SOPs (Standard Operating Procedures)
Standard Operating Procedures (SOPs) are detailed, written instructions that describe how routine tasks should be performed. In the banking and credit union world, SOPs help ensure regulatory compliance, operational consistency, and accountability across departments.
While policies define what must be done, SOPs explain exactly how to do it - step by step. They are essential tools for training, risk mitigation, and audit-readiness.
Why SOPs Matter
Having clear SOPs reduces confusion, helps new employees onboard faster, and ensures everyone is following the same procedures. In regulated environments like financial institutions, they're vital for demonstrating due diligence and passing audits.
Best Practices for Managing SOPs
- Organize by department or topic (e.g., lending, operations, compliance)
- Include version control and review dates
- Link SOPs to related policies and forms
- Make them searchable and role-specific
How SimplifyIT Helps
Our intranet makes SOP management easy with centralized storage, version history, permission settings, and quick linking between SOPs, forms, and related policies. You'll always know staff are using the latest version.