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Functions of credit department in a bank?
The credit department's main function is to lend money. There are several roles and responsibilities that go along with this.
- Assessing the potential loss risk of the loan
- Developing and adhering to lending policies
- Understanding of lending laws
- Knowledge of in house lending procedures
- Analyze the financial condition of the borrower
- Securing collateral and guarantees
- Collecting proper documentation
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The service quality department in a bank serves as a the service maintenance and improvement team in the bank. This means, the department will run regular maintenance activiti…es / programmes in order to keep the current level of service quality. Also, the team will strive to continually improve the service level by introducing new and competitive service quality approaches to the company. In order to be able to create new service benchmarks, the department must perform market research on current customer service requirements and preference. This could be done through market intelligence (mystery shopper, to study the competitor and its current service standards) or through studies of consumer behaviour. Therefore, the service quality department, in essence, 1) maintains service quality, 2) conducts regular market research on service quality in the industry, 3) comes up with service improvement programmes, 4) and ensures that these programmes are effective towards contributing to the bottom line.
The functions of the credit control department include the effective and efficient control and collection of all income and debt management.
This department is the legal adviser to the bank,handles lawsuits, checking the credibility of security documents presented by customers .Generally it is the lawyer to the ban…k.
Foriegn Exchange department in a bank has following functions: EXPORTS * Pre-shipment Advances * Post-shipment Advances * Export Guarantees * Advising/Confirmi…ng Letter of Credit * Facilitating project exports * Bills for collection IMPORTS * Opening letters of credit * Advance bills * Import loans and guarantees. EXCHANGE DEALINGS * Rate computation * Nostro/Vostro Accounts * Forward contracts * Derivatives * Exchange position and cover operations REMITTANCES * Issue of DD, MT, TT etc. * Encashment of cheques, DD, MT, TT etc. * Issue and encashment of travelers' cheques * Sale and encashment of foreign currency notes * Non-resident deposits STATISTICS * Submission of returns * Collection of credit information
cash department role in bank
credit department handles the credit granting, credit collection and credit limits of their applicants
to control the bank position financially
Just like a retail company, banks have products or services that they sell to the public to gain profits or funds to operate the business and make loans. Therefore they …need a marketing department to produce brochures, radio, print or TV ads, and generally promote those products and services in the community. They may also organize events and sponsor local groups to raise awareness and increase loans, services and deposits.
What department of the government of India helping in banks in disbursement of rural credit by the banks?
1) Railway 2) State Road Transport 3) Posts & Telegraph 4) Ministry of health 5) None of these
1 .Corporation Banking Department 1.1 Studying and implementing financial policies and regulations; making the operating plans of the whole year 1.2 Making the developing and …marketing strategy; offering proposals and implementing decisions. 1.3 Establishing new rules and regulations of the department. 1.4 Designing, researching and popularizing products under the Financial Innovation Committee; coordinating relevant resource as a whole; designing service program. 1.5 Investigating, estimating, and supervising direct marketing; unifying authorized accounts; managing the loan business. 1.6 Evaluating the credit-grades of the bank accounts, and estimating their credit conditions and pay-bills abilities. 1.7 Guiding the assets and liabilities of the branch-banks; training client managers. 1.8 Reporting statistic statements, and analyzing relevant data. 2. Personal Banking Department 2.1 Managing and marketing personal-authorized accounts 2.2 Managing and marketing personal-deposit 2.3 Managing and marketing bank cards business 2.4 Managing and marketing intermediate business (except auditing business) 2.5 Managing and marketing online banking service 3. Small and Medial Business Department 3.1 Responsible for managing and marketing small and medial companies, legal personal loans 3.2 Responsible for investigating authorized business and managing loans; establishing assessment rules 3.3 Responsible for managing and marketing financial operations 4. International banking International department is in charge of the management and operation of foreign exchange business including marketing and operating of the financial products and trade financing of foreign exchange in the light of national foreign exchange management policy, and is the governing department of foreign exchange. The functions are as follows: 4.1 Establishing marketing strategy, policy and management system of foreign exchange. 4.2 Making annual operating and working plan. 4.3 Selecting and opening overseas account under supervision, and establishing and harmonizing the business among agent banks. 4.4 Corresponding and dealing with foreign exchange business among branches. 4.5 Showing business requirement of costumers and development of new products; publicizing foreign exchange business; training managers of customer-service for foreign exchange business. 4.6 Managing and operating foreign fund of the whole bank. 4.7 Making deposit and loan rate of each wholesale foreign exchange according to management and market situation of deposit and loan rate of foreign exchange, and making RMB exchange rate. 4.8 Focusing on direct marketing of VIP customers and overall plans to put all resources together so as to provide one-stop service. 4.9 Management and operation of international settlement (trade and non-trade settlement such as documentary credit, collection and remittance) and exchange settlement and sales. 4.10Examining and approving international business financing(RMB and foreign exchange packing loan, import & export bill purchase, foreign exchange bill discount, acceptance, documentary credit, stand-by L/C, international non-financing guarantee and so on) . 4.11 Auditing foreign exchange business. 4.12 Management and operation of researching credit, and consult and testimony business. 4.13 Managing turnover position of exchange settlement and sales. 4.14Declaring international balance, register foreign loans and manage foreign exchange account. 4.15Supervising wholesale foreign exchange deposit and payment to defend money laundering and bank swindle. 4.16 Managing and operating SWIFT system and foreign exchange system. 