Project MiFID

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Project MiFID

• MiFID Reality Check
• 29 March 2007

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BearingPoint

• We are 17,000 management and
• technology consultants who get
• extraordinary things done. And our
• clients tell us we do it differently.
• We help deliver measurable and sustainable
• results. Day in and day out.
• Our approach is collaborative and flexible.
• Constantly innovating, we seek out the best
• way, not just the way.
• Our passionate and dedicated consultants
• bring management and technology experience
• to the table.
• Clients tell us they love working with us.
• Because we get things done. Differently.

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Danske Bank
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Danske Bank
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Project MiFID
The project organization consists of management
functions (Steering Committee, PMO), support
functions (Legal Support, Compliance Support and
Group of Observers) as well as production
functions (Work Groups)
CURRENT PROJECT ORGANIZATION
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Project MiFID
Phase 1 is complete with the delivery of Gap
Assessments, IT and Business Requirements
PROJECT STATUS HIGH LEVEL ALL PHASES
1 GAP ASSESSMENT AND HIGH-LEVEL REQUIREMENTS
2 DETAILED SPECIFICATIONS
3 DEVELOPMENT
4 TESTING
5 TRAINING DEPLOYMENT
6 ONGOING-COMPLIANCE
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Project MiFID
The MiFID project has identified five key
business impacts on Danske Bank and will
facilitate decisions in the appropriate manner
KEY BUSINESS IMPACTS
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Project MiFID
1st of November 2007 all relevant employees
should be able to render MiFID advisory and to
have understanding on the internal procedures
KEY BUSINESS IMPACTS - TRAINING

• Who?
• Branch employees, investment advisers and
  managers
• Where?
• Denmark, Norway, Sweden, Ireland, Northern
  Ireland, Luxemburg, London, Poland, Germany,
  Finland and the Baltic countries
• In branches and Finance Centers, Danske Markets,
• Danske Capital, Customer complaint, Customer
• phone contact, Danica, RD and Merchant Bank.
• What?
• Competency and job profiles will be updated
• Plan and execution of training (class room,
  e-learning etc.)
• Plan and execution of testing of MiFID skills

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Project MiFID
The MiFID regulations trigger both business
opportunities and potential threats for Danske
Bank
BUSINESS OPPORTUNITIES ACTING ON BANK MARKET
DYNAMICS AFTER MIFID
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Project MiFID
Based on the mapping of the current work groups
into the business processes in Danske Bank, the
project organization is adjusted to five new work
groups for phase 2 (implementation)
UPDATED PROJECT ORGANIZATION
Steering Committee
PMO
Legal Support Group
Prioritisation Board
Compliance Support Group
Reference Board
Shared Services Centre (SSC)
Business Line
Single Point of Entry Non-Danish WG
HR
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Project MiFID

• QA