Tuendelee Microfinance Bank has introduced a new client verification policy to comply with updated internal control requirements. Existing borrowers must submit additional identification documents, while branch employees must collect feedback on the clarity of the new process. The bank also intends to issue an internal memorandum, display a notice/poster, circulate a short newsletter, update business transaction documents and use a simple questionnaire.
The human resource office will recruit on temporal basis clerks to assist branches and will use CVs and resumes to shortlist applicants. The operations manager requires formal written communication to clients and clear controls over all written records.
Required:
(a) Compare THREE written communication documents that would be suitable for communicating the new verification policy to staff and clients.
(b) Draft ONE formal business letter to existing borrowers informing them of the new client verification requirement.
(c) Recommend THREE controls for preparing and administering questionnaires, publicity materials, transaction documents and CV/resume records.
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