BRANCH OPENING PROCEDURES AND CHECKLISTS

Branch Opening Procedures

The following requirements must be met when planning the opening of a new branch: -

i. The Branch Opening Checklist includes both steps for opening the branch as well as standard
assets, regulatory requirement for opening a new branch and expenses for opening the
branch
ii. All details of the area assessment report must be verified and approved.
iii. Internal Audit should conduct a walk through prior to start up to ensure that all pre-opening
requirements are met before branch opening.
iv. All Branch openings must be included in the business plan that is approved by the SMT
v. Any additional Branches outside of the business plan must be approved by the Board
vi. The new branch has been approved by the Board of Directors.
vii. A branch opening committee must meet on a weekly basis until the branch is opened and
running smoothly.
viii. For Satellite Offices, all staff will be managed by the Branch Manager at the supervising Branch.
ix. For Satellite Offices, operations will begin under the supervision of the Branch Manager, and a
Supervisor will be hired as soon as possible.
x. New Branch Managers must have joined ……………… months before the branch opens.
xi. All new branches should be launched with an opening ceremony to which local authorities are
invited.
xii. The BM must begin using the branch working area map, and identify all negative working areas,
i.e. areas where employee safety may be at risk or known defaulters exist.
xiii. Branch Manager must make sure follow up on branch business licence, OSHA certificate, fire
certificate, and any other important regulatory certifications and get it on time.

Check-List

Responsible Due
No. Activity Status
Person Date
1 Branch approved by Board of Directors
2 CEO official email to open branch
Conduct Market Research and
3
feasibility study
Meeting with local authorities to inform of branch
4
opening
5 Identification of premises
6 Branch Manager Hiring
7 Follow up and obtain the business license,
Obtaining a letter of no objection for opening a new
8
branch from the Central Bank/Clearance
Branch obtain the OSHA certificate, EFTA Audited FS,
BoT License, President picture, TIN #, and Fire
9
Certificate. All should be displayed at the conspicuous
position.
10 Staff Hiring
11 Staff Training
12 Branch equipment and supplies ordered
13 Branch physical set up: floor, walls, paint, etc.
14 Configure Emails for all Staff
Deploy Customer complaints mechanism (register or
15
suggestion box)
16 Systems updates for new branch
Branch Supplied with the necessary EFTA Manuals,
17
Policies and Procedures.
Electrical Fittings (check that there is no risk to
18
computers)
19 Branch security set up/Security equipment installation
20 Office Branding
21 Branch Opening Ceremony