AWS Identity and Access Management simplifies policy management
Today, AWS Identity and Access Management (IAM) added support for managed policies, an easier way to manage permissions. When you attach a managed policy to multiple IAM entities (users, groups, and roles), the permissions specified in that policy and any subsequent updates apply to all IAM entities to which the policy is attached. Managed policies enable you to see the history of each of your policies and roll back to previous versions of policies.
In addition to using managed policies that you create, you can also use policies that are managed by AWS. The managed policies controlled by AWS replace the existing policy templates. When you use managed policies controlled by AWS, you receive up-to-date policies automatically as AWS adds actions to services.
You can create, edit, and attach managed policies from a new policy section of the IAM console, or by using the application programming interface (API) and command line interface (CLI). Learn more by visiting the managed policy documentation, or get started on the AWS Management Console.