Risk Management of Products and Services Policy
The purpose of this Risk Management of Products and Services Policy Template is to ensure a bank, credit union, or other type of financial institution properly evaluates and oversees its new products and services (including the enhancement and/or revision of existing products and services) to verify that they are permissible and, if applicable, obtain the necessary regulatory approvals to ensure compliance with all federal and state laws, rules, and regulations.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Organization, Responsibilities and Administration – Topic 3
- Strategic Planning and Due Diligence – Topic 4
- Regulatory Applicability – Topic 5
- Risk Management – Topic 6
- Audit Policy – Topic 7
- Staff Training Topic 8
- Retention of Documentation – Topic 9
This Risk Management of Products and Services Policy Template (approximately 25 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.
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