Answer to Question #264145 in Finance for Kajal

Question

The organization structure of a Bank’s Treasury unit involves designing of its operations across Front office, Mid-office, and Back office. Describe each of these three operating arms in terms of its nature, purpose / objectives, and the skills / qualifications of the people employed in these 3 operating arms

Answer 1

Front Office is scheduled for guest services, guest history records creation, settlement as well as guest account maintenance.

Mid-office supports front office through initiated transactions that have been negotiated through a front office personnel in ensuring transactions are effective.

The Back-office assists in record maintenance, accounting, IT services, regulatory compliance, clearances and settlements.