The front office is the customer-oriented face of a financial services organization, providing service and selling products typically via internet or telephone. The back office, on the other hand, is responsible for the timely and efficient processing and reconciliation of any transactions and information generated by these and other business operations.
The front office reaches out to both existing and prospective customers, handling queries, complaints and purchases, using standardized processes that aim to create a positive customer experience and ultimately grow the business. Back office operations may be related to areas such as account administration, underwriting and securities services, international and treasury settlements, customer administration and claims management – vital processes that influence productivity, customer service and cost control.
In-demand Front & Back Office Support roles generally require:
An ability to process and reconcile large volumes of data while checking for discrepancies (Back Office)
Strong interpersonal skills with a sales and service mentality, including an ability to efficiently identify client needs and determine how to address them (Front Office)
Diverse educational backgrounds in Marketing, Economics, Statistics, Accounting, Finance, Business Administration and IT, with some roles open to backgrounds in any field
Ryan Laurenzi is a Senior Fund Accountant with RBC Investor and Treasury Services.
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