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What Are the Different Types of Back Office Jobs in Banks?

Geri Terzo
By Geri Terzo
Updated Mar 03, 2024
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In a financial institution, such as a retail bank or an investment bank, there are different sections of the firm. The back office represents an area that does not directly generate revenues or profits. Without the back office, however, professionals in the front office, such as investment bankers, traders, and financial analysts, would not be able to perform job tasks effectively. Back office jobs in banks include technology roles, accounting functions, and in some cases, positions surrounding risk management. Personnel management, such as human resources, is another division where back office jobs in banks can be found.

The back office jobs in banks that are available may not be as high profile as the positions found in the front office, but these functions are vital to the ongoing operation of financial firms. In an investment bank, for instance, there may be a trading floor where financial securities are bought and sold. Regardless of how heavy trading volume may be in a given trading day, back office professionals must make sure that trading activities are finalized, settled, and cleared properly. Back office professionals in a bank ensure that payments are received so that payrolls can be met and other investments may be pursued. Any malfunction in the back office could have repercussions not only on an individual banking institution but the entire economy if the financial institution is large enough.

In a retail bank setting, where financial deposits are accepted, the back office jobs may be found in administration and technology. On the administration side, personnel who support the financial transactions that are performed by bank managers fulfill back office bank jobs. These positions are filled with professionals who have strong organizational skills because heavy filing in addition to other record keeping must be performed. Information technology professionals also fill back office jobs at banks and may create the very software programs that are used by administrative personnel to manage documents electronically.

Back office jobs in banks may include financial roles in accounting. These opportunities may encompass handling an organization's payroll, including part-time and full-time employees. Accounting employees may also manage expense reports and follow through with employees who are due reimbursement from business travel. Employees in this department handle sensitive information tied to staff and are responsible for distributing the appropriate tax documents each year. It is possible for a bank to outsource accounting functions by hiring a third-party firm.

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