- Experience matters: It’s not uncommon to see policies missing key ingredients, or with information that – while accurate – reflects practices that aren’t compliant. If you’re not equipped to write the policy yourself, work with someone who is fluent in applicable federal and state regulation, self-regulation and your industry norms. All areas of expertise are important. You’ll want someone who can put all the required elements into the policy and help you address any practices that step outside the lines.
- Look ahead: Consider not only what you’re doing now, but what you might do in the future so that you can avoid rewriting the policy with every product change. Are there features on your roadmap that have implications for data handling practices? Planning to run a promotion in the next few months? It’s OK to craft the policies around these now, as long as the end results accurately explain what you will do in the future.
- Stay informed: Your policy may be complete, but the work isn’t done. Industry is always moving forward. Your business and products will evolve over time, and regulatory changes are on the horizon as well. Know what’s coming next and be sure that your policies and practices remain accurate and up-to-date.