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back office - 4 dictionary results
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back office
–noun
| any department or office, as a private office or a department of record keeping, that is not usually seen by outsiders. |
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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Based on the Random House Dictionary, © Random House, Inc. 2009.
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Link To back office
| back office n. The internal operations of an organization that are not accessible or visible to the general public: "The . . . bank will . . . modernize its back office and computer systems and improve its marketing and customer service" (Peter Sinton). |
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Back Office
Administration and support personnel in a financial services company. They carry out functions like settlements, clearances, record maintenance, regulatory compliance, and accounting. When order processing is slow due to high volume, it is commonly referred to as "back office crunch."
Investopedia Commentary
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 and support services.
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See also: Front Office, Middle Office
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back office
- The physical location within a business where records are kept and processed. In the case of a brokerage firm, the back office includes the section where individual account records are kept, checks are processed, and security certificates are sent. Also called operations department.
Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Copyright © 2003. Published by Houghton Mifflin.
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Copyright © 2009, Dictionary.com, LLC. All rights reserved.
