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Case Study

Brexit Project Management Support and Risk Management Expertise

FOCUS ON: Case studies, Risk,

SUMMARY

The client was a leading US-headquartered G-SIB, looking to build a presence in the Eurozone (“Brexit Entity”). This needed to be completed in a short period of time, amongst a great deal of Brexit uncertainty. As a part of this work, Avantage Reply provided project management services to support the build-out of the Bank’s risk function. Support was provided in the form of experienced project management and subject-matter expertise (Risk Management, Front Office and Markets). In particular, project management support was provided in the areas of Risk Management Frameworks, Capital and Exposure Reporting and Stress Testing.

The end result was that the Bank was ‘go-live’ ready for the original Brexit date of March 2019. Processes, systems and capabilities were established, extensively validated and tested. The Bank was ready to provide a continuous, reliable and uninterrupted service to clients, had Brexit not been delayed.

THE CHALLENGE

The Bank wanted to have a viable European entity (“Brexit entity”) to allow uninterrupted business activity to continue in the event of a ‘hard’ Brexit. The Brexit process has been chaotic and unpredictable (political developments). In this environment, the Bank needed to build an entirely new ‘significant’ legal entity (with associated banking and capital permissions) in a new regulatory environment.

APPROACH AND SOLUTION

Avantage Reply provided project management services to support the build-out of the Bank’s risk function. Support was provided in the form of experienced project management and subject-matter expertise (Risk Management, Front Office and Markets). In particular, project management support was provided in the areas of Risk Management Frameworks, Capital and Exposure Reporting and Stress Testing.

RESULTS AND BENEFITS

The client was able to successfully deliver a highly-complex Brexit programme within a short timeframe and was ready for the original Brexit date of March 2019.

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