Documentation, Settlement and Bookkeeping

The core competence of the back office is operational, involving transaction confirmation, settlements, reconciliation and payments, as well as maintaining records of new contracts, disbursements, payments, debt restructuring and on-lending. The typical responsibilities of the Back Office involve the confirmation of the transactions undertaken by the front office, the settlement of the transactions once they have been confirmed, the reconciliation of bank and custody accounts to ensure that they agree with the Back Office’s own records. Other Back Office functions may include the debt registration and management of the debt data base, administering loan documentation, and managing the relationships with fiscal agents (e.g. the central bank).