Module 8

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL
THE MIDDLE OFFICE MODULE 8

READING. Read the job posting. Then, choose the correct answers.
Excel Investments
Financial Controller
Excel Investments is a leader in Investment banking for both
corporations and wealthy individuals. We are currently seeking a senior
financial controller for our middle office.
The financial controller supervises a team of eight accounting
professionals and manages the middle offices day-to-day operations.
The position reports directly to Excel Investments CFO. The financial
controller oversees all risk management. The ideal candidate will have
demonstrated success in quickly analyzing market risk and credit risk
undertaken by front office traders. Of course, Excel Investments is not a
conservative firm. We are known for our aggressive approach to
investing. As such, limits on capital set by the financial controller
should manage operational risk without restricting bold action. The
controller is also responsible for meeting with bank office
representatives regularly. These meetings will ensure that front office
trades are in compliance with internal and government regulations.
Salary is commensurate with experience. Interested parties should
send
a
CV,
references,
and
cover
letter
to
[email protected].
1. What is true of the financial controller position?

a) It creates internal regulations.
b) It directs the actions of the CFO.
c) It involves supervising others.
d) It meets with government representatives
2. Which of the following is NOT a responsibility of the controller?

a) Limiting capital
b) Analyzing credit risk
c) Managing operational risk
d) Ensuring back office compliance
3. What can you infer about the person who will be hired for the
job?
a) He or she will have experience as a CFO.
b) His or her salary will depend on former jobs.
c) He or she will have a conservative investment approach.
d) His or her investments must be held with Excel Investments
VOCABULARY. Match the words (1-7) with the definitions (A-G).

1.
2.
3.
4.
_____ middle office

_____ financial controller
_____ commensurate
_____ capital
5. _____ credit risk

6. _____ market risk
7. _____ bold
a)
b)
c)
d)
e)
f)
g)
An employee that monitors financial resources

Being related to something in size or degree
Uncertainty caused by changes in the price of securities
The part of a company that manages risk
Uncertainty caused by borrowers potentially not paying debts
Money used to finance a business
Being confident even in risky situations
VOCABULARY REVIEW. Read the sentences pair. Choose where the

words best fit the blanks.
1. CV / CFO
A. Bring your _______________ to the interview.
B. Mr. Ales is our _______________.
2. limits / compliance
A. All trades are in _______________ with regulations.
B. The financial controller sets capital _______________.
3. risk management / operational risk
A. Every business has some dorm of _______________.
B. Good _______________ can prevent large financial losses.
LISTENING. Listen to a conversation between an applicant and an
interviewer. Mark the following statements as true (T) or false (F).
1. ____ The man was the head financial controller at his last job.
2. ____ The man was experience making risk management decisions.
3. ____ The mans former organization was conservative.
WRITING & SPEAKING. Imagine you are an interviewer and your
partner a job applicant. Write a conversation and talk about last
position at work, methods of assessing risk, time to assess risk, and
your experience. Then, record your conversation and send it to your
tutor. Use these expressions:
a) Lets start with your most recent position.
b) I was involved in
c) How did you assess that risk?
SPEAKING. Answer and practice these questions for your oral exam.
1. What are some risks involved in investment banking?
_______________________________________________________
2. Which employees decide how much risk a company should take?
_______________________________________________________
WRITING. Use the conversation from the listening to fill out the
interviewers notes.
Interview Notes
Applicant name: ____________________________
Former position: ___________________________

Responsibilities: ___________________________
__________________________________________
THE BACK OFFICE

READING. Read the office memo. Then, mark the following statements
as true (T) or false (F).
From: Charles Durning

To: All Bank Office Staff
Excel Investments
Staff MEMO
Hello all. I have several updates and reminders for you after my meeting
with our VEO, Mr. Franklin.
Operations: First, we have a new update for our data-checking

software. Its a state-of-the-art program that should clear and settle
trades much faster. But until the software is installed, continue checking
trade confirmations as usual.
Information Technology: IT will be in charge of installing the new

software. In addition, tech support will hold training sessions with front
and back office staff. They will explain how to use the software and its
benefits.
Compliance: Mr. Franklin expressed a concern about compliance

issues. Hed like us to doubles our meeting with traders in order to avoid
any legal problems. We were recently investigated. Although no illegal
actions were found, Mr. Franklin does not want this to happen again.
If you have any questions, send an email or see me in my office.
Charles Durning, Manager, Back Office.
1. ____ The company is installing new trade confirmation software.

2. ____ Tech support must meet with front office staff to check
compliance.
3. ____ The company was recently fined for an illegal action.
VOCABULARY. Match the words with the definitions.

