Financial companies require financial clerks to maintain organized records, assist customers and perform financial transactions. This administrative work supports a companies’ day-to-day workflow, though specific job duties vary by setting and specialty.
Below we’ll look at the typical job duties of a financial clerk along with required education and potential salary and job growth data. Discover how you can join the ranks of fellow financial clerks with a degree from Florida Institute of Technology’s online Bachelor’s in Accounting program.
Finance Clerk Job Description
Financial (or finance) clerks are primarily responsible for administrative work in banking, insurance and other companies. This generally involves maintaining and updating financial records, computing bills and charges, assisting customers and processing financial transactions.
While the basic duties of financial clerks remain consistent across industry, other responsibilities vary according to specialty and setting. Billing and posting clerks, for example, are responsible for calculating charges, developing and mailing bills and reviewing purchase orders, sales tickets and charge slips, among other documents. Other common specialties include:
- Payroll and timekeeping clerks compile and post employee time and payroll data, in addition to ensuring employees are paid on time.
- Brokerage clerks write orders for stock purchases and sales, compute transfer taxes, verify stock transactions, distribute dividends and keep records of transactions and holdings.
- Claims- and policy-processing clerks process insurance policy applications and requests to change or cancel existing policies, which involves interviewing clients and working with agents and accounting departments.
The median annual wage of financial clerks is $47,070, according to 2023 data from the U.S. Bureau of Labor Statistics (BLS). The lowest 10% made less than $34,870 and the top 10% earned over $66,450.
Required Education and Training
Financial clerks typically need just a high school diploma for an entry-level role. Brokerage clerks, on the other hand, are typically required to have a 2- or 4-year college degree in business or economics. Most clerks learn their responsibilities through on-the-job training, which can usually take place in less than a single month. This also allows them to learn individual company procedures and formal technical training, if necessary.
Financial clerks should have excellent math skills for calculating charges, checking credit accounts and other financial tasks, in addition to strong communication and organizational skills. Hone these skills with a degree from Florida Institute of Technology’s B.A. in Accounting program. With courses like Statistics, Applied Decision Making for Business and Cost Accounting, graduates will be well prepared for any career, especially one as a financial clerk.
Learn more about Florida Tech’s online B.A. in Accounting program.
