Financial Clerks

What They Do: Financial clerks do administrative work, keep records, help customers, and carry out financial transactions.

Work Environment: Financial clerks usually work in offices, including bank branches, medical practices, and government agencies. Most work full time.

How to Become One: A high school diploma is typically required for most financial clerk positions. These workers typically learn their job duties through on-the-job training.

Salary: The median annual wage for financial clerks is $44,760.

Job Outlook: Employment of financial clerks is projected to decline 3 percent over the next ten years.

Related Careers: Compare the job duties, education, job growth, and pay of financial clerks with similar occupations.

Following is everything you need to know about a career as a financial clerk with lots of details. As a first step, take a look at some of the following jobs, which are real jobs with real employers. You will be able to see the very real job career requirements for employers who are actively hiring. The link will open in a new tab so that you can come back to this page to continue reading about the career:

Recently posted financial clerk jobs

• Accounts Receivable Clerk - GHJ Search and Staffing - Los Angeles, CA

  As an Accounts Receivable Clerk you will play a crucial role in maintaining accurate financial records, ensuring timely collections, and supporting the overall financial health of the organization

• Account Clerk - A-Line Staffing Solutions - Columbus, OH

  The Accounting Clerk would be working for a large organization and has career growth potential ... Analyzes accounts, expenditures & financial reports for purposes of determining preliminary budget ...

• Office Clerk - Legal Deptartment - Lobel Financial Corporation - Buena Park, CA

  Join one of the top 20 auto finance companies in the industry and grow with us! We offer in-house ... Position Summary The Office Clerk provides clerical assistance to the Legal Department. The Job ...

• Accounting Clerk - Tec West Irvine - Huntington Beach, CA

  Huntington Beach, CA Pay Rate: $23 - $25 per hour The Accounting Clerk is responsible for providing support to the accounting department by performing a range of financial tasks, including but not ...

• Accounts Receivable Clerk - AmeriTech Staffing, Inc. - Houston, TX

  Accounts Receivable Clerk - Houston, TX; in the Post Oak area Seeking an experienced and reliable ... financial information and reports, and performing basic account and bank reconciliations. Primary ...

• Accounts Receivable/Payable Clerk - InBody - Cerritos, CA

  Job Description We are looking for a skilled Accounts Receivable/Payable Clerk to provide financial , administrative and clerical services. Accounts receivable duties include ensuring accuracy and ...

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What Financial Clerks Do[About this section] [To Top]

Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.

Duties of Financial Clerks

Financial clerks typically do the following:

• Keep and update financial records
• Compute bills and charges
• Offer customer assistance
• Carry out financial transactions

Financial clerks give administrative and clerical support in financial settings. Their specific job duties vary by specialization and by setting.

The following are examples of types of financial clerks:

Billing and posting clerks calculate charges, generate bills, and prepare them to be mailed to customers. They review documents such as purchase orders, sales tickets, charge slips, and hospital records to compute fees or charges due. They also contact customers to get or give account information.

Gaming cage workers work in casinos and other gaming establishments. The "cage" in which they work is the central depository for money and gaming chips. Gaming cage workers sell gambling chips, tokens, or tickets to patrons. They count funds and reconcile daily summaries of transactions in order to balance books.

Payroll and timekeeping clerks compile and post employee time and payroll data. They verify and record attendance, hours worked, and pay adjustments. They ensure that employees are paid on time and that their paychecks are accurate.

Procurement clerks compile requests for materials, prepare purchase orders, keep track of purchases and supplies, and handle questions about orders. They respond to questions from customers and suppliers about the status of orders. Procurement clerks handle requests to change or cancel orders. They make sure that purchases arrive on schedule and that the items meet the purchaser's specifications.

Brokerage clerks help with tasks associated with securities such as stocks, bonds, commodities, and other kinds of investments. Their duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and keeping records of daily transactions and holdings.

Credit authorizers, checkers, and clerks review the credit history, and get the information needed to determine the creditworthiness, of individuals or businesses applying for credit. Credit authorizers evaluate customers' computerized credit records and payment histories to decide, based on predetermined standards, whether to approve new credit. Credit checkers call or write credit departments of business and service establishments to get information about applicants' credit standing.

Loan interviewers, also called loan processors or loan clerks, interview applicants and others to get and verify personal and financial information needed to complete loan applications. They also prepare the documents that go to the appraiser and are issued at the closing of a loan.

New accounts clerks interview people who want to open accounts in financial institutions. They explain the account services available to prospective customers and help them fill out applications. They also investigate and correct errors in accounts.

Insurance claims and policy processing clerks process applications for insurance policies. They also handle customers' requests to change or cancel their existing policies. Their duties include interviewing clients and reviewing insurance applications to ensure that all questions have been answered. They also notify insurance agents and accounting departments of policy cancellations or changes.

