Departments

The department analyzes the bank’s markets and customers, both individual and institutional, so as to expand the bank’s market share by detecting new potential customers and devise novel top-notch tailor-made services and products relatable to retail and commercial banking based on emerging issues. It also conducts researches and studies on the bank’s core businesses and functions. Data management, organizational restructuring, planning and offering proposals for enhancing efficiency, and bureaucratic process requirements are implemented in the department. The department has also set the roadmap for turning IVBB to fully digital bank or Bank as a Service (BaaS) in the foreseeable future.

The department manages mainly services such as issuing documentary credits and FX transactions, assessing local and international customers and businesses applying for loans or considering partnership in joint projects and ventures (capital budgeting).  It also takes care of expanding and developing international banking relations and partnership with international customers and counterparts. The department manages the duties of collecting non-current liabilities, managing relevant risks, easing the financial transactions of importers and exporters, cooperating with relevant external organizations, and handling the branch and affiliates’ affairs.

The department is responsible for internal affairs such as human resource management, employee welfare and training, IT infrastructure, data center management, logistics and internal arrangements. It manages the issues pertinent to core banking and developing digital banking services aiming at turning the bank into a fully digital bank. The department manages financial affairs including preparing financial reports of the bank, budgeting, investment management of the bank and cash flow, and also handles the effective maintenance of hardware and software systems. 

The department makes sure that the entire internal processes in the bank are carried out based on the relevant mandated rules and regulations and to achieve so it sets up efficacious controllers. It prepares auditing reports based on the daily business and functions of the bank and reports to the board of directors. It also provides data and reports to the independent auditors of the bank.

The department makes sure that the entire rules and regulations are observed in the bank’s business and functions. It is in charge of handling the complaints filed by the banks’ customers and beneficiaries. It closely inspects the other departments especially the branch of the bank for resolving inconveniences and problems. It also assesses the efficacy of the systems used by different departments of the bank.

The department promotes the brand of the bank and its activities in relevant settings. It is in charge of linking with other entities and financial institutions and participating at or holding occasional events and ceremonies for the bank. It works closely with media and reporters for reflecting the highlights of the bank through the mass media in Iran or other countries.

The department checks, in a timely manner and on a regular basis, the entire activities and functions of the bank to make sure they comply with the domestic and international AML and CFT principles. It makes sure the required set of software and hardware facilities are in place in order to check meticulously the activities and functions of the bank against the domestic and international AM and CFT principles. Before the bank launches new services or products, they need to be verified by this department. It reports the compliance status of the bank to the board and top management of the bank and also to the CBI consistently and regularly.

The department is in charge of resolving and settling the disputes and legal complications of the bank. It works closely with external legal entities as well on pertinent issues. The contracts the bank plans to enter into are assessed and perused carefully by this department to make sure they are not at odds with the relevant rules and regulations.

The department makes sure that the risk framework of the bank is observed by the employees and identifies and assesses potential risks the bank may face and proposes effective ways to mitigate and manage them. It utilizes domestic and international standards and tools such as Enterprise Risk Management (ERM) in managing risks. It categorizes the business lines of the bank based on its defined four lines of defense.

IVBB as the only bi-national bank in Iran enjoys the three levels of licenses for foreign currency transactions, deposits, and credit facilities in Iran. It is the only bank in Iran whose capital is in foreign currencies. The International Affairs Department works towards IVBB’s FX services for both Iranian and international companies and individuals. The services include credit facilities such as documentary credit facilities including LC, LG, documentary collections, FX transactions and cross-border payments. IVBB also has established correspondent banking relations with some of its international counterparts and facilitates FX services through these agents overseas.  


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