Definition of a Bank Policy Manual
The Bank Policy Manual from BankPolicies.com is the authoritative source that outlines policies and procedures of a bank, credit union, fintech company, or other type of financial institution. These manuals are typically organized into sections – such as Administrative, Compliance, Lending, and Operations - and may use numbered series for identification. Each section contains the policies and procedures governing specific areas of the organization.
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Policies and Procedures
Policies and procedures form the core of any Policy Manual, and it is important to understand the difference between a "policy" and a "procedure:"
Policy: A policy is a high-level directive that communicates an institution’s goals and expectations. Policies typically require approval from senior management and the board of directors. Examples include compliance and regulatory requirements, lending standards, operations, and human resources guidelines.
Procedure: A procedure outlines the specific steps required to carry out a related policy. Procedures are less formal and usually require only senior management approval. Examples include processing wire transfers, opening new accounts, and teller cash balancing.
Support Documentation
Exhibits are supplemental materials attached to a policy or procedure to provide additional guidance. They may include forms, reports, diagrams, contracts or agreements, or other reference documents, often using fictitious data for illustration. Exhibits serve to train, instruct, and guide employees through tasks or assignments.
Revisions
A Policy Manual is a dynamic document. While some content may remain unchanged for extended periods, revisions are occasionally necessary to reflect regulatory or operational updates. Procedures are updated more frequently based on feedback from staff who use them daily. All revisions must maintain appropriate controls, and final approval rests with management.
Implementation and Training
Once updates are communicated, affected personnel must be trained on new or revised policies and procedures. Communication may occur through Intranet, internal newsletter, memoranda, or other official notices. Training is essential – particularly for regulatory topics – and institutions must document training activities to support compliance and operational audits.