The Marketings Portfolio Strategy - Essay Example

The Marketing’s Portfolio Strategy group develops a “Monthly Lead List” which is used by the marketing department for the purpose of identification of customers that are part of our portfolio. The list undergoes strict quality checks by an independent Quality Control Analyst, who validates the data by utilizing critical business logic and by using QC results tab for result presentation. The US Bank’s Data Management and Analytics group prepare the Month-end-marketing Metrics, which is also utilized by the marketing department to develop a report that provides guidance regarding marketing sales goals, actual and budgeted costs of marketing, cost per application, cost per lead and the associated variances.

Interaction with legal and compliance department for approval of the marketing material that is under development for the purpose of compliance to relevant laws is also carried out by marketing department. During the period before June 1, 2014 approvals for marketing material was only sought from the legal department, but now the marketing department utilizes US Bank’s “ticket management system” for this purpose. So, now marketing material is approved by compliance department after it has been approved by the legal department.

ConclusionBased on the audit, the rating for Marketing review and Portfolio strategy has been labeled “Effective”. Policy and procedures related to a quality control process for marketing lead list have been prepared and released by the Business unit. Whether adequate Quality Control was implemented by the independent analyst or not, could not be ascertained, since supporting documents were insufficient to support the analyst’s position. The team is in the process of implementing control measures which are an indication that they are aware of the prevailing risks.