Salary.sg Forums - View Single Post - Career prospect/advancement for Banking sales roles vs Banking "back end" roles
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Old 31-12-2016, 02:59 PM
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Originally Posted by Unregistered View Post
the things you learn from uni does not actually be put to much of a use
^this is 100% true, even aunties are working there, it's a job that doesn't require prior banking n finance knowledge

The biggest thing you'll learn there is a deeper understanding of back office functions. For example, it's everything that happens between a trader hitting "buy" or "sell" (figuratively, not literally) to the actual transaction taking place. E.g. what instrument, clearing houses, settlement rules and timing, counterparty and counterparty risk, monitoring of positions etc.

Most of the stuff is usually automated, so apart from monitoring these trades that settle just fine, your main role would be to pick up the exceptions and clear them. E.g. money transferring into the wrong account, mismatched dollar amounts, or any potential trades that get highlighted as per the automated rules.

It wouldn't help a single bit to prepare you for front office work, but there's a lot more to it than "back office" than just those 2 words.
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