Compliance : Bank of Ireland MiFID Programme
The MiFID (Markets in Financial Instruments Directive) Programme was a large compliance programme within Bank of Ireland’s Group Regulatory Risk & Compliance departments and the Bank’s Capital Markets Division. The duration of the programme was 11 months with a formal deadline date for the implementation of the Directive on 1st November 2007.
The impacted Business Units within Bank of Ireland Group were Bank of Ireland Asset Management, Bank of Ireland Global Markets (Republic of Ireland & UK), Bank of Ireland Private Banking, Bank of Ireland Corporate Banking, Corporate Finance (IBI), Bank of Ireland Shared Services (BOISS), BOI Group Operational Risk, Group Compliance and the Bank's Retail Branch Network.
Bank of Ireland selected a Pinnacle Senior Manager as Programme Manager for the (MiFID) programme in Bank of Ireland. Planning and coordination were core activities as the Directive had different implications for each Business Unit and all areas had to be reviewed and changed accordingly. The programme was implemented by working closely with business & compliance representatives from each Business Unit and both internal & external legal support.
The Work Content
The programme manager's responsibilities included
The implementation was successfully completed within the deadline set by the Financial Regulator.