English to Lithuanian translations [PRO]
Bus/Financial - Economics | | English term or phrase: back office | | An investment bank is split into the so-called front office, middle office, and back office. |
| Irena RKudoZ activityQuestions: 36 ( 1 open) ( 1 closed without grading) Answers: 0
Lithuania
| Local time: 07:47
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| | Lithuanian translation:administracijos skyrius | Explanation:
Pagal šią apibrėžtį:
A back office is a part of most corporations where tasks dedicated to running the company itself take place. The term comes from the building layout of early companies where the front office would contain the sales and other customer-facing staff and the back office would be those manufacturing or developing the products or involved in administration but without being seen by customers.
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| Selected response from:
  Kristina Radziulyte
Lithuania
Local time: 07:47
| Grading comment | 4 KudoZ points were awarded for this answer |
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21 mins confidence: | mokėjimo ir atsiskaitymo sistemos
Explanation:
http://lt.wiktionary.org/wiki/back_office
back office (Mokėjimo ir atsiskaitymo sistemos) - the part of a firm that is responsible for post-trade activities. Depending upon the organisational structure of the firm, the back office can be a single department or multiple units (such as documentation, risk management, accounting or settlements). Some firms have combined a portion of these responsibilities usually found in the back office, particularly those related to risk management, into what they term a middle office function. See also front office.
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