Governance Policy

Governance Policy

Overview & Purpose

This Governance Policy establishes how [Company Name] makes decisions, assigns responsibility, and maintains accountability across the organization. Effective governance ensures that the company operates ethically, manages risk, and meets the expectations of its stakeholders—including customers, team members, and regulators. This policy supports the organization’s overall security and compliance posture under the SOC 2 Trust Services Criteria.

Scope

This policy applies to all [Company Name] employees, contractors, and leadership team members. It covers the company’s decision-making structure, documentation practices, and oversight responsibilities.

Policy

1. Leadership & Accountability

• The leadership team is responsible for defining company objectives, allocating resources, and setting priorities.
• A designated executive (e.g., CEO, COO) holds final accountability for risk, compliance, and security.
• Department leaders are responsible for implementing relevant controls and ensuring policy adherence within their teams.

2. Roles & Responsibilities

• Roles and responsibilities must be clearly defined and documented for all positions.
• Departmental org charts should be maintained to reflect current reporting lines.
• Each policy must have an owner responsible for updates and implementation.

3. Governance Committees

• As needed, governance functions (such as risk or compliance reviews) may be carried out by informal committees or assigned working groups.
• These groups may include representatives from security, operations, engineering, or HR depending on the subject matter.

4. Documentation & Decision Making

• Key compliance, risk, and security decisions must be documented. This includes:
  • Internal policy updates
  • Vendor and tool approvals
  • Outcomes of incident investigations
• Meeting summaries or decision logs should be retained for internal review or external audit.

5. Review & Evaluation

• Company policies and governance practices must be reviewed at least annually.
• Significant changes in business structure or risk environment should trigger an off-cycle review of this policy.

Compliance

All employees and contractors are expected to comply with this policy. Violations may lead to disciplinary action, including termination of employment or contract. Exceptions must be approved in writing by an executive team member.

Review History