Scheduled Policy Reviews
Scheduled policy reviews refer to the recurring process of reviewing and updating internal policies at regular intervals - often required by regulators or internal governance standards. Financial institutions use these reviews to ensure that content remains accurate, compliant, and aligned with current procedures or regulations.
Reviews are typically assigned to policy owners and must be completed by a specific due date. Missed reviews can result in outdated guidance, audit findings, or reputational risk. Most organizations schedule annual or semi-annual reviews, but higher-risk policies may require quarterly review.
Why It Matters
Regulators expect documented, up-to-date policies - and examiners will often check review dates and signoffs. A system for scheduled reviews ensures accountability and reduces the chances of outdated information being relied on by staff.
How SimplifyIT Helps
With SimplifyIT, you can assign review cycles to each policy, automatically remind policy owners of upcoming deadlines, and track review history with digital signoff. Version control ensures you always know what's current - and what changed.