The back office jobs in Mumbai is the most important work for the companies and the organizations. A person who is involved in the functioning of the administration and support is known as back office executive. The person has to carry out all the settlements, records, and the accounting also. Back office work is the most important work of the company. It needs a lot of attention to complete this type of work. But the positive factors are that the worker should not have a high qualification to do this type of job. The word ‘Back office’ originates from the layout of the early corporations where the main work is of a front office that contains the sales. The job of back office is a very responsible job and should be done with proper attention and loyalty.
Back office jobs are required a lot and the companies provide a handsome salary to their employees. There are so many companies in Mumbai, so the job opportunities are very high in these cities. Metro Politian cities are costlier also from all cities, so the living standard in these types of cities needs a huge amount of money to survive. Back office jobs can be a part time also. Part time jobs are those jobs which are done in spare time to earn some money. Part time jobs can be done by students also besides the studies.
The important responsibilities of the back office personnel have three chief areas of risk, reward, and reputation which are discussed below:
Reputation: The organization always needs to guard its repute in the marketplace. The market is very competitive. There are so many companies in the market. It has become very difficult to differ itself from others. So the work of the back office should be very perfect otherwise the reputation of the company will be destroyed. The back office work of the company should be very efficient and effective to maintain the dignity of the company in the market.
Risk: Risk managing is very essential in today’s world. Risk should be appropriately managed which can lead the reputation of the company.
Reward: The job does not generate money but it requires a lot of proper attention. It can effortlessly dissipate income with the help of front office. Basically back office roles falls into 2 phases which are:
- Physical Settlement
- Post Settlement
Physical Settlement: It covers out a chain of tasks with regard to all the dealings. The transaction which is taking place from the front office such as treasury, corporate finance, capital markets etc.
Post Settlement: It involves numerous responsibilities which are related to payment or process, for example account maintenance and its confirmations. The overall responsibilities are of the back office executives and the back office managers.
The back office manager or back office executive has to perform the following tasks in a very careful manner:
- Input processing
- Cash Management
- P&L Revaluation
There are so many of the challenges which a back office manager of back office executive has to face out. There is a wide reach of the back – scope operator, there is a pressing want to unite and reorganize these huge operations. Managers are remunerated for cost management and for service efficiency also.
Basically, this is the job of responsibility and proper attention. One needs a lot of care to do this work. The work of back office should be done in a proper manner without facing any risk. It is a risky job also. All the process is handled by the individual person in the back office. There may be a lot of work load on the back office executive because he has to handle all the work in a good manner without doing any mistake or improper work.
Back office work is required in every type of the companies which may be related to private sector or may be of the government sector. Back office work is very much demand in banks. In banks there is a lot of back office work which is handled by the back office executives. The work of back office may be done at home or in the office. The complex and the operational redundancy are rampant in the environment of the back office.