Operations

Support the running of banking, and investment organisations and process transactions, all while ensuring greater efficiency.

The operations department, also informally known as the “back office”, supports a firm’s revenuegenerating departments by ensuring business activities are performed smoothly, successfully and efficiently. It oversees the entire life cycle of a transaction, from initial preparations such as booking trades for traders, to posttrade processes in settlements.

While it does not actively generate revenue, this area of work is key for business profitability through managing risk and minimising loss.

Securities operations, for example, are responsible for ensuring that desks in linked markets have enough capability to communicate with each other. On the other hand, the risk function is in charge of ensuring that the company’s internal processes comply with regulatory guidelines.

General overview

Most graduates start in a training programme before being assigned to an experienced analyst for mentoring and more on-the-job training. Work in the early stages can include introducing a new product or improving a control.

Advancements in technology do not just enable companies to trade across multiple product areas and regions, and increase the volume and speed of processes; it has also allowed them to transact instantly. However, the sheer volume and extreme time sensitivity of transactions means that work can be challenging.

Required skills

Excellent numeracy and analytical skills are needed for assessing and analysing transaction cycles, as well as generating contingency plans. A keen eye for detail and foresight to spot potential problems before they happen, along with exemplar communication and listening skills for interacting with numerous internal and external parties, are also valued.

Keeping up with the latest developments in the financial services industry, such as regulatory changes and technological innovations, is vital. Because this line of work relies heavily on emerging technologies, learning quickly on-the-job and staying flexible in decisionmaking and scheduling are also crucial.

Pros and cons

Troubleshooting problems even before they happen keeps professionals on their toes. Many firms also encourage selfimprovement among operations staff, with plenty of opportunities to forward their ideas for the enhancement of certain controls of the company and department.

However, on the other hand, there is the chance these ideas may not be actively implemented.