Fixed Income Manager
Added: Nov 25, 2009 10:05 am Synopsis - Fixed Income ManagerThis Synopsis is not a Request for Proposal (RFP) or Request for Quotation (RFQ). The attached Draft Statement of Work may be subject to change and is provided for informational purposes only.The Employee Retirement Income Security Act of 1974 (ERISA) established Pension Benefit Guaranty Corporation (PBGC) as a federal corporation to encourage the growth of defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum. Defined benefit pension plans promise to pay a specified monthly benefit at retirement, commonly based on salary and years on the job. PBGC, a wholly owned United States Government corporation, administers the insurance program and termination process for most private-sector defined benefit pension plans that are tax-qualified under the Internal Revenue Code. PBGC is headed by a Director who reports to a board of directors consisting of the Secretaries of Labor, Commerce, and Treasury, with the Secretary of Labor as Chairman. General tax revenues do not fund PBGC. PBGC collects insurance premiums from employers that sponsor insured pension plans, earns money from investments and receives the assets of the pension plans it terminates.The Investment Manager (hereinafter referred to as contractor) shall provide active investment management services for fixed income portfolios that will provide over a full market cycle, a total rate of return which exceeds the benchmark of the respective portfolio, consistent with appropriate levels of risk.Investments of trust fund assets for this mandate may include fixed income and derivative products that are obligations of both domestic (U.S.) and non-U.S. issuers. The contractor shall exercise best efforts to select securities suitable and appropriate to the PBGC's mission. The contractor shall be responsible for providing active investment management and related services for fixed income portfolios. The portfolios may be in one or more of the five fixed income strategies listed below:Strategies:1. Core Fixed Income2. Global Fixed Income3. Long duration Fixed Income4. Emerging Markets Debt5. High Yield
PBGC-10-1124 Pension Benefit Guaranty Corporation
11/25/09, 10:05 AM Loan loss factor model
Added: Jul 03, 2014 12:00 pm BACKGROUND. The Export-Import Bank of the United States (Ex-Im Bank) is a United States government corporation and agency of the United States. In the 2012 fiscal year Export-Import Bank of the United States (Ex-Im Bank) began an internal review of its reserve area with the goal of identifying qualitative adjustments to its core reserving process. Furthermore, in both FY 2012 and FY 2013 the Bank further improved its quantitative model for reserving. The effort resulted in several qualitative factors both inside and outside the quantitative model. This model has been reviewed at a high level by both the Office of Management and Budget (OMB) and the Government Accountability Office (GAO).SCOPE. The scope of the project is to be focused on Ex-Im Bank's reserve for loans and guarantees in regard to the design of its loss factor modeling. Specifically:1. All quantitative factors used in the model2. All of the qualitative factors used in the model3. The reasonableness of the data that is used for both the qualitative and quantitative factors.REQUIREMENTS.General. Ex-Im Bank now needs a comprehensive review of its underlying loss data along with the quantitative and qualitative model to enhance and validate its methodology. Ex-Im has requested the Contractor to perform an analysis of the loss data, quantitative, and qualitative adjustments in regard to the following tee areas:• Reasonableness of the quantitative model including a review of the underlying data.• Reasonableness of the qualitative on-tops that are used by the Bank • Potential enhancement considering both the loss reserve calculation and predictive loss forecasting capabilities.The Contractor shall possess expert knowledge in the area of loss reserve modeling including knowledge of how to calculate probability of default, exposure at default, and recovery rates. In addition, the contractor shall possess expert knowledge with regards to qualitative on-top adjustments to loss reserve modeling. Finally, the contractor shall possess expert knowledge to ascertain the process of assembling, extracting and reconciling Excel-based spreadsheets and adjustments to source inputs including, but not limited to, the underlying credit risk rating process and the loan/guarantee populations.Task Areas. The Contractor will provide the following:• Task 1 - Project Background and Summary of Existing Reserve Process: - A summary of the scope and nature of the project, i.e. what it is and what it is not.- A brief description of Ex-Im Bank's current reserving process, e.g. nature of underlying data, the quantitative model, and the qualitative on-tops. • Task 2 - Procedures and Analysis:- A summary of the procedures performed by the Contracting on Ex-Im Bank's entire loss factor modeling. • Task 3 - Results, Observations and Recommendations:- Discussion of the results and observations around the loss factor modeling.- Observations and Recommendations in regard to:o Appropriateness/Reasonableness of each qualitative and quantitative factor on the reserve process.o Potential new factors Ex-Im Bank may want to consider in its loss reserve process over time. o Factors Ex-Im Bank may want to consider regarding predictive analysis capability.o Reasonableness of the underlying data which is used in the modeling process.The NAICS code is 523920 (Portfolio Management), with a small business size standard of $35,500,000. In order to be eligible for award, all responsible sources must be registered with System for Award Management (SAM). Contractors may register online at the website, www.sam.gov.This solicitation will be a best value Firm Fixed-Price (FFP) Request for Proposals (RFP) subject to FAR Part 15.101-1 procedures. To be considered acceptable, offerors shall specifically address each of the evaluation factors set forth in the solicitation. Sufficient detail should be provided citing specific data as may be required, such that the proposal may be adequately evaluated. The government anticipates release of the solicitation on or about July 18, 2014 and making an award on or about September 5, 2014. These dates are approximate and subject to change. The proposal due date would be scheduled for 30 calendar days after the date the solicitation is made available.The media selected for issuance of Synopsis/Solicitation and amendments shall solely be at the discretion of the Government; accordingly, the media utilized for this project shall be the internet. Interested parties may download and print the solicitation and any amendments from the FedBizOpps website http://www.fbo.gov. Interested parties are responsible for monitoring the FBO website for the most up-to-date information concerning this forthcoming solicitation. Paper copies of the solicitation and any amendments will not be distributed. Upon issuance of the solicitation, there will be an identified question and answer period.The Government reserves the right to cancel the solicitation either before or after the proposal opening with no obligation to the offeror by the Government. Once the solicitation is posted, it is the responsibility of all interested parties to review the site for any updates/amendments to documents. Further inquiries regarding solicitation must be sent to Leon Borroum, Contract Specialist at leon.borroum@exim.gov, and William Boyd, Contracting Officer at william.boyd@exim.gov.
EXIM-14-Q-0052 Export Import Bank of the US
7/3/14, 12:00 PM PBGC intends to increase the Fixed income Investment Managers from its current level to provde more manager diversificatgion. PBGC anticipates hiring multiple managers capable of managing fixed income assets in two or more fixed income strategies.
Added: Dec 17, 2009 6:21 pm The investment manager (hereinafter referred to as contractor) shall provide active investment management services for fixed income portfolios that will, over a full market cycle, provide a total rate of return which exceeds the benchmark of the respective portfolio, consistent with appropriate levels of risk. Investments of Trust Fund assets for this mandate may include fixed income and derivative products that are obligations of both domestic (U.S.) and non-U.S. issuers. The contractor shall exercise best efforts to select securities suitable and appropriate to the PBGC's mission. Diligent effort shall be exercised to avoid the purchase of a security where the PBGC is likely to terminate the issuers underfunded pension plan. I. SCOPE OF WORK The contractor shall be responsible for providing active investment management and related services for fixed income portfolios. The portfolios shall be invested in one or more of the five fixed income strategies listed below: Strategies: 1. Core Fixed Income 2. Global Fixed Income 3. Long Duration Fixed Income 4. Emerging Markets Debt 5. High Yield
PBGC01-RP-10--0003 Pension Benefit Guaranty Corporation
12/17/09, 6:21 PM