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Operational investment banker: Job description and activities

Job description

The operations division of an investment bank is often described as the 'engine room' of a banking or investment banking organisation.

Operations (previously known as 'back office') provide support to the trading front office and ensure that business activities are carried out in an efficient, controlled, risk-free and timely manner.

Operations includes areas such as human resources and public relations, but, in terms of its core business, the role of operations is to make sure that the relevant administration is carried out once a trade has been completed and to ensure that the money has been received. Operations professionals manage day-to-day processes and develop new systems in order to maximise efficiency and profitability for the bank. They deal with all incoming queries from clients, resolve incorrect payments and ensure that client details are correct for the payment of funds.

Typical work activities

Operations covers a wide range of activities. Following the buying and selling of financial products by the bank’s traders, operations staff make sure that each transaction is:

• cleared (funds and financial products moving between buyer and seller);
• settled (confirmation of ownership) smoothly and accurately.

The structure of departments varies from bank to bank, but tasks typically involve:

• managing the processes to clear and settle transactions;
• reconciling systems by checking that the data flows from the revenue-generating front office to the operations systems (operations control);
• monitoring the activity and reports of daily transactions;
• troubleshooting systems problems;
• managing projects: analysing a system, identifying and specifying developments and improvements and coordinating the testing and implementation of new systems;
• acting as an interface with other divisions of the bank, e.g. liaising with traders, ensuring all issues are resolved in an extremely timely and efficient manner;
• investigating breaks in the cash account within an investment bank;
• organising team meetings, managing team members, responsibility for individual and team appraisals;
• being involved in recruiting and training new team members;
• dealing with all client queries received by the bank;
• having sole responsibility for handling specific clients;
• liaising with clients regarding transaction settlements, as and when required;
• ensuring that client protection rules are adhered to.

AGCAS

Written by Myrto Kalle, London School of Economics and Political Science

Last updated:

May 2008

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