Departments of Commercial Bank of Ceylon Limited
Departmentation helps to ensure efficiency and specialization in an organization. It’s especially, pivotal when it comes to large organizations. If it were not for departmentation, the limitation on the number of subordinates that can be directly managed would have restricted the size of the organizations. Grouping activities and people into departments make it feasible to expand organizations. The following departments help Commercial Bank of Ceylon Limited run efficiently.
This department deals with the regular transactions. The cash section accepts deposits, receives/pays cash and deals with the clearinghouse. The remittance section deals with fixed deposit, draft, pay order, telegraphic transfer, account opening, retail foreign currency trade, etc.
This department deals with letter of credits for both import & export purposes. Its responsibilities also include bank guarantees.
This department, with its expertise in Trade Finance, Corporate Finance, Project Financing, Leasing, Factoring, Working Capital Financing and related services caters mainly to the banking needs of the multinational corporate clients and large to medium size domestic corporate customers. The Corporate Banking Division comprises of the Foreign Branch, the Corporate Finance Unit (CFU), the Off-Shore Banking Centre and the Bangladesh operations.
- Personal Banking Division.
The Personal Banking Division is responsible for the operation of the network of delivery channels, which caters mainly to the banking needs of personal customers, and small and medium enterprises.
vForex and Treasury
The responsibilities of the department include management of liquidity and exposure to market risk, mobilization of resources from domestic as well as international institutions and banks.
- Human Resources Department
The HRD is responsible for recruiting, training and retaining the workforce of Commercial Bank of Ceylon Ltd. It also deals with their compensation package. The department keeps track of the employees in order to evaluate their performance.
This department manages all the administrative chores related to the regular upkeep of Commercial Bank of Ceylon Ltd.. Moreover, its responsibilities include taking care of all the rental agreements, insurance, advertisement, notice publishing, etc.
The credit department looks after all the risk related issues of the bank and measures credit risk. This department provides the customers with the loan and keeps track of it to make sure the loan would be repaid.
This department is liable for preparing the financial statements and report Commercial Bank of Ceylon Ltd.’s financial performance during a period. It also prepares and manages the budget.
- Information Systems Department
Commercial Bank of Ceylon Ltd.’s Bangladesh operation is linked via satellite to Colombo. This department looks after that. It also handles the bank’s It based functions.
vAudit and Compliance
Internal auditing is the prime activity of this department. Periodically, this department audits the financial statements and makes sure that the Bangladesh Bank guidelines are properly followed. This department also assists the external auditors.
This department deals with measurement of risk of different organizations, projects and individuals and determining if a loan facility can be extended and if the return is fair enough for assuming the risk.