On-Site Supervision of Banks and Credit Institutions Department


 

Objective:
 

To ensure the safety, soundness and compliance of banks and credit institutions with laws, regulations and directives through on-site examination.


Main duties:

  1. To ensure the quality and accuracy of banks and credit institutions financial information.
  2. On-site examinations of banks, credit institutions head-offices and branches and as well the representative offices of foreign banks in Iran that have obtained a license from the Central Bank of the Islamic Republic of Iran, in order to ensure that their activities or operations are in compliance with the country's laws, regulations and directives, guidelines and circulars issued by the Central Bank of the Islamic Republic of Iran.
  3. Examination of risk derives from weakness of internal processes and the assessment of internal control of banks and credit institutions.
  4. Investigation the complaints received from natural and legal persons in respect of violations or non-compliance with the laws, regulations and directives of the Central Bank of the Islamic Republic of Iran by banks, credit institutions, branches and the representative offices of foreign banks in Iran.
  5. On-site supervision on a periodic as well as ad hoc basis of banks and credit institutions in order to identify the various risks with which they are faced.
  6. Carrying out the necessary actions for obtaining the needed data and information from the banks and credit institutions and verify the quality and accuracy of them through on-site examinations.
  7. Determining the degree of importance and impact of various risks and general assessment of banks and credit institutions through On-site examination.
  8. Preparation and accumulation of practical examination manual and required check lists for On-site supervision.
  9. Investigation and selection of appropriate procedures for the assessment of the various risks in banks and credit institutions.
  10.  Checking into, commenting and responding to letters received from the competent authorities in the framework of assigned duties.
  11. Performing of On-site Examination in General assessment of IT system, Determining of reliability of network security and used software in banks and credit institutions, identification of IT risk and finally Description of Early warning methods and dealing with the existing risks.
  12. Cooperation and collaboration with other internal supervisory departments about holding of joint meetings and consequently sending out the bank examiners to the central offices, branches, etc in order to checking the referential issues from those departments. 
  13. Assessment the quality of corporate governance of banks and credit institutions through On-site examination.
  14. Holding of meetings with the Board of directors, senior managers of banks and credit institutions in order to communicate the findings of performed examinations and also to discuss ways to resolve the banks' failures and insufficiencies in order to improve their performance.
  15.  Performing Supervision on virtual banks received their license from the central bank of the Islamic republic of Iran.
  16. Presenting the necessary reports to the relevant authorities and superiors in the central bank of the Islamic republic of Iran in order to improve the performance of related banks and credit institutions.
  17. Preparation and accumulation of practical Risk-Based examination manual and other related instructions.
  18. Cooperation and collaboration with Off-site supervision Department about prescribed corrective actions and following them up in banks and credit institutions. 
  19. Checking into, commenting and responding to letters received from the internal and external supervisory/non supervisory authorities in relation to the safety and soundness of banking system in Iran.
  20. Holding of meetings with the Board of directors, senior managers of banks and credit institutions in order to communicate and issue the result and findings of performed examinations and also to discuss ways to resolve the identified failures and insufficiencies.
  21. Attending in banks and credit institutions' assembly and Holding of meetings with their external audits in order to discuss the matters and obtaining the required information about the contents of audited financial statements.
  22. Performing other affairs in the framework of assigned duties and responsibilities.
Main relations:
 
  1. Banks and credit institutions' supervision department is under control of General Director of Banks and credit institutions' supervision and report to mentioned status.
  2. Communication with Banks, Credit institutions, Money and Credit Council, Auditing organization, Free Zone's Organization, and other related organizations in order to perform assigned duties and responsibilities.
  3. Communication with internal supervisory departments and other related departments of central bank of the Islamic republic of Iran.
  4. Communication with Banking supervision's entities and authorities of other countries.
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