what does a back office manager do?
The back office covers a set of tasks related to supporting, controlling and managing a company’s operations. This support function, also called the post trade service, is particularly prominent in activities linked to the stock market. As a back office manager in banking, you work within a bank, a financial institution, an investment or stockbroking firm, a consultancy, or a wealth management company.
what is your mission as a back office manager?
You collaborate with front office professionals who are responsible for revenue generating activities. You also work with middle office staff who provide support to commercial activities. The core of your role is the organisation’s administrative management. You process banking and accounting operations through data entry and coding. You set up client projects initiated by the front office, such as loan files, inheritance cases, debt recovery, and the purchase and sale of securities. You also carry out control tasks, such as checking the compliance of automated banking movements, for example transfers and direct debits. Managing litigation is also part of your responsibilities. You handle procedures and take over from support and customer service to respond to client complaints.
Does working as a banking back office manager match your appetite for rigour, organisation, accounting and figures? Discover which skills and qualifications you need to become a banking back office manager.
explore our vacanciesaverage salary for a back office manager.
The gross monthly salary of a back office manager ranges between €3,600 and €5,500 gross per month.
In Luxembourg, a back office manager’s salary depends on several factors, such as experience, responsibilities and the business sector.
which factors determine salary in a back office manager role?
A back office manager’s salary may vary according to the financial institution, the size of the structure, or its market. Your previous experience also weighs in salary negotiations during recruitment. Your employer may adjust your salary depending on the location of your position. As there is no direct customer contact, back office roles are often relocated to regions where commercial property prices are lower. Your salary may also evolve in line with the company’s financial results, including bonuses, gift vouchers, and a thirteenth month payment.
types of back office manager roles.
There are different types of back office manager roles in banking, such as:
- securitisation, projects, commodities, syndicated loans, and file entry
- securities tax specialist, responsible for producing regulatory tax information for clients and the tax authorities
- archiving officer, responsible for processing technical documentation within an electronic document management system
- corporate finance administrator, responsible for operations within software suites and other internal management tools
- mortgage credit operator, responsible for managing the life cycle of mortgage credit contracts
working as a back office manager.
Your activity is part of the back office, a family of roles that is independent of the professionals responsible for sales and transaction origination. You work under the supervision of a team leader to whom you report all necessary information. Learn more about the day to day work of a banking back office manager, working time arrangements and career prospects.
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tasks and responsibilities
In retail banking, you oversee the processing of transactions and commercial operations to ensure proper execution:
- recording and compliance checking of operations
- verification of reporting and disclosure obligations
- conducting audits and monitoring operational control
- payroll, invoicing and IT service administration tasks
- processing banking and accounting operations
- checking incoming payments
- carrying out administrative follow up related to your organisation’s activity
- managing contract life cycles and monitoring due dates
- initiating debt recovery and litigation procedures
- handling various client complaints
- managing clients’ inheritance files
- handling the purchase and sale of securities
- contacting clients to inform them about the processing of their operations
- control activity and alerts in case of incidents
- regulatory reporting and audit work
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working environment
As a banking back office manager, you work in an office or remotely, without face to face contact with clients. You may, however, be in direct contact with clients in after sales and technical commercial services.
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who are your colleagues?
Depending on your employer, your colleagues may include accountants, middle office fraud advisers and back office assistants. You may also work with sales teams and other specialists, such as experts in specific financial products.
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work organisation
You benefit from standard weekday office hours, with limited dependence on customer footfall. Companies generally recruit managers on fixed term contracts, CDD, or permanent contracts, CDI, and sometimes on a temporary basis for specific assignments. Working hours may vary depending on the organisation. Part time arrangements may be possible depending on your profile or experience within the company. Some periods of the year require additional work that calls for overtime.
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career prospects
Technological and organisational changes in banking, including online banks and neobanks, are transforming the back office manager role. Institutions are looking for increasingly skilled profiles. One possible progression is to become a specialist in a particular financial product or banking operation. If you are seeking more client contact, you could move into a client adviser position. Another option, which requires advanced experience, is to move into a management role, for example back office team leader or head of banking accounting. In time, you may also consider becoming head of department.
getting a back office manager role with randstad.
