Minor Group

552 Financial and Insurance Clerks

Financial and Insurance Clerks receive deposits and pay out money in financial institutions, process credit, loan and insurance applications, maintain records of securities transactions and registrations, offer odds and accept bets, and compile data and undertake statistical and actuarial computations.

​​​​​​​Indicative Skill Level:

Most occupations in this minor group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:

  • AQF Certificate III including at least two years of on-the-job training, or AQF Certificate IV (ANZSCO Skill Level 3); or
  • AQF Certificate II or III (ANZSCO Skill Level 4)

In New Zealand:

  • NZQF Level 4 qualification (ANZSCO Skill Level 3); or
  • NZQF Level 2 or 3 qualification (ANZSCO Skill Level 4)

At least one year of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

Tasks Include:

  • answering customer inquiries about bank accounts, credit standing and loans
  • receiving deposits of money from and paying withdrawals of money to customers, and crediting and debiting their accounts
  • processing and authorising the approval of credit and loan applications
  • offering and varying odds on sporting events, and accepting and paying out bets
  • processing insurance applications, adjustments to cover and claims against policies
  • maintaining records of securities registrations and transactions
  • compiling tables, graphs and charts
Unit Group

5521 Bank Workers

Bank Workers receive deposits and pay out money in financial and commercial institutions, keep records of transactions, issue receipts and cash cheques.

​​​​​​​Indicative Skill Level:

Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:

  • AQF Certificate III including at least two years of on-the-job training, or AQF Certificate IV or at least three years of relevant experience (ANZSCO Skill Level 3)

In New Zealand:

  • NZQF Level 4 qualification, or at least three years of relevant experience (ANZSCO Skill Level 3)

In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

Tasks Include:

  • greeting customers, identifying their needs and answering customer inquiries
  • ensuring customers' forms are filled in correctly and checking customers' identification
  • accepting cash and cheques deposited by customers, verifying records and receipts, and crediting customers' accounts
  • paying money to customers according to advice slips, cheques and negotiable documents, and debiting customers' accounts
  • providing change, cashing cheques and recording transactions
  • opening and closing accounts for customers
  • balancing cash and advising supervisors of cash position and discrepancies
  • explaining and promoting bank services to customers and referring them to appropriate financial services

Occupation:

  • 552111 Bank Worker

552111 Bank Worker

Receives deposits and pays out money in a financial or commercial institution, keeps records of transactions, issues receipts and cashes cheques.

Skill Level: 3

Unit Group

5522 Credit and Loans Officers (AUS) / Finance Clerks (NZ)

Credit and Loans Officers (AUS) / Finance Clerks (NZ) analyse, evaluate and process credit and loan applications.

​​​​​​​Indicative Skill Level:

Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:

  • AQF Certificate III including at least two years of on-the-job training, or AQF Certificate IV or at least three years of relevant experience (ANZSCO Skill Level 3)

In New Zealand:

  • NZQF Level 4 qualification, or at least three years of relevant experience (ANZSCO Skill Level 3)

In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

Tasks Include:

  • analysing information about customers and examining references, credit ratings, investment risks, pay slips and other information against predetermined policy standards
  • contacting financial and credit institutions to obtain information about customers
  • preparing papers setting out conditions of credit and loans, rates of repayment and loan periods, and providing information about customers' standing to financial and credit institutions
  • authorising the approval of credit and loan applications and recommending credit and loan conditions and limits
  • keeping records of payments, and preparing routine letters requesting payment for overdue accounts and forwarding these for legal action
  • answering inquiries concerning credit standing of customers, loan balances and penalties
  • may recommend, approve and arrange mortgages
  • may work in a call centre

Occupation:

  • 552211 Credit or Loans Officer (Aus) / Finance Clerk (NZ)

552211 Credit or Loans Officer (Aus) / Finance Clerk (NZ)

Alternative Titles:

  • Lending Consultant
  • Loans Consultant
  • Loans Officer

Analyses, evaluates and processes credit and loan applications. May work in a call centre.

Skill Level: 3

Unit Group

5523 Insurance, Money Market and Statistical Clerks

Insurance, Money Market and Statistical Clerks prepare and check documentation associated with insurance, maintain records of securities transactions and registrations, offer odds and accept bets, and compile data and undertake statistical and actuarial computations.

Indicative Skill Level:

Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:

  • AQF Certificate II or III (ANZSCO Skill Level 4)

In New Zealand:

  • NZQF Level 2 or 3 qualification (ANZSCO Skill Level 4)

At least one year of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

Registration or licensing may be required.

Tasks Include:

  • obtaining information on the form of competitors by research, attending race trials and liaising with contacts
  • offering and varying odds on competitors after considering the type of event, handicaps, weather conditions and odds offered by other Bookmakers
  • processing insurance applications, adjustments to insurance cover, standard endorsements and insurance claims
  • monitoring balances of accounts and summarising reinsurance to determine outstanding risk
  • surveying potential risk exposure
  • despatching notices of premiums due and forms concerning conservation and transfer of insurance
  • reviewing, checking, verifying and issuing transaction documentation for securities
  • claiming accruing dividends and processing dividend payments
  • compiling statistics from financial records, survey returns and other data sources, and verifying the authenticity of the material
  • operating computers to input, manipulate and output information
  • compiling results of calculations into tables, graphs and charts to be used in analysis
  • may work in a call centre

Occupations:

  • 552311 Bookmaker
  • 552312 Insurance Consultant
  • 552313 Money Market Clerk
  • 552314 Statistical Clerk

552311 Bookmaker

Determines risk, offers odds and accepts bets on the outcome of racing and other events. Registration or licensing is required.

This occupation is illegal in New Zealand.

Skill Level: 4

552312 Insurance Consultant

Alternative Title:

  • Insurance Clerk

Prepares and checks documentation associated with insurance. May work in a call centre.

Skill Level: 4

Specialisations:

  • Health Insurance Assessor
  • Superannuation Clerk

552313 Money Market Clerk

Alternative Titles:

  • Scrip Clerk (Stockbroking)
  • Securities Clerk

Processes documentation and maintains records of securities transactions and registrations.

Skill Level: 4

552314 Statistical Clerk

Compiles data and undertakes statistical and actuarial computations.

Skill Level: 4

Specialisation:

  • Actuarial Clerk