Abstract: A parallel-computing iterative solver is provided that employs a preconditioner that is processed using parallel-computing for solving linear systems of equations. Thus, a preconditioning algorithm is employed for parallel iterative solution of a large sparse system of linear system of equations (e.g., algebraic equations, matrix equations, etc.), such as the linear system of equations that commonly arise in computer-based 3D modeling of real-world systems (e.g., 3D modeling of oil or gas reservoirs, etc.). A novel technique is proposed for application of a multi-level preconditioning strategy to an original matrix that is partitioned and transformed to block bordered diagonal form. An approach for deriving a preconditioner for use in parallel iterative solution of a linear system of equations is provided. In particular, a parallel-computing iterative solver may derive and/or apply such a preconditioner for use in solving, through parallel processing, a linear system of equations.