In the financial services industry, the term is used to describe departments in a bank or brokerage house that are not directly involved in selling or trading with customers. These departments handle areas such as transaction processing, accounting, record keeping and compliance.
The administrative functions at a brokerage that support the trading of securities, including trade confirmation and settlement, recordkeeping, and regulatory compliance. Or more generally, administrative functions that support but are not directly involved in the operations of a business, such as accounting and personnel.
The area within a brokerage that is responsible for settlement, transfer of funds, opening accounts and other administrative duties.
A term that refers to the operational activities of a company, as opposed to the main business, or 'front office' operations. The back office of an investment bank comprises the accounting, reporting and support operations while the front comprises the analysts, dealers and traders.
The "back office" term refers to the areas of focus for the current conversion phase. For example, during the HCM phase the "back office" areas would be identified as Human Resources, Benefits Administration, and Payroll.
A general term for the category of applications that support non-customer-facing, core enterprise functions. Examples include enterprise resource planning (ERP), supply chain management (SCM) and human-resource systems. See ERP, SCM and front office.
Departments in a financial institution in which the majority of their work is accounting, balancing, clearing, and bookkeeping, not directly in dealing with clients.
An industry expression used to describe non-sales departments of a brokerage concern. Its particular reference is usually to a firm's P&S and Cashiering Departments.
A Bank or brokerage house department not directly involved in selling or trading; sees to accounting records, compliance with government regulations and communication between branches.
For a store or any commercial concern, the expression "back office" typically, refers to the set of activities that are not directly visible to customers, but are the foundation for the concern's ability to operate. See also front office.
The departments and processes that exist to settle financial transactions.
The area of reserve management operations responsible for confirmation, settlement and, in many cases, reconciliation of reserve management transactions.
An office that handles settlement of trades conducted by a broker-dealer or market maker
Is the area or function which relates to the processing, record keeping, and other operational aspects of transactions for financial firms. This compares to Front Office and Middle Office.
The term for the part of the organisation that deals with the settlement and processesing of completed trades.
Brokerage houses and other financial institutions have a department that supports the compilation and verification of reports and settles trades, record keeping and regulatory compliance.
Settlement and related processes.
A department of a bank or a firm operating in financial markets that processes deals executed and handles delivery, settlement and regulatory procedures.
The tasks CRM doesn't deal with. Financial services, accounting, personnel/human resources are examples of back office tasks. See Front Office for a counterpoint.
The office location, or department, where the processing of financial transactions takes place.
Those departments of a broker-dealer that are not directly involved in sales or trading. Some back office functions include cashiering, accounting, and the record keeping of clients' cash or margin accounts. See: Broker-Dealer; Front Office; Margin Account
The department and processes related financial settlements and transactions.
An office primarily for handling clerical work that is not open for outsider visitation; an office environment without the presence of layers of upper management or from which directions, controls, and instructions for other operations of an enterprise don't originate. Telecommunications work that doesn't include face-to-face meetings with outsiders, such as telemarketing or customer support services, may be included in back office operations.
Brokerage house clerical operations that support, but do not include, the trading of stocks and other securities. Includes all written confirmation and settlement of trades, record keeping and regulatory compliance.
Back office is the expression for the location where the processing of currency transactions occur.
The departments and processes related to the settlement of financial transactions.
See Microsoft Back Office.
this is the location where client records are maintained and processed. Many back offices are computerized, quick and efficient. Though, there are still mistakes.
A traditional description of the settlement function within an Institution.
The support / clerical operations of a financial institution.
The department in a financial institution that processes and deals and handles delivery, settlement and regulatory procedures.
A back office is a part of most corporations where tasks dedicated to running the company itself take place. Examples of back-office tasks include IT departments that keep the phones and computers running, accounting, and human resources. These tasks are often supported by back office systems: secure e-commerce software that processes company information (i.e. a database).