They also provide information on payroll matters to employees. Customer service representatives and tellers process customers' financial transactions and provide information on banking services. Other financial clerks perform financial clerical duties in real estate, securities and similar offices. Collectors collect payments on overdue accounts and bad cheques, locate debtors and make collection arrangements. These clerks usually must have a high school diploma.
Many recent entrants have a community college diploma or an undergraduate university degree.
Payroll clerks usually have college or other courses in accounting, bookkeeping or payroll administration or experience as financial clerks. Collectors usually need a collections licence. Over the next five years, this outlook is not expected to change, since the number of job openings is expected to be matched by the number of qualified job seekers. Computerized financial and accounting systems, increased use of automated banking machines and alternate delivery channels for banking will affect the nature of work performed by this group. The automation of financial and payroll systems also poses challenges for this group.