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Bank and Brokerage Operations

Bank and brokerage back office operations encompass a variety of critical functions involved with the movement of cash and securities among firms and clients pursuant to industry rules, along with the associated record keeping. These functions are the backbone of the financial services industry. Experience in these areas can open up further financial career opportunities.

Broker Sales Assistant
Broker sales assistants act as liaisons between financial advisors and operations, taking the lead in troubleshooting for clients. An operations background thus can open up opportunities to become a sales assistant.

Brokerage Operations
Brokerage operations involves settling trades, by delivering payment and securities on time to the right parties, while also keeping client records in order, as well as the books of the firm.

Branch Operations Manager
Keeping the infrastructure of a brokerage office in smooth running order is the job of a branch operations manager. A generally synonymous title is branch service manager.

Business Continuity
Hurricane Sandy exposed key gaps in the business continuity plans of many leading financial services firms. Here is a primer on the concept of contingency and continuity planning.

Form 1099
Brokerage firms are notorious for problems in getting finalized copies to clients in a timely fashion during tax season.

Margin
Margin is the function that manages the extension of loans to investors for the purchase of securities. It frequently is an important profit center for a securities brokerage firm.

Mutual Funds Accounting
One of the core functions in mutual funds operations is mutual funds accounting, which involves portfolio valuation and client record keeping.

Operations Consulting
Here are case studies in the types of issues that operations personnel face in financial services firms, especially those that have grown through mergers and those that regularly interface with other financial services providers.

Stock Loan and Securities Lending
Stock loan is the function that manages the lending of securities to settle trades made by short sellers. The stock loan function typically is an important source of profits for a securities brokerage firm.

Who is S. Larson?
For many years, holders of Citibank credit cards have received letters signed "S. Larson" but all attempts to locate this person have failed. Is he or she fact or fiction?

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