Typical functions include settlement of securities and derivatives including FX and commodities, reconciliations, issuance of new securities through Initial Public … A functioning middle- and back-office plays a crucial role in achieving those objectives. The Back-Office Operations Specialist will perform a wide range of operational, accounting, and card services duties, including daily processing of ACH, in-clearing checks, and bill payment files. Back Office Operations . Synonyms for back office include admin, administration, behind the scenes, non-public facing, operations and support. The term is most commonly used in the banking industry but is applied to other industries as well. Some generic back-office functions include: As an investment management company, your goal is to generate returns for your clients, and revenue for your organization. Middle-office and back-office outsourcing services Increase efficiency, reduce costs by outsourcing your operations. Building upon 25 years of account management experience, TransCore has installed more than 35 back office solutions and currently operates eight customer service centers. Although the operations of a back office are not considered strategic, they are critical to business success. Back Office Operations Many back office tasks are integral to core business process of a company. Every hour you spend on your staffing agency back office operations is an hour you could have spent finding quality candidates or growing your business. The back office is comprised of the areas that don’t directly generate revenue for the business, but provide vital support and administration. They will handle mobile and ATM deposits, order and reissue debit and credit cards, and perform wire transfers and check adjustment duties. Back office is any department or team in a firm that doesn't directly interact with the customer. Focused on Customer Service Excellence. The following are common examples of back office functions. The back office typically supports, and works to deliver on, the objectives and promises of the front office team. They perform functions that mostly focus on processing or support. Back office departments are historically far less efficient than customer-facing organizations or contact center operations. Find more similar words at wordhippo.com! The back office in an investment bank might encompass departments like I.T., operations, HR, accounting and compliance. Managing over $2 billion in annual toll revenues. Back Office Operations. That’s where we come in. In order to outsource them, one must be able to certitude that these tasks will be performed not only more efficiently or at a lower cost, but also with the highest level of quality than they have been performed in … Request a Consultation Apply for Funding. Back-office functions are so broad that operations staff typically specialise in only one of these areas. 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