Operations
The teams that are responsible for the day-to-day operations for a firm. In the context of banking, this includes processes such as trading settlements, clearances and record maintenance.Compliance
Monitoring of compliance.Accounting
Accounting and related functions such as auditing.Information Technology
Information technology including both operations and development teams. Certain technology functions may be considered front office or middle office depending on the firm and industry. For example, technology directly used by the customer and front office teams.Human Resources
Human resources and related administrative functions.Manufacturing
Manufacturing and related functions such as logistics.Notes
In some cases, back offices are located further from the customer to save money or to make the firm more resilient to disaster. It is also common for a back office and front office to be in the same building.| Overview: Back Office | ||
Type | ||
Definition | Any department or team in a firm that doesn't directly interact with the customer. | |
Related Concepts | ||
