Mastercard on why risk management should be part of marketing
Mastercard’s Raja Rajamannar set up a risk management function within marketing three years ago, which has enabled the business to better cope with the fallout of the pandemic.
Setting strategy when there is so much uncertainty to contend with is no mean feat. But Mastercard’s chief marketing and communications officer, Raja Rajamannar, believes the business was in a better position than most thanks to the introduction three years ago of a risk management function that sits within marketing.
He tasked the team with identifying potential risks and the likely impact they could have on the business, so he knew what to “keep a sharp eye on”.
While no-one could have foreseen the impact Covid-19 would have on businesses around the world, Rajamannar said having the these building block in place has been “extremely useful” and has helped to ensure Mastercard “doesn’t miss a beat”.