1.
2.
3.
4.
____ trade
____ update
____ settle
____ back office
5. ____ tech support

6. ____ state-of-the-art
7. ____ data-checking
a) To get the most recent

b) The act of making an exchange
c) Assistance with technology
d) Being the most modern
e) Administrative section of bank
f) To pay to complete a transaction
g) The process of ensuring information is correct
VOCABULARY REVIEW. Fill in the blanks with the correct words and
phrases from the word bank.
operations
software
clear
information technology
trade confirmation
1. The ______________ department maintains computers.
2. Back office employees must ______________ every trade.
3. Dont use the computer until the new ______________ is installed.
4. Back office ______________ include date checking and maintaining
computers.
5. A trade is not final until the ______________ is finished.
LISTENING. Listen to a conversation between a bank office and an IT

employee. Choose the correct answers.
1. What is the woman concerned about?
a) A confusing training session
b) A shortage of IT employees
c) An expensive software update
d) An error with software installation
2. What suggestion does the man make?
a) Reinstall the update.
b) Delay the training.
c) Hire more employees.
d) Purchase new software.
WRITING & SPEAKING. Imagine you are an IT employee and your

partner a manager. Write a conversation and talk about an update,
training, scheduling and the details of a memo. Then, record your
conversation and send it to your tutor. Use these expressions:
A. Well, it says
B. Its a good idea
1. How have computers changed how people make investments?
_______________________________________________________
2. What jobs and careers involve maintaining computers and computer
systems?
_______________________________________________________
WRITING. Use the conversation from the listening to fill out the new
memo.
MEMO
To:
All Back Office Employees
Subject:
Software update and training Changes
Department to be trained: ____________________

__________________________________________
Department conducting training: _____________
__________________________________________
Scheduling: _______________________________
__________________________________________
REGULATION
READING. Read the newspaper article. Then, choose the correct
answers.
BMP Hit with Investigation

A front office employee at BMP Finance Corporation, a leading
investment company, is under investigation for insider trading. Many
investors are currently questioning BMPs reliability due to these
allegations. According to the ongoing investigation, an employee at BMP
Finance provided insider information to a competing investment
company. The BMP employee may have received monetary benefits in
the quid pro quo arrangement.
The lead material witness is an employee at the competing investment
corporation. This witness claims the BMP employee delivered nonpublic information in confidence on March 1. The witness agreed to
testify in the upcoming trial. BMP Finance denies having any knowledge
of a breach in their strict regulation policies. However, if the company
was aware that the employee violated the law, it would face serious
penalties.
The fiduciary of BMP Finance will issue a public statement regarding
the corporations standings this coming Monday. Financial investigators
are advising investors to avoid BMP Finance until the issue is officially
resolved.
1. What is the article mainly about?

a) The results of a trial
b) A companys financial condition
c) The new rules on insider information
d) A crime that may have been committed
2. What is true of the suspect?

a) He agreed to testify in the trial.
b) He was employed as a fiduciary.
c) He took information from a competitor.
d) He worked for BMP finance Corporation.
3. What do investigators recommend investors do?
a) Not invest with BMP until further notice
b) Review investment regulations
c) Stop sharing insider information
d) Check account for suspicious activity
VOCABULARY REVIEW. Read the sentences pair. Choose where the

words best fit the blanks.
1. insider trading / insider information
A. The man was arrested for _______________.
B. Never share _______________.
2. investigation / regulation
A. What _______________ did she break?
B. The _______________ found the man was innocent.
3. non-public / quid pro quo
A. The information is _______________ and must not be told to
anyone outside the company.
B. In a _______________ deal, both parties benefit.
LISTENING. Listen to a conversation between two lawyers. Mark the

following statements as true (T) or false (F).
1. ____ The woman thinks the suspect acted alone.
2. ____ The suspect had access to trade information.
3. ____ BMP was going to take over another company.
WRITING & SPEAKING. Imagine you and your friend are lawyers.
Write a conversation and talk about an insider trading investigation, if
the suspect had help and the information that was shared. Then,
record your conversation and send it to your tutor. Use these
expressions:
a) Are you sure
b) But thats not the only
c) S/he also had
1. Is insider trading a problem in your country?
_______________________________________________________
2. What rules prevent insider trading?
_______________________________________________________
WRITING. Use the conversation from the listening to fill out the
lawyers summary.
BMP Finance Corporation
Investigation Notes
Information shared: ____________________
_____________________________________
Information suspect had access to:
_____________________________________
_____________________________________
Information suspect did not have access to:
_____________________________________
_____________________________________

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GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

THE MIDDLE OFFICE MODULE 8

1. What is true of the financial controller position?

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

2. Which of the following is NOT a responsibility of the controller?

VOCABULARY. Match the words (1-7) with the definitions (A-G).

_____ middle office

5. _____ credit risk

An employee that monitors financial resources

VOCABULARY REVIEW. Read the sentences pair. Choose where the

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

Former position: ___________________________

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

THE BACK OFFICE

From: Charles Durning

Operations: First, we have a new update for our data-checking

Information Technology: IT will be in charge of installing the new

Compliance: Mr. Franklin expressed a concern about compliance

1. ____ The company is installing new trade confirmation software.

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

VOCABULARY. Match the words with the definitions.

5. ____ tech support

a) To get the most recent

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

LISTENING. Listen to a conversation between a bank office and an IT

WRITING & SPEAKING. Imagine you are an IT employee and your

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

All Back Office Employees

Software update and training Changes

Department to be trained: ____________________

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

BMP Hit with Investigation

1. What is the article mainly about?

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

2. What is true of the suspect?

VOCABULARY REVIEW. Read the sentences pair. Choose where the

LISTENING. Listen to a conversation between two lawyers. Mark the

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

GLOBAL BUSINESS ADMINISTRATION CONSOLIDATED LEVEL

BMP Finance Corporation

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