POLICY IMPLEMENTATION PROCESS
CONTENTS
1.0 Introduction.........................................................................................................................................................................4
1.1 Purpose........................................................................................................................................................................4
1.2 Scope............................................................................................................................................................................4
1.3 Document Overview...............................................................................................................................................5
2.0 Policy Identification...........................................................................................................................................................5
2.1 Existing Policies.......................................................................................................................................................5
2.2 Future Policies.........................................................................................................................................................5
3.0 Policy Development.........................................................................................................................................................5
3.1 Policy Creation........................................................................................................................................................5
3.2 Stakeholder Engagement...................................................................................................................................6
3.3 Legal and Compliance Review..........................................................................................................................6
4.0 Sensitization and Training..............................................................................................................................................6
4.1 Sensitization.............................................................................................................................................................6
4.2 Training Programs..................................................................................................................................................6
4.3 Monitoring and Evaluation.................................................................................................................................7
5.0 Implementation Planning...............................................................................................................................................7
5.1 Timeline and Milestones......................................................................................................................................7
5.2 Resource Allocation...............................................................................................................................................7
5.3 Risk Assessment......................................................................................................................................................7
5.4 Monitoring and Evaluation Metrics.................................................................................................................7
6.0 Policy Rollout.......................................................................................................................................................................7
6.1 Notification...............................................................................................................................................................7
6.2 Documentation........................................................................................................................................................7
7.0 Monitoring and Compliance..........................................................................................................................................7
7.1 Periodic Assessment/Audits................................................................................................................................8
7.2 Reporting Mechanisms.........................................................................................................................................8
7.3 Initial Compliance Measures...............................................................................................................................8
7.3.1 Checklists.....................................................................................................................................................8
7.4 Non-Compliance Handling.................................................................................................................................8
8.0 Review and Improvement................................................................................................................................................8
8.1 Feedback and Lessons Learned.........................................................................................................................8
8.2 Periodic Review.........................................................................................................................................................9
9.0 Documentation and Records..........................................................................................................................................9
10.0 Conclusion...........................................................................................................................................................................9
Stakeholder’s Concurrence.........................................................................................................................................................9
1.0 INTRODUCTION
1.1 Purpose
This document outlines the systematic process for implementing existing and future policies within Rosabon Financial Services. It provides a framework for policy identification, development, communication, training, planning, rollout, monitoring, and continuous improvement.
1.2 Scope
This policy implementation process applies to all policies, including but not limited to, those related to the following:
• HR Policies
• IT Policies
• Financial Policies
• Health & Safety Policies
• Compliance & Regulatory
• Quality Assurance
• Environmental Policies
• Employee Benefits
• Travel & Expenses
• Communication & Social Media
• Data Management
• Ethical Conduct
• Intellectual Property
• Customer Service
• Project Management
• Legal & Contractual
• Emergency Response
• Training & Development
• Diversity & Inclusion
• Community Responsibility
• Business Continuity
1.3 Document Overview
This document serves as a guideline for all employees, managers, and stakeholders involved in the policy implementation process. It aims to ensure that policies are effectively adopted, understood, and adhered to throughout the organization.
2.0 POLICY IDENTIFICATION
2.1 Existing Policies
All existing policies within the organization should be compiled and a comprehensive list including policy titles, designate responsible units or departments for each policy should be created, and the dates of the most recent reviews or updates be documented. This effort will ensure the maintenance of an up-to- date policy inventory containing essential information, such as policy titles, responsible parties, and the dates of their latest reviews. This inventory plays a pivotal role as a vital reference point for effective policy management and facilitates compliance initiatives within the organization.
2.2 Future Policies
All future policies must have stakeholder’s concurrence section and management approval section together with the details of policy owners responsible for the implementation of the policy. By defining a clear process for drafting and approving new policies, and assigning dedicated policy owners, the organization ensures a structured and accountable approach to policy development and implementation. This promotes effective policy governance and aligns with the organization's commitment to compliance and best practices.
3.0 POLICY DEVELOPMENT
3.1 Policy Creation
All revised/future policies should follow the below outline for proper documentation to ensure alignment with organizational goals and objectives.
1. Policy Title: Clear and descriptive title.
2. Policy Statement: A concise statement of the policy's purpose and objectives.
3. Scope: Define the boundaries and applicability of the policy.
4. Definitions: Clarify key terms and concepts used in the policy.
5. Policy Details: Provide detailed guidelines, procedures, or rules related to the policy.
6. Responsibilities: Specify who is responsible for complying with and enforcing the policy.
7. Compliance and Enforcement: Explain consequences for non-compliance and the enforcement mechanism.
8. Review and Revision: Specify how and when the policy will be reviewed and updated.
9. Version History/Control
10. Stakeholder’s Concurrence and Management’s approval
11. Appendices (if applicable): Attach any supplementary documents, forms, or resources.
This structured outline ensures that policies are comprehensive, clear, and effective in guiding organizational behavior and decision-making while maintaining conciseness.
