Policy Review & Development
When conducting a review of existing risk management policies and procedures the Center’s staff looks for loopholes, ambiguity, ineffective or impractical language, as well as policies on the books that aren’t followed. Our detailed report contains specific recommendations to strengthen policies, as well as redlined versions of the initial policy documents. The Center’s staff can also rewrite the organization’s policies or create new ones where needed. Most policy review assignments involve a combination of policy review and new policy development. Call Melanie Lockwood Herman at (202) 785-3891 to talk about your needs as the basis for us writing a proposal to review, rewrite or develop policies.
Since our inception in 1990, the Center has been conducting reviews of policies of nonprofit organizations as part of our risk assessment consulting practice. Policies are in essence statements of how a nonprofit organization will conduct itself. The board of directors of the organization is ultimately accountable for whether staff and the organization itself follow the approved policies. Having the “right” policies can ensure that an organization is poised to comply with legal requirements and ‘best practices’ — however — educating board members, supervisory and line staff about the policies, as well as ensuring the fair and consistent enforcement of the policies is critical to successful risk management.
Conducting a policy review is an effective risk management strategy because the process of review by an outside objective party with experience in the laws governing nonprofit, tax-exempt organizations can: (1) illuminate major exposures facing the organization relating to compliance with statutory and regulatory requirements, and (2) offer practical recommendations for addressing critical risks raised by the organization’s operating procedures.