Customer Service Representatives - Financial Services
What they do?
Customer service representatives in this unit group perform some or all of the following duties:
A. Process customer cash deposits and withdrawals, cheques, transfers, bills, credit card payments, money orders, certified cheques and other related banking transactions
B. Obtain and process information required for the provision of services, such as opening accounts and savings plans and purchasing bonds
C. Sell travellers' cheques, foreign currency and money orders
D. Balance daily transactions using computer programs, calculators and adding machines
E. Sort and file deposit slips and cheques
F. Prepare customer statements and other correspondence for mailing
G. Answer enquiries and resolve problems or discrepancies concerning customers' accounts.
What education do I need?
1. You must have a high school diploma.
2. You may also need a business college diploma as well as on-the-job training.
3. With experience, you may move up the ranks to become a supervisor.
4. Most recent entrants have a community college diploma, and almost 2 in 5 have a undergraduate university degree.
High School Subject that will help:
1. Math
2. Computer Basics - Word and Excel
3. English
What can you expect to make:
The average hourly wages for Customer Service Representatives - Financial Services is $13.85/HR, which is below average for occupations in the business, finance and administration sector and are close to the average for all intermediate occupations. These wages grew at an average rate from 2002 to 2004.
Average Wage
Expected Wage by Age
Unemployment:
3% of Customer Service Representatives - Financial Services are unemployed. This rate is below the average for intermediate occupations.
Unemployment
Trends in Unemployment
Current Job Outlook:
The job outlook for Customer Service Representatives - Financial Services is considered Average because:
1. Employment grew at an average rate.
2. Hourly wages ($13.85) are below the average ($18.07), and the rate of wage growth is close to the average.
3. The unemployment rate (3%) is close to the 2004 average (7%).
Future Job Prospects:
Your job outlook will continue to be Average because:
1. The employment growth rate will likely be average because job gains from more financial transactions should be partially balanced by job losses related to improvements in technology that allow employers to do more with fewer workers.
2. Although the retirement rate will likely be average, the number of retiring workers should contribute to job openings.
3. The number of job seekers will likely match the number of job openings.
Highest Concetration:
The highest concentrations (per 10,000 people) of Customer Service Representatives - Financial Services are found in Ontario and Saskatchewan while the lowest concentrations are in Prince Edward Island and Newfoundland.
Unionization Rate:
The unionization rate (14%) is below the average (32%) for all occupations.
Useful Experience:
1. Communication skills
2. Customer service
3. Computer literacy
