2327964 - SQL0551N Error for DB2 Modules

During system maintenance operations like an SAP upgrade, you see errors like the following:

SM21 System log:

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SQL0551N The statement failed because the authorization ID does not have the required authorization or privilege to perform the operation. Authorization ID: "SAPXXX". Operation: "REPLACE MODULE". Object: "xxx.<module_name>". LINE NUMBER=1. SQLSTATE=42501
Database error -551 at EXE

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In the correspondent developer trace (dev_w*.log):

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C *** ERROR in ExecuteDirect (BEGIN)

C &+ dsql_db6_exec_immediate( SQLExecDirect ): [IBM][CLI Driver][DB2/LINUXX8664] SQL0204N "SAPXXX.<function_name>"
C &+ is an undefined name. SQLSTATE=42704
C &+
C &+ DROP SPECIFIC FUNCTION <function_name>
C &+
C &+
C &+ ABAP location info 'CL_SQL_STATEMENT==============CP', 74
C &+
C *** ERROR in ExecuteDirect[] (END)
C *** ERROR in ExecuteDirect[] CON = 0 (BEGIN)
C &+ dsql_db6_exec_immediate( SQLExecDirect ): [IBM][CLI Driver][DB2/LINUXX8664] SQL0551N The statement failed because
C &+ the authorization ID does not have the required authorization or privilege to perform the operation. Authorizati
C &+ on ID: "SAPXXX". Operation: "REPLACE MODULE". Object: "XXX.<module_name>". LINE NUMBER=1. SQLSTATE=42501
C &+
C &+ CREATE OR REPLACE MODULE <module_name>
C &+
C &+
C &+ ABAP location info 'CL_SQL_STATEMENT==============CP', 74
C &+
C *** ERROR in ExecuteDirect[] (END)
B ***LOG => sql error -551 performing EXE [dbds 670]
B ***LOG => SQL0551N The statement failed because the authorization ID does not have the required authorization or privilege to

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DB2 on LUW, SAP NetWeaver 7.4 or higher

RUTCNVFUNCCRE1, Transfer Ownership, DDIC, ABAP Dictionary. CURRCONV , DB6CDS , KBA , BC-DB-DB6 , DB2 Universal Database for Unix / NT , Problem