| any department or office, as a private office or a department of record keeping, that is not usually seen by outsiders. |
| 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). |
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
back office