In order to know where vulnerabilities are in an organization's trade compliance program, a thorough assessment needs to be conducted. Once the extent of risk is identified, the organization can then begin to understand what is required build a mitigating plan to address vulnerabilities.
There are a variety of templates that can be used to conduct a risk analysis, however, to ensure the analysis is free from bias a third−party should be consulted. Additionally, the template does not account for the unique operations and activities that are specific to your organization. What fits for a defense company is not necessarily going to fit for an institution of higher education.
Failure to recognize risks in your trade compliance program can have serious implications that not only can affect the strategic decisions of the organization, but it can impede an organization's potential to obtain a competitive advantage in the marketplace.
In closing the gaps of trade compliance vulnerabilities within your organization.
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