What is the front middle and back office?

How a Middle Office Works. A financial services company is logically broken up into three parts: The front office includes sales personnel and corporate finance, the middle office manages risk and IT resources, and the back office provides administrative, support, and payment services.

What is front office in a bank?

Simply put, front office staff are the people who directly generate revenue for the company. The front office largely consists of client-facing roles. So in a finance company or investment bank, front office departments might consist of sales and trading, investment banking, wealth management, and private equity.

What is front office in a call center?

As the term implies, staff who are the first seen or heard by your customers work in functions known as the front office. These include in-store or branch sales and service people, as well as agents in your call center.

What is a middle office role?

The middle office supports the front office by processing transactions negotiated by the front office personnel to ensure that transactions are booked and fulfilled appropriately. Other functions performed by the middle office include risk management, information technology, accounting, and legal support.

What is the role of middle office?

What is front desk?

A Front Desk Representative is a professional who is the first point of contact for all customers of a business. They greet customers, answer phones, receive and deliver mail, and assist with maintaining and ordering office supplies.

Is front office a risk?

Risk management jobs are usually considered to be in the middle office. So are compliance jobs. So are finance and accounting jobs (for example product controllers which work out traders’ profits and losses).

Is finance middle or back office?

Financial control is also part of the middle office – it’s essentially the accounting department for the bank, preparing financial statements for reporting to industry regulators etc.