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#1589853 - 08/09/11 08:39 PM Policy, Procedures, Processes, Approval by the BOD
BSAChick Offline
Member
Joined: Oct 2005
Posts: 94
Illinois
I have come to a new bank and the BSA Policy is riddled with procedures, processes, and "extras" it doesn't need. So I am going to write a new policy with separate procedures. That part I am fine with. But when I go to the Board for the approval of the new policy what do I do? In my past when I made changes to policy I would do a memo highlighting the significant changes. Well the main content obviously will be the same, but a totally different layout. Any suggestions on how I present this to the Board? Does it matter? The "meat" of the policy is the same...... Appreciate any feedback.
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#1589887 - 08/09/11 09:42 PM Re: Policy, Procedures, Processes, Approval by the BOD BSAChick
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
I would outline in a summary memo to accompany the revised policy what general chanegs you made and why (i.e. removed procedures related to CTR completion and relocated them to the new separate procedures document).
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#1589901 - 08/09/11 10:28 PM Re: Policy, Procedures, Processes, Approval by the BOD #Just Jay
Sing A Little Offline
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Sing A Little
Joined: Jul 2006
Posts: 3,889
CA
I agree, a summary of your overall changes is the best way to go. You can always provide a copy of the old policy for reference.
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