Banking Policies and Procedures

It goes without saying that it is important for banks to adhere to strict policies and guidelines. Hundreds of thousands of dollars are exchanged every day through all different types of transactions, ranging from the simple to complex. Banks often find themselves in trouble when policies and procedures put in place to help protect themselves as well as their customers are not followed. This can happen for a variety of reasons – anything from a simple oversight to willful negligence can be the cause. When a bank is brought to court as a result of a policy violation, a banking expert witness can help sort out what can be considered a mistake and an intentional violation.

If you run a bank, you know how hard it can be to develop these rules. We’ve put together a quick list of things to consider when creating your bank’s policies and procedures.

·      There are plenty of pre-written documents easily available online. While these may be a good starting point, avoid using the documents outright. Take time to read through and customize. Remember, your banking policies should reflect your bank’s individual philosophy and best practices.

·      The easier your policies are to understand, the easier it will be to enforce them. Break down your information into easily digestible components.

·      Remember that your employees are the ones who will most likely know the best way to go about business, so be sure to brainstorm with them when developing your procedures.