Central Operations Functions

CBD Central Operations plans and manages the operational and processing support necessary to comply with the Bank's procedural and compliance requirements ensuring fast and efficient transactions to deliver excellent service to the Bank's customers.

Central Operations is segmented into a number of different units, as follows:

• Account Service
• Remittance
• Loan & bills discounting
• Clearing & Collections
• Payroll & Payments
• Treasury & Investment back office
• Cash management services back office.

Administration

CBD Administration is involved in the planning and implementing of various services related to the Bank's property management, office premises, maintenance of buildings infrastructure and office maintenance. All this is managed to strict cost budgets, statutory compliance requirements and CBD's policies.

Compliance & Anti Money Laundering

As the corporate world is changing, many incidents have threatened its credibility and safety, introducing more stringent regulation has become a must. In order to remain in business, we must fulfill all our legal and regulatory obligations and focus on compliance with it. From here the role of Compliance department starts and the objectives are:

• Demonstrate our integrity
• Protecting our clients and the market
• Protecting the bank
• Demonstrating good corporate citizenship

Responsibility for compliance realizes on each & every one of us to reflect that our organization as a whole is complaint. This means that we all need to be aware of the policies and procedures relevant to our role and comply with it.

Corporate Credit

CBD's Corporate Credit is engaged in extending financial facilities mainly to local business entities for carrying out their business activities such as production, manufacturing, trading, services, project finance, etc. in order to enable them to sustain/develop their businesses. Normally, corporate credit is extended by way of Working Capital (such as Overdrafts, Trust Receipts loans, cheques/bills discounting etc.), Letters of Credit (LCs), Letters of Guarantees (LGs) and also Term loans, etc. Generally, such corporate credit is extended based on the financial statements, cash flows, business projections and other credit considerations.

Human Resources

Human Resources are responsible for ensuring that people initiatives align with CBD business objectives. HR develops and implements policies and procedures in line with the UAE Labour Law covering the following core HR disciplines:

• Recruitment selection and administration
• Staff pay & benefits
• Training & development
• HR strategy & planning
• Emiratisation

HR is also responsible for producing various staff management information to assist CBD in taking the right decisions.

Internal Audit

CBD Internal Audit ensures that the Bank's potential risks are minimized, security and control guidelines are strictly adhered to and that appropriate checks and balances exist in work processes to ensure compliance. This is achieved by conducting regular audits in branches and head office departments and is usually followed by recommendations for improvement. It is also Audit’s role to keep up to date with changes to guidelines and directives issued by Government and Central Bank.

Marketing & Communications

CBD Marketing & Communications develops and implements the Bank's marketing, promotions and advertising strategies to ensure our customers receive the right offers and the right messages depending on their needs.
In addition, marketing is responsible for service quality initiatives in the branches.

Risk Management

Risk Management is fast emerging as a science and taking a center stage in the field of Banking and Financial Services, which is a highly leveraged business activity.  Diligent risk management in a structured manner and well documented risk management process is essential for the Bank to protect itself and also enhance the value to all the stakeholders (i.e. Customers, shareholders and the employees)

At CBD, Risk Management Department is a compact and cohesive team.  Risk Management Department has 4 units therewithin, which are: Market Risk, Credit Risk, Operational Risk, and IT Security &GRC.  Factoring the rationale that Risk Management is a dynamic and continually evolving process, the various functional aspects attended to by each of these teams at Commercial Bank of Dubai are briefly as under:

Market Risk

MRM framework comprises of several strategies focusing on Price risk, Liquidity risk, Asset/Liability management, Trading activity, Middle Office, and Asset valuation. Specific approach for each strategy has been put in place in order to Identify, measure, monitor and report risks effectively.  A set of tools has been implemented which includes Daily risk reporting capability, ALM system for liquidity and stress testing, daily reporting of trading activity, Treasury and risk system to measure price risk and monitor treasury exposures.  Best practice for Liquidity management has been defined in several policies including Stress testing, liquidity contingency planning and liquidity forecasting which allows the bank to monitor the balance sheet structure efficiently.  The Bank is presently measuring the capital charge for market risk using the Standardized Approach.

Credit Risk

CRM framework comprises, among other things, analysis of credit deployment sector-wise, segment-wise and consumer-wise.  In case of corporate/commercial accounts, a rating model is used; and in case of consumer accounts, a scoring model is used to apprise/assess the credit portfolio.   In order to take cognizance of the concentration risk and counterparty risk, regular assessment of risk appetite, sector-wise, is also carried out.   There are continuous efforts to identify, measure, monitor, and report the risk on account of the credit portfolio.  Stress Testing and RARORAC computation are carried out regularly.  The Bank is in the process of moving from Standardized Approach to IRB Approach of computing the capital charge for credit risk.

Operational Risk

ORM unit uses the tools of RCSA (Risk Control & Self Assessment), Loss Event Report, Incident Reporting system, and the Whistle Blowing mechanism for carrying out its functions.  The ORM system is under the process of fuller automation which would make the function more dynamic and effective.  At CBD, the Basic Indicator Approach is used to compute the capital charge under operational risk.

IT Security & GRC

GRC is a unit under Risk Management Department responsible for management of IT-related risks, including security awareness, Information security policies, IT risk assessments, penetration tests and security reviews, security monitoring, incident response, PCI DSS compliance, and all the remaining activities that support our Bank to enhance its IT security posture, identifying and managing IT-related risks.

Finally, the requirements of Basel II (and III), and Central Bank regulations thereon, as well as Corporate Governance, are taken cognizance of at RMD.  

RMD team members have rich experience in their respective area.  Ideal candidates should be always striving to learn and, depending on the position, have strong background managing the respective risk function, and also facilitate in the continuous evolution of an Enterprise-wide Risk Management System.  Knowledge about the latest developments in risk management and a professional certification is preferable.

Trade Services

Commercial Bank of Dubai is one of the leading providers of Trade Finance products and services in the UAE. The Bank's large customer base includes companies dealing in oil, steel, textiles, machinery, real estate, automobiles, food stuff and various other sectors. Customers benefit from CBD's extensive trade finance expertise which comprise a wider product range, local market know-how, global reach and highly experienced Managers with an average experience of more than 25 years in the field of Trade Finance. Also, customer focused Relationship Managers work in tandem with the Trade Finance Department to provide better services to their clients.

CBD's Trade Finance product portfolio constitutes both conventional and Shari'a compliant Islamic products. The range of Trade Finance products offered include Import LCs, Export LCs, Guarantees, Standby LCs, Trade Finance Loans, Collections, Trade Bills Discounting, Aval, Bankers’ Acceptances, Islamic LCs and Murabaha Loans and other LC Services.