Financial Career Track #4: Operations

Posted on by aleksandra


Have you ever wondered who enables banks to function effectively and efficiently? This week we’ll introduce you to the financial division often labelled as ‘the engine of the bank’ – Operations. The article will answer the following questions:


What does working in Operations entail?

What roles can you find in Operations?

What skills are required for a role in Operations?

What salary can you expect to have as an Operations employee?

What would you be doing as a Graduate in Operations?



What does working in Operations entail?


Operations employees form the backbone of every bank. They are part of the ‘back office’, which administers a supporting role for the ‘front office’. The trades made by the front office divisions of the bank are controlled and managed by Operations. Banks are coming to recognise more and more that part of their competitive advantage lies in their operational excellence. Clients will be willing to work with a bank that is backed up with a solid and trustworthy framework.



What roles can you find in Operations?


The basic work that an Operations employee has to fulfil is clearing and settling trades. When clearing trades, an employee is required to ensure that the bank records of the sale of a financial product is the same as the records held by the bank or organisation that the product was sold to. When settling trades, an employee is in charge of processing and controlling transactions.


However, within Operations there are numerous roles; therefore, it is necessary to delineate the main areas in order to have a good idea of what you could be doing as an Operations employee.


Trade Processing & Support – you would be in charge of making sure each bank transaction is fully completed, that funds are subsequently cleared, and that the ownership of each transaction is confirmed. You would also be required to answer any questions a trader may have.


Operations Control – it would be your responsibility to ensure communication between all banking divisions is effective and efficient. As an Operations Control employee, you would also be required to observe the functioning of IT systems in order to measure and report any operational risks.


Client Services – within client services, you would be expected to speak directly with clients in regards to issues such as resolving transaction settlements, providing advice as well as keeping them up to date…



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