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CORRESPONDENT BANKING

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CORRESPONDENT BANKING
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International Relation Functions (Correspondent Banking Relationship) A comprehensive review of function and activities of International Relation Department

Department structure, Strategy, and Activities

  • Overall functions/activities of the department including each Unit/ section of the Department
  • Organization Structure of the Department and Job descriptions of staff
  • Department status in the Bank and reporting lines
  • Bank’s strategy on Treasury, International Banking, and investment activities.
  • The current network of correspondent banking relationships and its effectiveness
  • Addressing customers’ queries and complaints relating to the transactions conducted thru branches or other departments
  • Marketing efforts by the department of bank’s correspondent banking capabilities to other regional and international banks
  • Technical support to Treasury, risk management, and other functions to evaluate country and financial institutions risks
  • Other activities of the department

Review of existing policies and structure, mapping them with regulatory requirements and best practices standards, complete gap analysis, and provide our recommendations on:

  • Policies review and Update and Gap analysis repot
  • Changes in Organization structure and in functions/ activities of Sections / Units
  • Use of automated system wherever necessary and MIS reporting
  • Prioritize and assist to implement agreed recommendations with Actions
  • Correspondent Banking relationship for opening Vostro and Nostro accounts, Account opening checklist, AML questionnaire, record maintenance, Reporting to ALCO and Bank’s management
  • Bankers Almanac membership and update
  • Treasury deals to cover Fx transactions, daily exchange rates, and maintain liquidity
  • Liquidity Risk Management
  • International Murabaha placement, investment in Sukuk, Funds, and other means of investments to maximise the return for the Bank.
  • Arrangement of limits and credit lines/facilities from and to other financial institutions and countries for Acceptance and Placements, Trade Finance Business, investment and other transactions
  • Fx, investment, and other services to Bank’s individual and corporate clients.
  • Any other policy as required by regulation