Reorganization of investment advice (securities) for a major German bank

Case Study

Background

Our client was a large German private and commercial bank. One of its main sources of income was the business of advising on and selling or brokering securities. At the time, the bank served several million relevant private customers and had several thousand securities and investment advisors in its branches. In the course of a change in legislation, the requirements for the advisory process and its documentation were significantly increased. The bank’s infrastructure and processes were not yet geared towards this – in addition, all of the bank’s available implementation capacities were tied up in a major merger project.

Goals

The requirements of the banking supervisory authority were to be met on time, thus offering customers an improved advisory process and minimizing the risk of severe penalties. To this end, a project was first to be set up to analyze the requirements and develop solution scenarios. A concept and plan for implementation should then be drawn up on this basis. The subsequent IT implementation of the project should be carried out by an outsourcing partner outside of Europe. Interactions with the parallel merger should be avoided.

Solution & Results

A project was set up with the bank’s specialist departments to analyze the requirements and design the implementation. Specialist concepts for a regulatory-compliant and IT-supported advisory process were drawn up and the corresponding user design for the future application was created. The development of the corresponding IT adaptations was coordinated and scheduled with the outsourcing service provider on site and at the foreign location. Appropriate governance was set up and ongoing coordination took place with the departments concerned. Capacity management was closely coordinated with the parallel project plans.

Our role

The management of the specialist project was taken over and the management level of the specialist department was thus put in a position to successfully implement the project technically despite the overall tight resource situation within the bank.