4.17Organizing international business research and statistic; establishing and improving foreign exchange files; making accounting report forms and business report forms. 4.18Regularly examining the executive results of all system of foreign exchange and renovate all the problems. 4.19 Contacting and corresponding with national foreign trade department, customs, industry governing department and foreign exchange department. 4.20Examining and approving the branches launching foreign exchange business, applying for new foreign business category to the People's Bank of China according to current foreign exchange policy. 5. Credit Business Department 5.1 Enforcing the State Policies, financial regulations, and credit rules of the bank 5.2 Framing credit policies and regulations; supervising the staff to execute orders 5.3 Putting forward the proposal of credit management and development; guiding and supervising the branch-banks to deal with credit business 5.4 Managing the authorized business; dealing with the legal affairs consulted and coordinated 5.5 Establishing development rules on credit; dealing with the acceptance draft; estimating the loaning accounts 5.6 Responsible for reporting the credit statistic statement 5.7 Responsible for training client managers 5.8 Responsible for dealing with other work according to the directors of the bank 5.9 Responsible for the credit-registered consulting system; regulating the five-graded loans 6. Account Servicing Department 6.1 In light of realty and long-term plan, improving service quantity with the spirit of striving and endearing; regulating service mode 6.2 Organizing the entertaining activities; making colorful activities to realize the customer-value maximization and make the customers to enjoy the comprehensive, amiable and professional service pleasure; strengthening the exchanges between the companies and the bank to realize the adding value 6.3 Managing 96588 call center; banking service is linked with the telephone network and the customers; enabling inquiry of financial information and financial transactions 6.4 Regulating internet banking service; at the same time of popularly applying the internet banking service, paying more attention to the online security in order to protect the security of customers' account. 6.5 Strengthening the staffs' cultivation to improve their quantity. Under the service ideology of comfortable and practical, optimizing the structure and mode of the training according to the reality of the bank 6.6 Attaching importance to the construction of the enterprise culture; on the principle of practical and concrete, making focus on building brand enterprise; catching opportunity to publicizing new products 6.7 Compiling the newspaper of bank such as sanzuding, jindingzixun, the development information of small enterprises. 6.8 Maintaining the web site; displacing and supplementing the information of the web site and adjusting to the layout and so on 7.Science and Technology Developing Department 7.1 Managing and supplying information-technology sustentation for the bank working system; Carrying out information supervising policies and restrictions established by government and supervisory institutes; working out the information management system and ensuring the function. 7.2 Working out the computer system and safety program, implementing and managing the programming 7.3 Working out the information construction budget for the bank and branches 7.4 Constructing, developing, and modifying information program, training the staff. 7.5 Supplying technique service for branches; solving out problem coming from terminals and the system 7.6 Managing the computer and electron equipments and software; purchasing or disposing information system equipments; updating system software 7.7 Protecting the bank's business network function; protecting the bank's official network function 7.8 Serving for the system information safety 8.Legal Service Department 8.1 Managing inner control system Managing the inner control process; organizing to create or modify the content of inner control system; updating the function of the system; ensuring all business transactions calculated by the system 8.2 Inner control assessing and evaluating, According to the assessing process of WFCCB, controlling and evaluating the service quality of branches 8.3 Controlling and supervising, Identifying and estimating the risk of business; supplying legal modification for new products and services 8.4 Protecting and disciplining, Creating protection and sanction system; supplying discipline suggestion 8.5 Risk inspecting and reporting, Collecting and analyzing business information, locating and evaluating the risk and giving managing suggestion to the top managers 9. Inner Auditing Department 9.1 Auditing in accordance with the demand of the President 9.2 Making the auditing plans; establishing relevant rules and regulations 9.3 Under the guidance of financial policies and commercial bank regulation, estimating and supervising the branches, segments 9.4 Taking the measures of supervising timely; applying computers and ensuring security; supervising all business and announcing timely the errors in order to make the work accurate, legal and integrate 9.5 Putting forward the proposal of innovation for violating regulations and rules; restraining and correcting the violations of regulations and rules 9.6 Attaching attention to constructing the verification team; establishing the professional training system so that improving the quantity 9.7 Reporting the verified results to broad of directors and broad of supervisors under the guidance of the broad of supervisors 9.8 Performing duties according to the demand of the President
The fees and interest on credit provide a bank with substantial income.
The sales department of the bank is responsible for improving the sales of the bank. They are responsible for reaching out to new/potential customers and canvassing them to op…en bank accounts or to apply for loans and other products like credit cards etc. If the sales department is not working efficiently, the bank may not be able to expand its customer base.
to handle out flows and in flows of cash from domestic or international territories. It supplies the cash to dear ones frome the dear ones from aboard
Dear Sir, To All, What are the function of Account Opening Department in bank, Please kindly write here to me,,,,
The functions of customer service in the bank is to handling the complaints, inquiries, creating a new client/customer's bank account, technical issue and incident report …such as lost/stolen card.
In basic terms they are emplyed to check out customers applying for loans (credit) and identify those who are likely not to be (a) able to make replyments. (b)default on t…heir loan agreement willfully i.e. take out a loan knowing that they are not intending repaying (c) identify those customers who apply for a loan and who are already exceeding their ability to pay. These are all risks to the banks money lending capability. The department will eith approve teh customer as safe (they can repay) or not safe and the loan or credit limits are revoked.