Bridgeforce: Insights for Compliant Policies and Procedures Management

Policies and Procedures aren’t shiny or exciting, but they’re critical for ensuring compliance across your financial institution. In this Q&A, Bridgeforce CEO John Sanders gives his view on streamlining this requirement.

Q&A with John Sanders on Policies and Procedures

John, what’s the biggest challenge financial institutions face when it comes to managing policies and procedures (P&Ps)?

John:  Policies and Procedures are the foundation of compliance for financial institutions. They form the backbone of how operations run, define how to handle risk, and ensure that regulatory requirements are met. But let’s be honest…managing P&Ps is a headache. It’s expensive, time-consuming, and one of those “boring but necessary” evils. The problem is, P&Ps tend to be scattered, inconsistent, or outdated, and keeping them current requires resources. Financial institutions are already dealing with mounting pressure from regulators, so when their P&Ps aren’t up to snuff, it becomes a nightmare during an audit or examination.

What makes it so hard to keep P&Ps up to date?

John:  It’s not the nature of their business. Running a financial institution is a complex operation, and while maintaining P&Ps is critical, it often gets pushed to the backburner because day-to-day business takes precedence. On top of that, P&Ps are constantly evolving due to regulatory changes and internal developments, so keeping them consistent and up to date requires constant attention—and that’s hard to do without a dedicated team.

Is hiring someone internally a viable option?

John:  In theory, yes. But in practice, hiring someone to manage P&Ps can be costly, and even then, the results may not be ideal. You could easily spend the equivalent of a full-time employee (FTE) salary, and they might still struggle to manage hundreds of documents manually, across the enterprise. Non-specialists can miss updates, fail to keep things consistent, or simply not have the bandwidth to monitor regulatory changes in real-time. It’s a tough job for anyone, and the stakes are high.

So, how does the “P&P issue” get solved?

John:  We worked with Provana to take the headache out of P&P management with our P&P Governance offering. It provides a streamlined, cost-effective way to keep everything current, consistent, and accurate. For less than the cost of an FTE, we leverage technology, along with our expertise, to handle the care and maintenance of P&Ps. We assess all your policies and procedures and pull them into a best-in-class template, then we scrub them for gaps and risk. The platform we use, powered by Provana, allows us to monitor regulatory changes, update your documents in real-time, and keep everything in a centralized, organized format. It can be a massive relief for clients dealing with the burden of P&P management.

What are the key benefits that financial institutions get from the Bridgeforce and Provana P&P Governance solution?

John:  There are several big benefits. First, it’s far more cost-effective than hiring someone internally to handle P&Ps. Our system requires just a handful of hours each month to keep everything up to date, so it’s efficient. Second, it ensures consistency and accuracy across all your P&Ps, which is crucial for both internal operations and regulatory audits. We also provide reporting and data insights, so lending institutions can focus on areas that need the most attention—whether that’s a regulatory change or an internal incident that requires a shift in procedure.

You mentioned earlier that managing P&Ps is a “necessary evil.” Can you explain what you mean by that?

John:  Absolutely. Managing P&Ps is one of those tasks that no one wants to do, but it’s absolutely critical and MUST be done. You cannot run a compliant, well-functioning lending organization without up-to-date P&Ps. It’s table stakes for managing operational risk, ensuring good customer outcomes, and meeting regulatory requirements. But when it’s neglected—whether because it’s expensive, time-consuming, or just boring—it becomes a huge liability during an audit or exam; let alone potentially having real consumer consequences.

How do Bridgeforce and Provana give leaders peace of mind?

John:  It’s about knowing that your P&Ps are in order. Our system ensures that everything aligns with the latest regulations and that what you’ve documented matches what you’re doing operationally. This is critical when it comes to audits or examinations because you can confidently demonstrate that your controls are in place and compliant. It’s hard to put a price on that peace of mind—especially when you’re dealing with everchanging regulatory and compliance expectations. And you get all of this for less than the cost of bringing in a full-time employee.

Why is Bridgeforce the right partner for policies and procedures governance?

John:  Bridgeforce has always focused on helping lending institutions solve their toughest problems. We’ve worked as operators and business leaders ourselves, so we understand the real-world challenges in keeping P&Ps up to date. Our product is not only a tech solution—it’s built on years of expertise in regulatory compliance and operational risk management. We know how to help you stay compliant, reduce operational risk, and avoid regulatory scrutiny, all while keeping costs down.

What does the process look like for a lender that wants to implement this solution?

John:  It starts with an initial exercise to get your P&Ps up to snuff. Once everything is loaded into the system, we maintain it. The beauty of our product is that it’s not a one-time fix—it’s a continuous solution that keeps your P&Ps current and compliant. As regulations change, we’ll be able to focus on those impacts and ensure your policies are updated accordingly. It’s all about giving you structure, control, and peace of mind—without the full-time commitment of managing it internally.

Any final thoughts on why this is a game-changer?

John:  This solution is game-changing because it takes something that’s traditionally been a resource-heavy, manual process and makes it automated, efficient, and cost-effective. Lending institutions can now manage their P&Ps with minimal effort, and more importantly, leaders can sleep at night knowing everything is in order.

The peace of mind that comes from being audit-ready, compliant, and in control is invaluable—and we’re proud to offer a solution that delivers just that.