When you search for your banking back office manager role with Randstad, you benefit from attractive advantages, such as:
- a wide variety of companies to work in and development opportunities
- an experienced point of contact to support you when needed
- a broad range of opportunities in your sector
- weekly or monthly pay depending on the assignment
- permanent contracts, CDI, fixed term contracts, CDD, and temporary assignments
Would you like to be hired on a CDI, permanent contract? In many cases, working in a temporary assignment as a banking back office manager is a first step and acts as a springboard to obtaining a permanent contract. Many companies also recruit employees on a CDI via Randstad.
education and skills.
To become a back office manager in banking in Luxembourg, it is essential to acquire the specialist skills and knowledge required to manage administrative and operational tasks that support banking activities effectively. The back office manager plays a crucial role in ensuring that behind the scenes banking processes run smoothly. The following are the types of diplomas and certificates required to become a banking back office manager in Luxembourg:
- Degree in finance or economics, one of the main pathways is to obtain a degree in finance or economics. This degree is generally awarded by universities or business schools and provides a strong foundation in financial management, economic analysis and risk management, which are essential skills in the banking sector.
- Certificate in banking management, a banking management certificate is a viable option to access a back office manager role. This certification is often offered by financial institutions and specialist training bodies. It focuses on skills related to banking operations, regulatory compliance and transaction management.
- Training in banking law and regulation, knowledge of banking law and financial regulation is crucial for back office work in a bank. Additional training in banking law, financial regulation and anti money laundering can be an asset for back office managers.
- Data management skills and financial software, a banking back office manager must master the tools and financial software used in processing transactions and managing data. A solid understanding of banking operations systems and the specific software used in the back office is essential.
The back office operator profession is accessible with a bac plus two level diploma in business, management or banking. It should be noted, however, that the role has become highly specialised in recent years. Candidates are now advised to obtain a professional bachelor’s degree.
know how and competencies.
As a banking back office manager, you have a particular affinity for administration and management:
- knowledge of procedures used within your organisation
- strong organisational skills
- mastery of financial operations and transactions
- proficiency with IT tools and legal frameworks in the banking field
- solid skills in accounting and taxation
- in depth knowledge of legal areas such as commercial law, contract law and insurance
- analytical skills and problem solving, the ability to analyse data, detect potential errors and resolve issues proactively is essential, analytical skills and attention to detail are therefore highly sought after for this role
- people management skills to supervise colleagues effectively if your role includes team leadership
- interpersonal skills and diplomacy to work with a range of stakeholders, including sales teams and sometimes clients
- ease with teamwork
- ability to remain calm and analytical in urgent or conflict situations
- strong command of English in an increasingly international sector
FAQs.
FAQs about the banking back office manager profession:
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what is the difference between the back office and the front office?
The terms back office and front office are very common in banking. The back office includes all roles that are not in direct contact with clients, such as administrative and logistics functions. Front office roles are characterised by direct client contact, such as sales, customer support and after sales service. These roles are also more directly responsible for the company’s image.
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how does the back office differ from the middle office?
Back office managers have the critical responsibility of ensuring that the company actually delivers the services promised to clients. They work to improve the organisation’s performance and the fluidity of processes. Middle office teams are responsible for monitoring transactions and optimising the link between the back and front office.
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what are the advantages of becoming a back office manager in banking?
Back office management is a very important activity for the banking sector, which is actively recruiting. There are wide career development prospects and many opportunities. This position also offers the chance to gain a broad understanding of the financial world.
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how can a company optimise its back office management?
To optimise back office processes, you should first ensure a smooth client journey to avoid sources of frustration that could harm the company’s image. Many tasks can be automated by implementing RPA, Robotic Process Automation. Management plays an important role, choosing the right leaders is essential for an efficient back office. Finally, defining relevant key performance indicators and maintaining stringent quality control are indispensable.
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does the banking back office manager role require strong IT skills?
The constant evolution of technologies in the banking sector requires you to understand and master the various IT tools available. In particular, you should be comfortable with the use of ERPs, enterprise resource planning systems, for production. You will also have advanced knowledge of CRM tools, customer relationship management, for client management, and business intelligence for analytical work.
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how do you apply for a banking back office manager role?
Applying is straightforward, create a Randstad account and browse the vacancies in your sector, then send us your CV and cover letter.