Work Environment for Financial Clerks[About this section] [To Top]

Financial clerks hold about 1.3 million jobs. Employment in the detailed occupations that make up financial clerks is distributed as follows:

Billing and posting clerks	445,300
Insurance claims and policy processing clerks	247,800
Loan interviewers and clerks	247,000
Payroll and timekeeping clerks	157,700
Procurement clerks	63,900
New accounts clerks	41,700
Brokerage clerks	41,000
Credit authorizers, checkers, and clerks	17,300
Gaming cage workers	11,600

The largest employers of financial clerks are as follows:

Credit intermediation and related activities	21%
Insurance carriers and related activities	19%
Healthcare and social assistance	17%
Professional, scientific, and technical services	8%
Administrative and support services	6%

Financial clerks work in a variety of industries, usually in offices.

Financial Clerk Work Schedules

Most financial clerks work full time.

How to Become a Financial Clerk[About this section] [To Top]

Get the education you need: Find schools for Financial Clerks near you!

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education for Financial Clerks

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, who have a 2- or 4-year college degree.

Financial Clerk Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement for Financial Clerks

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities for Financial Clerks

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks includes calculating charges and updating financial records.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

Financial Clerk Salaries[About this section] [More salary/earnings info] [To Top]

The median annual wage for financial clerks is $44,760. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $29,830, and the highest 10 percent earned more than $61,150.

Median annual wages for financial clerks are as follows:

Brokerage clerks	$54,000
Payroll and timekeeping clerks	$47,610
Loan interviewers and clerks	$45,940
Insurance claims and policy processing clerks	$45,520
Procurement clerks	$45,150
Credit authorizers, checkers, and clerks	$44,710
Billing and posting clerks	$38,330
New accounts clerks	$37,840
Gambling cage workers	$29,360

The median annual wages for financial clerks in the top industries in which they work are as follows:

Insurance carriers and related activities	$46,520
Credit intermediation and related activities	$45,260
Professional, scientific, and technical services	$42,160
Healthcare and social assistance	$38,260
Administrative and support services	$38,100

Most financial clerks work full time.

Job Outlook for Financial Clerks[About this section] [To Top]

Overall employment of financial clerks is projected to decline 3 percent over the next ten years.

Despite declining employment, about 130,500 openings for financial clerks are projected each year, on average, over the decade. All of those openings are expected to result from the need to replace workers who transfer to other occupations or exit the labor force, such as to retire.

Employment of Financial Clerks

Projected employment of financial clerks varies by occupation. The availability of online tools, which allow financial customers to perform many tasks themselves, is expected to reduce demand for occupations such as new accounts clerks; procurement clerks; and credit authorizers, checkers, and clerks. Similarly, productivity-enhancing technology is expected to limit demand for other clerks, such as payroll and timekeeping clerks, loan interviewers and clerks, brokerage clerks, and insurance claims and policy processing clerks.

Employment of gambling cage workers will be impacted by the adoption of technology in payout processing and online gambling, which limits the need for cage workers.

Employment of billing and posting clerks is expected to rise in fast-growing healthcare industries; however, automated invoice processing software will increase the productivity of these workers and reduce overall employment growth.

Employment projections data for Financial Clerks, 2021-31

Occupational Title	Employment, 2021	Projected Employment, 2031	Change, 2021-31
			Percent	Numeric
Financial clerks	1,273,400	1,234,900	-4	-38,500
Billing and posting clerks	445,300	450,000	1	4,700
Gambling cage workers	11,600	11,600	0	0
Payroll and timekeeping clerks	157,700	133,900	-15	-23,800
Procurement clerks	63,900	59,600	-7	-4,300
Brokerage clerks	41,000	38,900	-5	-2,100
Credit authorizers, checkers, and clerks	17,300	16,600	-4	-700
Loan interviewers and clerks	247,000	245,400	-1	-1,700
New accounts clerks	41,700	36,900	-12	-4,800
Insurance claims and policy processing clerks	247,800	242,000	-2	-5,800

Careers Related to Financial Clerks[About this section] [To Top]

Bill and Account Collectors

Bill and account collectors try to recover payment on overdue bills. They negotiate repayment plans with debtors and help them find solutions to make paying their overdue bills easier.

Bookkeeping, Accounting, and Auditing Clerks

Bookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy.

Gambling Services Workers

Gambling services workers serve customers in gambling establishments, such as casinos or racetracks. Some workers tend slot machines or deal cards. Others take bets or pay out winnings. Still others supervise or manage gambling workers and operations.

Information Clerks

Information clerks perform routine clerical duties such as maintaining records, collecting data, and providing information to customers.

Medical Records and Health Information Technicians

Medical records and health information technicians, commonly referred to as health information technicians, organize and manage health information data. They ensure that the information maintains its quality, accuracy, accessibility, and security in both paper files and electronic systems. They use various classification systems to code and categorize patient information for insurance reimbursement purposes, for databases and registries, and to maintain patients' medical and treatment histories.

Secretaries and Administrative Assistants

Secretaries and administrative assistants perform routine clerical and administrative duties. They organize files, prepare documents, schedule appointments, and support other staff.

Tellers

Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.

More Financial Clerk Information[About this section] [To Top]

For more information about financial clerks, visit

American Bankers Association

Mortgage Bankers Association