
RBS: Securing a Banking License Amid Brexit Challenges
SUCCESS STORY | CHARLES UECKERMAN


Introduction
The Royal Bank of Scotland embarked on a crucial project in preparation for a hard Brexit scenario, aiming to secure passporting rights within the single market by establishing a German branch. As the project manager, I oversaw the implementation of the Regulatory Reporting framework to the Deutsche Bundesbank to ensure compliance and success.
The Challenge
The project presented an exceptionally high visibility challenge with fixed and non-negotiable timelines. The primary goal was to set up a European Banking License and collaborate closely with the Germany Branch and German Bundesbank to secure the required licenses before the Brexit deadline.
Objectives and Strategy
My role involved creating a comprehensive project plan and ensuring strict adherence to the tight schedules in place. I led a team of Business Analysts and developers, overseeing activities such as scoping analysis, design, development, testing, and final implementation. To counter resource limitations, I brought in PricewaterhouseCoopers (PwC) on a consultancy basis to lend their expertise and support.
Implementation
Throughout the project, I provided weekly status updates within the larger program to keep stakeholders informed and aligned. Close collaboration with key stakeholders from RBS, PwC, legal, compliance, and Deutsche Bundesbank was essential to navigate complexities and ensure a seamless process.
Results and Benefits
Thanks to the meticulous planning, dedicated teamwork, and effective coordination with stakeholders, the project was a resounding success. The Regulatory Reporting framework was successfully implemented at the Deutsche Bundesbank, enabling the Royal Bank of Scotland to maintain its passporting rights within the single market. Securing the European Banking License ahead of the Brexit deadline was a significant achievement, safeguarding RBS's operations in the post-Brexit era.
Conclusion
In conclusion, this project exemplified the power of strategic planning, teamwork, and stakeholder collaboration in overcoming challenges and achieving critical business objectives. The successful implementation of the Regulatory Reporting framework within the Deutsche Bundesbank demonstrates the commitment and proficiency of all involved parties in navigating complex regulatory landscapes and ensuring business continuity in the face of significant geopolitical changes.