- July 19, 2016
- Posted by: Mark Stevens
- Category: ITAR
Failure to face the challenges of compliance will most likely result with a violation or an unintended “escape” sometime in the future. When the violation finally comes and you receive that “Letter” from the DDTC or BIS, you will experience fear and an overwhelming sense of panic. Initially the costs will start with the usual $5,000 retainer for legal representation, the lost time due to records recovery. Overall a violation will cost you so much more than the cost of compliance.
Not facing the problem is not a successful compliance strategy.
A solid compliance strategy will start with placing the right person or persons in leadership. Every good compliance manager has four key traits and attributes:
- Knowledge. They have a solid understanding of the regulations. Key point here is that they are not just familiar with the regulations, but they can accurately apply the regulations in the daily events.
- Conduct. They conduct themselves and expect the organization to fully be compliant with the regulations at al times.
- Service. They continually provide the service needed to assure that in every action and conversation, from the top of the organization throughout every level, every process instills and ensures compliance.
- Character. They not only posses but display the character needed to guide, coach, and ensure compliance. They never give way to knowingly violate a regulation.