,069 median annual income
27.7%

College certificate or diploma

$25,950 median annual income
21.1%

Bachelor's degree

$27,309 median annual income
6.4%

Trades certificate

$23,992 median annual income
1.9%

Less than high school

$15,519 median annual income

Compared to: All Sales and Service

40.4%

High school

$12,982 median annual income
19.9%

College certificate or diploma

$19,514 median annual income
18.8%

Less than high school

$9,486 median annual income
10.0%

Bachelor's degree

$20,807 median annual income
8.0%

Trades certificate

$18,797 median annual income

Education & training

Adult high school/secondary diploma programs

This program is typically offered at the high school level.

This instructional program class comprises any program that defines the prescribed requirements, specified by the appropriate jurisdiction, for the completion of and graduation from a secondary school program of academic subject matter offered for adult learners outside of the regular secondary school program. This does not include adult compensatory education programs resulting in completion of a high school equivalency certificate or diploma.

Institutions providing this program

Universite Sainte-Anne

Siège Social: 1695, Route 1

Pointe-de-l'Église, NS B0W 1M0

(902) 769-2114

Nova Scotia Community College - Annapolis Valley Campus

50 Elliott Road

Lawrencetown, NS B0S 1M0

(902) 825-3491

Nova Scotia Community College - Cumberland Campus

PO Box 550, 1 Main Street

Springhill, NS B0M 1X0

(902) 597-3737

Nova Scotia Community College - Akerley Campus

21 Woodlawn Road

Dartmouth, NS B2W 2R7

(902) 491-4900

Nova Scotia Community College - Burridge Campus

372 Pleasant Street

Yarmouth, NS B5A 2L2

(902) 742-3501

Nova Scotia Community College - Kingstec Campus

236 Belcher Street

Kentville, NS B4N 0A6

(902) 678-7341

Nova Scotia Community College - Lunenburg Campus

75 High Street

Bridgewater, NS B4V 1V8

(902) 543-4608

Nova Scotia Community College - Institute of Technology Campus

5685 Leeds Street

Halifax, NS B3K 2T3

(902) 491-6722

Nova Scotia Community College - Pictou Campus & School of Fisheries

PO Box 820, 39 Acadia Avenue

Stellarton, NS B0K 1S0

(902) 752-2002

Nova Scotia Community College - Shelburne Campus

PO Box 760, 1575 Lake Road

Shelburne, NS B0T 1W0

(902) 875-8640

Nova Scotia Community College - Strait Area Campus & Nautical Institute

226 Reeves Street

Port Hawkesbury, NS B9A 2A2

(902) 625-2380

Nova Scotia Community College - Marconi Campus

PO Box 1042, 1240 Grand Lake Road

Sydney, NS B1P 6J7

(902) 563-2450

Nova Scotia Community College - Truro Campus

36 Arthur Street

Truro, NS B2N 1X5

(902) 893-5385

Business administration and management - General

This program may be offered at the college, trades, or university level.

This instructional program class comprises any program that generally prepares individuals to plan, organize, direct, and control the functions and processes of a firm or organization. These programs 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 - Dartmouth

45 Ochterloney Street, Suite 100

Dartmouth, NS B2Y 2N6

(902) 463-6700

Eastern College - Halifax

6940 Mumford Road, Suite 111

Halifax, NS B3L 0B7

(902) 423-3933

Success College

800 Sackville Drive

Lower Sackville, NS B4E 1R8

(902) 865-8283

Academy of Learning - Halifax

6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre

Halifax, NS B3L 4P1

(902) 455-3395

Acadia University

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

Universite Sainte-Anne

Siège Social: 1695, Route 1

Pointe-de-l'Église, NS B0W 1M0

(902) 769-2114

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Nova Scotia Community College - Cumberland Campus

PO Box 550, 1 Main Street

Springhill, NS B0M 1X0

(902) 597-3737

Nova Scotia Community College - Burridge Campus

372 Pleasant Street

Yarmouth, NS B5A 2L2

(902) 742-3501

Nova Scotia Community College - Kingstec Campus

236 Belcher Street

Kentville, NS B4N 0A6

(902) 678-7341

Nova Scotia Community College - Lunenburg Campus

75 High Street

Bridgewater, NS B4V 1V8

(902) 543-4608

Nova Scotia Community College - Pictou Campus & School of Fisheries

PO Box 820, 39 Acadia Avenue

Stellarton, NS B0K 1S0

(902) 752-2002

Nova Scotia Community College - Strait Area Campus & Nautical Institute

226 Reeves Street

Port Hawkesbury, NS B9A 2A2

(902) 625-2380

Nova Scotia Community College - Marconi Campus

PO Box 1042, 1240 Grand Lake Road

Sydney, NS B1P 6J7

(902) 563-2450

Nova Scotia Community College - Truro Campus

36 Arthur Street

Truro, NS B2N 1X5

(902) 893-5385

Nova Scotia Community College - Waterfront Campus & Aviation Institute

80 Mawiomi Place

Dartmouth, NS B2Y 0A5

(902) 491-1100

Nova Scotia Community College - Online Learning

Unit 37, 115 Chain Lake Drive

Halifax, NS B3S 1B3

(877) 491-6774

Business administration, management and operations - Other

This program may be offered at the college, trades, or university level.

This instructional program class comprises any program not listed above that relates to Business Administration, Management and Operations.

Institutions providing this program

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Employment requirements & contacts

No regulating bodies were found under this occupation profile

Contacts

Customer Service Institute of Canada
,

Additional resources

There are no additional resources for this occupation.

Job postings

There are currently no job postings for this occupation.