Insurance clerk to financial markets back office administrator
An insurance clerk already meets 43% of what the financial markets back office administrator role asks for. The move turns on 6 required skills not yet in the profile.
55/ 100
1 How much of what a financial markets back office administrator is expected to do is already part of an insurance clerk’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the financial markets back office administrator role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
A financial markets back office administrator role treats 7 of its required skills as things an insurance clerk already does. You would walk in with these on day one.
- banking activities
- electronic communication
- handle financial transactions
- handle paperwork
- maintain records of financial transactions
- office software
What stands in the way is 6 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 10 skills that carry over, these are the ones fewest other occupations ask for. A financial markets back office administrator role needs them, and most people applying for one will not have them already. This is the part of an insurance clerk background worth leading with.
- already held handle paperwork management skills
- already held provide financial product information communication, collaboration and creativity
- already held electronic communication engineering, manufacturing and construction
- already held office software information and communication technologies (icts)
- already held maintain records of financial transactions information skills
- already held trace financial transactions information skills
All 10 carried skills, including the 7 the financial markets back office administrator role treats as required.
Table 3 · What you may need to learn
The 19 missing skills fall into 5 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn customer service required
- still to learn office administration required
- still to learn financial markets required
- still to learn financial products required
- optional, not held commercial law optional
- optional, not held foreign valuta optional
- optional, not held international commercial transactions rules optional
- optional, not held accounting optional
- optional, not held financial jurisdiction optional
- optional, not held securities optional
- optional, not held stock market optional
- still to learn manage contracts required
- optional, not held trade foreign currencies optional
- optional, not held trade securities optional
- still to learn manage administrative systems required
- optional, not held manage securities trading optional
- optional, not held actuarial science optional
- optional, not held statistics optional
- optional, not held economics optional
Table 4 · Where to start
The 3 entries a financial markets back office administrator role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 customer service study this
- 02 manage administrative systems practise this
- 03 office administration study this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 10 skills that carry over
- already held banking activities knowledge
- already held electronic communication knowledge
- already held handle financial transactions skill
- already held handle paperwork skill
- already held maintain records of financial transactions skill
- already held office software knowledge
- already held perform clerical duties skill
- already held communicate with banking professionals skill
- already held provide financial product information skill
- already held trace financial transactions skill
13 supplementary skills, helpful but not required
- optional, not held actuarial science optional
- optional, not held commercial law optional
- optional, not held foreign valuta optional
- optional, not held international commercial transactions rules optional
- optional, not held manage securities trading optional
- optional, not held trade foreign currencies optional
- optional, not held accounting optional
- optional, not held economics optional
- optional, not held financial jurisdiction optional
- optional, not held securities optional
- optional, not held statistics optional
- optional, not held stock market optional
- optional, not held trade securities optional
22 held skills the financial markets back office administrator role does not ask for
- not needed by the target role advise on financial matters skill
- not needed by the target role analyse insurance needs skill
- not needed by the target role classify insurance claims skill
- not needed by the target role communicate with customers skill
- not needed by the target role company policies knowledge
- not needed by the target role file claims with insurance companies skill
- not needed by the target role follow written instructions skill
- not needed by the target role handle incoming insurance claims skill
- not needed by the target role identify customer's needs skill
- not needed by the target role insurance law knowledge
- not needed by the target role insurance market knowledge
- not needed by the target role maintain financial records skill
- not needed by the target role obtain financial information skill
- not needed by the target role offer financial services skill
- not needed by the target role perform office routine activities skill
- not needed by the target role present reports skill
- not needed by the target role principles of insurance knowledge
- not needed by the target role review insurance process skill
- not needed by the target role tax legislation knowledge
- not needed by the target role types of insurance knowledge
- not needed by the target role use office systems skill
- not needed by the target role write work-related reports skill
14 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn customer service required
- still to learn office administration required
- still to learn financial markets required
- still to learn financial products required
- optional, not held actuarial science optional
- optional, not held commercial law optional
- optional, not held foreign valuta optional
- optional, not held international commercial transactions rules optional
- optional, not held accounting optional
- optional, not held economics optional
- optional, not held financial jurisdiction optional
- optional, not held securities optional
- optional, not held statistics optional
- optional, not held stock market optional
Common questions about this move
Can an insurance clerk become a financial markets back office administrator?
Yes, and it is a substantial move. An insurance clerk already covers 43% of what a financial markets back office administrator is expected to do: 10 skills carry over, 7 of which the financial markets back office administrator role treats as required.
What skills does an insurance clerk need to become a financial markets back office administrator?
6 required skills are missing, plus 13 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by business, administration and law. The single most important is customer service.
How hard is the move from insurance clerk to financial markets back office administrator?
Its learning distance is 55 out of 100, which is the substantial band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.