Job prospects Financial Customer Service Representative in Ontario

Explore current and future job prospects for people working as a "financial customer service representative" in Ontario or across Canada.

Job opportunities in Ontario

These outlooks were updated on December 11, 2024.

Prospects over the next 3 years

The employment outlook will be limited for Customer services representatives - financial institutions (NOC 64400) in Ontario for the 2024-2026 period.

The following factors contributed to this outlook:

• Employment is expected to remain relatively stable.
• A moderate number of positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

What Types of Employers Are Out There?

• Majority employed in financial services, mainly in banks, and to a lesser extent in credit unions, and other institutions providing cheque-cashing and related services

 

What are the Main Trends Affecting Employment?

• Increased digitalization in the financial services in general and consolidation of bank branches may continue to moderate the demand for workers in this occupation
• Staff turnover should be a source of job openings due to the entry-level nature of this occupation
• Some roles, responsibilities and skill requirements may change as bank branches focus more on financial consultation, and undertake less of the traditional in-person banking activities

 

What Skills Do I Need to Succeed?

• Completion of post-secondary education may be preferred for some positions
• Previous experience in sales may be an asset in securing employment
• Strong computer skills are usually required.

Here are some key facts about Customer services representatives - financial institutions in Ontario:

• Approximately 33,250 people work in this occupation.
• Customer services representatives - financial institutions mainly work in the following sectors:
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 93%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 73% compared to 81% for all occupations
  • Part-time workers: 27% compared to 19% for all occupations
• 67% of customer services representatives - financial institutions work all year, while 33% work only part of the year, compared to 63% and 37% respectively among all occupations. Those who worked only part of the year did so for an average of 43 weeks compared to 43 weeks for all occupations.
• Less than 5% of customer services representatives - financial institutions are self-employed compared to an average of 15% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 28% compared to 52% for all occupations
  • Women: 71% compared to 48% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 9% for all occupations
  • high school diploma or equivalent: 31% compared to 25% for all occupations
  • apprenticeship or trades certificate or diploma: less than 5% compared to 8% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 23% compared to 22% for all occupations
  • bachelor's degree: 30% compared to 24% for all occupations
  • university certificate, degree or diploma above bachelor level: 9% compared to 13% for all occupations

Breakdown by region

Explore job prospects in Ontario by economic region.

Source Labour Market Information | Prospects Methodology

Job prospects elsewhere in Canada

Explore current and future job prospects for people working as a "financial customer service representative" Customer services representatives - financial institutions (NOC 64400) or across Canada.

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