All policy documents must include a watermark indicating their classification, such as “Confidential”, “Internal Use Only”, or other relevant labels. The watermarking requirement aims to enhance document security and clarity by visibly indicating the sensitivity or confidentiality level of policy documents.
3.2 Stakeholder Engagement
All pertinent stakeholders in the policy development process should be properly engaged to collect input, address concerns, and build consensus effectively.
3.3 Legal and Compliance Review
Legal and compliance assessments should be conducted to ensure policies adhere to local, national, and international regulations.
4.0 SENSITIZATION AND TRAINING
4.1 Sensitization
All methods and channels for communicating policies to employees, including orientation, training, and timelines should be specified in the policy. Relevant stakeholders should be carried along during initialization prior to sign off. After sign off and upper management (GM/MD) approval, sensitization should be conducted prior to final policy implementation.
4.2 Training Programs
An assessment to identify training requirements for employees affected by policies should be conducted and documented. Also, training programs that will equip employees with the knowledge and skills needed to comply with the policy should be organized.
4.3 Monitoring and Evaluation
Mechanisms to monitor the effectiveness of training should be implemented.
5.0 IMPLEMENTATION PLANNING
5.1 Timeline and Milestones
Timelines with clear milestones for the implementation of the policy should be established.
5.2 Resource Allocation
Resources, encompassing personnel, technology, and budget, should be allocated to facilitate and bolster implementation endeavors.
5.3 Risk Assessment
The identification of potential risks and the development of mitigation strategies related to policy implementation should be undertaken.
5.4 Monitoring and Evaluation Metrics
Key Performance Indicators (KPIs) to assess the success and compliance of policy implementation should be defined.
6.0 POLICY ROLLOUT
6.1 Notification
All affected parties should be notified of the upcoming policy implementation, including effective dates and expectations.
6.2 Documentation
All relevant policy documentation should be properly archived and readily accessible to employees. However, security measures should be put in place before such documents can be accessed. Such measures may include enabling an OTP to be sent to the official email address of the accessor before the document can be opened.
7.0 MONITORING AND COMPLIANCE
Continuous monitoring and compliance activities are crucial to maintaining the effectiveness of all the policies.
7.1 Periodic Assessment/Audits
Regular assessments will be conducted to evaluate the continued compliance with the policy. These assessments will be supervised by the policy owners to ensure timeliness and adherence. Such assessments should take place quarterly.
7.2 Reporting Mechanisms
A reporting system should be established to allow employees and stakeholders to report any potential non-compliance issues or concerns.
7.3 Initial Compliance Measures
To ensure the successful implementation of the policy, it is essential to establish measures for assessing initial compliance. These measures will help identify any gaps or areas that require immediate attention. Such measures would include audits (as explained in 7.1 above) and checklists.
7.3.1 Checklists
Checklists will be developed to facilitate the assessment of compliance. These checklists will serve as a practical tool for employees and stakeholders to ensure that they are following the policy's provisions correctly.
7.4 Non-Compliance Handling
In the event of non-compliance, a clear procedure for handling such instances should be implemented. This will include:
1. Identify non-compliance promptly.
2. Assess its impact and severity while maintaining transparency and fairness.
3. Implement corrective actions, like training or process improvements.
4. Monitor and document outcomes.
5. Communicate with stakeholders and hold individuals accountable.
8.0 REVIEW AND IMPROVEMENT
To ensure the policy remains effective and relevant, a structured process for periodic review, feedback collection, and necessary adjustments should be in place.
8.1 Feedback and Lessons Learned
Feedback from employees, stakeholders, and relevant parties should be actively sought to identify areas for improvement. Lessons learned from compliance assessments and non-compliance incidents should also inform policy enhancements.
8.2 Periodic Review
The policy will undergo periodic reviews to assess its effectiveness and relevance. These reviews will be conducted by designated stakeholders on a specified basis.
Based on the feedback and lessons learned, necessary adjustments to the policy should be made. These adjustments will be documented and communicated to all relevant parties.
9.0 DOCUMENTATION AND RECORDS
All documents related to policy implementation, compliance assessments, and feedback will be meticulously recorded and maintained. These records will be stored in a secure and accessible manner.
A systematic archiving process should also be in place to ensure that historical policy documents (i.e. previous versions of revised documents) are preserved for future reference. Our current online repositories (TCG Wiki, Document Management System) can serve this purpose.
10.0 CONCLUSION
The successful implementation of all the policies requires the commitment and cooperation of all employees and stakeholders.
VERSION HISTORY
|
Version |
Revision Date |
Description of Change |
Author |
Stakeholders Concurrence |
Next Review Date |
|
1.0 |
- |
- |
Taiwo Ajagunsegun
Obiageli Mbah |
Chima Annonye Ayodele Kappo Ezinne Umozurike Owoicho Agada Ibereayo Amoo Oluwole Ewejobi |
February 2026 |
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