In banking, the phrase “back counter” usually refers to activities that are completed when a customer or member is not present.
Back-office staff at a bank or credit union encompasses all positions that are not customer-facing. These jobs on the operations side of a financial institution include a wide array of duties necessary to keep a bank functioning.
Bank due diligence refers to the steps that a financial institution takes to investigate, address, and/or minimize risk. Due diligence is performed in a wide variety of banking processes, such as underwriting, BSA, acquisitions, hiring, and vendor management.
Bank loan tickler tracking is a process that enables the timely follow-up of items that must be tracked throughout the life of both consumer and commercial loans.
Bank record retention requirements detail the mandatory minimum length that financial institutions must keep various documents.
The job description of a bank security officer could be broad—and has changed over time. Fifty years ago, a bank security officer’s main responsibilities centered on the physical safety of the financial institution’s employees, customers, and facilities.
Banking exams are conducted by both the Federal Deposit Insurance Corporation (FDIC) and state-level organizations to evaluate the practices of financial institutions.
Banks utilize a variety of management systems to ensure smooth operations and maintain compliance.
Barcode scanning is a method of using barcodes to identify what a document is and where it belongs in a file. When properly utilized, barcodes can streamline a bank’s document management workflow and reduce the likelihood of documents being inserted into the wrong file.
Some loan origination systems (LOS) make it possible to generate loan documents with embedded barcodes. Barcodes can contain a variety of information, such as account number and document type, which could be useful for expediting a financial institution’s loan document management workflow.
Batch scanning is the process of scanning more than one document in a single action. For example, a lender might use batch scanning to quickly digitize an entire loan file for a customer.
Bill pay refers to a service offered by banks, credit unions, and other financial institutions that allows account holders to pay their bills electronically through their institution’s website or mobile app.