Back office executives are the backbone of the companies and organizations. They look after the duties that help and keep the company running. They deal with faxes, phone calls, and data entry tasks. One executive at least is appointed to perform human resource (HR) tasks. Back office is the place where back office executives work. Back office is generally located at other place than the headquarters. Sometimes back office work is outsourced to ones in outside countries and local consultants and contractors.
Traditionally, front office staff are the folks in contact with the consumers or clients, while the back-office staff are the people behind-the-scenes working in administrative or support roles. Of course, in modern businesses it’s a whole lot more complicated than that, and there is often some crossover and confusion over what constitutes a front office and back office role.
A back office job is where the tasks comprise of manufacturing or developing the product. Individuals who are involved in administration work are categorized under back office jobs. It is one of the essential parts of any organization and employees working for back-office jobs are often classified under ‘Operations’. The job role depends on the type of organization. A back-office job in a bank would rather differ from a job in a BPO.
Despite employee’s invisible presence, back office jobs enable front office individuals to perform their customer-facing duties efficiently. Back office personnel usually perform the administrative functions of a business. These can include data entry, Human Resources, Accounting etc.
There are many opportunities for candidates looking for back-office jobs and these can be categorized under different segments.
There are many types of back office job roles in different industries descriptions given below:
A back-office job in BPO industry offers responsibilities which directly affects the business. BPO either do business with business (B2B) or to customers (B2C). Moreover, Non-voice process in BPO deals with administrative work which includes preparing spreadsheets, creating reports or data entry in any software. The eligibility criterions for these kinds of job roles are a graduate candidate with good communication skills. Moreover, a candidate should be capable to provide customer service by providing resolutions to the queries and issues raised by customers.
Back office jobs in private companies vary from department to department. In most of the organizations, departments other than sales fall under this category. It includes direct marketing, online marketing, digital marketing, finance, operations etc. The advantage to working in a private sector is good starting salary and growth perspective within the organization. You can change your role and switch to other profiles within an organization.
In banks, major functionality areas in back office jobs are related to compiling information and other documents. Also, some responsibilities include obtaining credit records and collecting receipts and customer deposits. Moreover, managing of clients’ accounts is also one of the primary duties of the back-office employees. It also includes regulatory compliance, accounting, clearances, and IT services. The required level of education for these kinds of job roles vary but an individual who is applying should possess a bachelor degree. You may be an added advantage when you have a post-graduation degree too.
Three major fields of their work include accounting, operations architecture, and HR. They support the trading functions, such as trade settlement, record keeping, regulatory compliance, and trade confirmation, in investment firms. They help sales force in performing administrative duties in sales firm – marketing, legal, order management, finance, and operations support. Broadly, the back-office executives functioning in any company can be divided into five sections: processing, data management, market research, analysis, and accounting and finance. They work in several industries: healthcare, banking, analytical, market research, insurance, sales and marketing, and many such industries. The main role of back office executives remains to be in IT and technical sectors.
To work as a back-office executives, there are no prerequisites. But a bachelor’s degree will increase the scope. Other required talents include good communication, analytical, and organizational skills. Working from 3 to 5 years in this field will help them in promotion to higher positions like supervisors, managers, team leads, etc. Their salary ranges from as low as 8000 to 1,500,000.
Despite sniffy remarks from the front office, without these guys the business wouldn’t be able to run. Back office staff design the computer systems, maintain the databases, handle the company finances and seek out new talent. The front office depends on the support of the back office to function effectively. Some roles which were traditionally dismissed as the back-office are rising in prominence. Technical roles have developed beyond I.T. support, especially as investment banks now heavily rely on developing the latest technology.
Really, it depends on your career aspirations and what you want from a working environment. If you really want to work directly on the investment side of things for an investment bank, then a back-office role might not be the place to start. It might be less competitive to enter, but it doesn’t guarantee you access to front office roles. A few do work their way to the front office, but they are in the minority.
You might find that you’re better suited to a back-office role, where the slightly more relaxed environment will allow you to thrive. Others will only have their sights set on the cut and thrust of front office roles, particularly those who want client-facing jobs. It might be worth getting work experience in both areas to see where you fit in.
Many business school students from non-target colleges and universities see Back Office work as a way to gain experience within a firm and potentially network up into the Front Office roles. Though it varies from one firm to another, the work in the Back-Office roles is significantly different from the Front Office and, with the exception of corporate credit risk roles, may not provide a Front Office hopeful with the needed experience to make such a transition.
Front office executives and back office executives are both equally important for a company and their services go hand in hand. They need to work together as a team and complete projects on time. Working as a back-office executive will add creditable work experience to your resume.