The Importance of Centralizing Your Policy and Procedure Management

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Unaligned Policies and Procedures can Leave Your Organization Exposed

During examinations, financial services organizations often do not get in trouble with regulators because they do not have a policy or that the policy is not acknowledged. They run into trouble because their policies and procedures are not aligned. The policy says to do one thing and the procedure tells people to do something else.

In this article, BAI helps financial services organizations understand the proper way to align their policies and procedures by highlighting important steps in the creation process including:

  • Understanding the difference between policies and procedures
  • Establishing a defined departmental review process and centralized compliance review process
  • Knowing what each regulator will evaluate

To learn how to properly align your organizational policies and procedures to be compliant with regulatory expectations, download BAI’s "The Importance of Centralizing Your Policy and Procedure Management" article today!