The Melton Mowbray Building Society has become the latest society to implement Hitec’s Policy Lifecycle Management Solution, PolicyHub.
The system is designed to support mutuals’ governance risk and compliance needs. It includes a single repository for policies, version control and automating the policy acceptance process. Mowbray want to manage the processes around critical policies and procedures to ensure compliance and mitigate risk.
Les Richardson of Hitec said: “We are delighted that Melton Mowbray BS has selected PolicyHub. We are seeing a rise in Societies deploying our Enterprise Risk Management and Policy Management solutions, which together form an integrated GRC (Governance Risk & Compliance) platform. These solutions have been warmly received as they address high profile areas of Best Practice and Corporate Governance.
“With growing pressures on Societies to meet the demands of legislation and compliance; we have more and more Societies looking for support in this area.”
Chris Rowley, operations director at the Melton Mowbray BS added: “As a Society we need to be confident that staff are up to date with policies and procedures and that there is evidence that they have read and understood them. We also need to ensure there are strong controls over version management.
“We believe that the installation of PolicyHub will give us increased governance and control, leading to a greater level of assurance to management, the Board, auditors and regulators.”