Policy Lifecycle
Policy lifecycle refers to the entire process of managing a policy from creation to retirement. This includes drafting, reviewing, publishing, acknowledging, updating, and eventually archiving policies.
In banks and credit unions, managing the policy lifecycle is essential to staying compliant, reducing risk, and ensuring staff always reference the most current version of each policy or procedure.
Why It Matters
- Ensures policies stay up-to-date and accurate
- Supports version control and audit preparedness
- Improves staff trust and clarity by removing outdated content
- Meets regulatory expectations for documentation and tracking
How SimplifyIT Helps
With SimplifyIT, you can manage the full policy lifecycle - draft, approve, publish, track acknowledgments, and archive - all within a secure intranet environment. Automated reminders and review schedules help ensure nothing gets overlooked.
Learn more about policy tracking and compliance tools