|
| |
Back office is any department or team in a firm that doesn't directly interact with the customer. The term is most commonly used in the banking industry but is applied to other industries as well. The following are common examples of back office functions.
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.Monitoring of compliance.AccountingAccounting and related functions such as auditing.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 and related administrative functions.ManufacturingManufacturing and related functions such as logistics.NotesIn 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.|
| Type | | | Definition | Any department or team in a firm that doesn't directly interact with the customer. | | Related Concepts | |
Organizational Structure
This is the complete list of articles we have written about organizational structure.
If you enjoyed this page, please consider bookmarking Simplicable.
© 2010-2023 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.
View credits & copyrights or citation information for this page.
|
