In line with the domestic rules and regulations of the CBI and also corporate governance principles of Basel Committee, Risk Management Committee has been formed to professionally and meticulously develop and improve risk management procedures in IVBB. The members of this committee come from the core departments of the bank. The objectives this committee tries to reach include devising and offering efficient methods and procedures to manage diverse risks such as liquidity and credit risks and on a regular basis reports to the board management of the bank. The procedure this committee takes to manage potential risks IVBB is exposed to is as follows:
· Identify risks
· Analyze risks
· Evaluate or rank risks
· Treat risks
· Monitor and review risks
This committee sets effective policies to better and more efficiently manage assets, debts, and make efficient use of resources in high-yielding and profitable economic projects. It lays down the required foundation for better management of assets and liabilities of the bank such as efficient asset allocation and capital budgeting or capital structure.
Decisions related to issuing sight and deferred payment documentary credits, granting loans, performing local and international projects, using international banks’ lines of credit (financing and refinancing), granting credits to the international buyers of Iranian goods and products, and issuing domestic and international guarantees are all made by this committee.
This committee is in charge of making sure the entire financial transactions and processes of the bank and its clients are carried out in compliance with the international and domestic AML and CFT rules and regulations. The committee has regular meetings and oversees the bank operations in line with the CBI’s relevant principles and international standards.
This committee is responsible for supervising the activities pertaining to financial reporting, internal control system, and auditing and compliance processes and reassuring that all these activities are carried out well and in full.
This committee has been formed to expand the market share of the bank in both local and international markets and boost the level of services to the current and potential clients of the bank. It tries to set efficacious strategies to attract more individual and institutional clients to the bank and offer cutting-edge services to them.
This committee is formed to follow up on the issues related to debtors especially when they are in arrears with their payments. It tries to resolve the cases which are in default on their scheduled payments by offering new terms and agreements. All in all, it considers NPLs of the bank and suggests ways to the bank’s BOD on how the bank may collect them.
Strategies pertinent to the human resources of the bank are set by this committee. OJT, employee welfare, need analysis of human resources, non-payment compensation plans, and recruiting strategies are set through this committee.
This committee is responsible for upgrading the bank’s IT infrastructure and also offering full-fledged IT solutions to the bank’s services both on the employee’s side and clients’. It is the executive body of IVBB’s short, mid and long programs to turn into a fully digital bank. The committee considers joint cooperation with external fin-tech companies for the digitization process of the bank.