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The headquarters of Landsbanki Íslands hf. are situated in Reykjavik, Iceland. Among divisions in the Bank‘s headquarters are:
The bank’s Legal Division consists of Legal Advisory and Legal Collection.
Legal Advisory provides in-house legal advice for the Bank‘s operations. Legal Collection handles enforcement of claims with general collection actions towards the bank’s creditors.
Corporate Banking consists of two departments: Credit and Loan Administration. Credit issues are handled by Customer Relations Managers and the Credit Committee’s employee. The Customer Relations Managers supervise specific loans in the bank’s loan portfolio. Their objective is to maximize the portfolio’s value.
The LBI Observer is responsible for the monitoring of certain asset portfolios that were transferred to NBI by the FME’s decision in October 2008. NBI issued a ten year bond to Landsbanki Íslands hf.; the amount of the bond was the result of a negotiated settlement. A valuation of the asset portfolios being monitored by the Observer will be undertaken at end 2012.
Finance and Operations handles accounting for the bank’s operations and finance. The division is also responsible for the bank’s accounting and results on a group basis, as well as various group financial and operational issues.
The role of the Risk Management division is to verify, measure, monitor and report on the main risk factors faced by the bank in its operations. These involve primarily operational risk, market risk and credit risk, which is most important given the nature and scope of the operations. Risk Management regularly and systematically monitors the work of Legal Collection, the Corporate Banking derivative group and Customer Relations Managers with the aim of maximizing the value of the bank's assets.
The public relations officer looks after press and media relations, follows and assesses media reports and discussion of issues concerning the bank directly and indirectly. The creditor relations officer handles communications with creditors as appropriate.
Cash Management supervises the storage and yield of the funds that are raised in the winding-up proceedings and places primary emphasis on having them preserved in a dependable and secure manner, seeking to minimize the risk of loss as well as maximizing return on funds. The treasury operates under the orders of Landsbanki Cash Management Committee (LCMC).
The Claims Process was responsible for registering and classifying claims. The department has also worked on the registration of objections, communications with creditors and updating and reviewing information in the claims registration system. The division also participates in work relating to partial payments to creditors and the following creditor relations.