Successful Management of MiFID II/MiFIR Implementation Challenges at a German Federal State Bank

During the implementation of MiFID II/MiFIR at a German Federal State Bank, the planned targets were not achieved as originally planned. LKPU stepped in to manage the technical issues and the overall program from the program management office, ensuring a successful outcome.

• Conducted thorough reviews to assess the current state of the project and identify areas for improvement.
• Implemented necessary turnarounds to address challenges and realign the project with the desired outcomes.
• Restructured the project to enhance its effectiveness and integrated it into a broader program framework.
• Streamlined processes, improved coordination, and fostered cross-functional collaboration.
• Developed comprehensive plans and budgets for the project, considering the necessary resources and financial aspects.
• Carefully selected and assigned qualified individuals to key roles, ensuring the project’s success.
• Established an efficient organizational and operational structure to facilitate clear communication, accountability, and decision-making.
• Defined roles, responsibilities, workflows, and reporting lines to optimize project performance.
• Implemented control mechanisms to maintain transparency and enable effective project management.
• Utilized pragmatic tools and methodologies to monitor progress, identify issues, and take corrective actions in a timely manner.

LKPU effectively managed the challenges of the MiFID II/MiFIR implementation at the German Federal State Bank, ensuring compliance and target achievement. Our expertise encompassed reviews, project restructuring, planning, setup of organizational structure, and control through transparency and pragmatic tools. The outcome reinforces the bank’s regulatory compliance and strengthens its position in the financial industry.