▁internal ▁risk ▁control , ▁and ▁legal ▁risk ▁are ▁rest rained ▁to ▁internal ▁business ▁functions ▁including ▁firm ▁balance - sheet ▁risk ▁analysis ▁and ▁assigning ▁trad ing ▁cap ▁that ▁are ▁independent ▁of ▁client ▁needs , ▁even ▁though ▁these ▁groups ▁may ▁be ▁responsible ▁for ▁deal ▁appro val ▁that ▁directly ▁affect s ▁capital ▁market ▁activities . ▁▁ ▁In ternal ▁corpor ate ▁strategy ▁tack ling ▁firm ▁management ▁and ▁profit ▁strategy , ▁unlike ▁corpor ate ▁strategy ▁groups ▁that ▁advise ▁clients , ▁is ▁non - re venue ▁reg ener ating ▁yet ▁a ▁key ▁functional ▁role ▁within ▁invest ment ▁banks . ▁ ▁This ▁list ▁is ▁not ▁a ▁compreh ensive ▁summary ▁of ▁all ▁middle - office ▁functions ▁within ▁an ▁invest ment ▁bank , ▁as ▁specific ▁des ks ▁within ▁front ▁and ▁back ▁offices ▁may ▁particip ate ▁in ▁internal ▁functions . ▁ ▁Back ▁office ▁The ▁back ▁office ▁data - check s ▁tr ades ▁that ▁have ▁been ▁conducted , ▁ens uring ▁that ▁they ▁are ▁not ▁wrong , ▁and ▁trans act s ▁the ▁required ▁trans fers . ▁Many ▁banks ▁have ▁out s our ced ▁operations . ▁It ▁is , ▁however , ▁a ▁critical ▁part ▁of ▁the ▁bank . ▁ ▁Technology ▁Every ▁major ▁invest ment ▁bank ▁has ▁considerable ▁amounts ▁of ▁in - house ▁software , ▁created ▁by ▁the ▁technology ▁team , ▁who ▁are ▁also ▁responsible ▁for ▁technical ▁support . ▁Technology ▁has ▁changed ▁consider ably ▁in ▁the ▁last ▁few ▁years ▁as ▁more ▁sales ▁and ▁trad ing ▁des ks ▁are ▁using ▁electronic ▁trad ing . ▁Some ▁tr ades ▁are ▁initi ated ▁by ▁complex ▁algorithms ▁for ▁h ed ging ▁purposes