4-Attachment B - Scope of Work.docx

Attachment B

MARLO M. OAKS

STATE TREASURER OF UTAH

Scope of Work - Technology and Financial Policy Consulting Services

1. Background and Purpose

The Utah Office of State Treasurer is seeking specialized technology and policy consulting services to support initiatives involving emerging financial technologies and payment systems.

The consultant will provide technical expertise to assist the office with the procurement of a private-sector platform capable of supporting precious metals electronic transactions, including supporting technical evaluation during the request for proposals (RFP) process. The consultant will also provide technical research and analysis related to programmable money and other emerging payment technologies to inform potential state policy and legislative considerations.

The purpose of this engagement is to supplement the office's policy expertise with specialized knowledge of software architecture, digital payments, financial technology, cybersecurity, and emerging technologies.

2. Scope of Work

The consultant will provide services in the following areas:

1. Advise the office on the qualification of precious metals electronic payment platform(s), including:

· Develop and review technical specifications, system and security requirements, interoperability standards, and other technology-related provisions of the RFP.

· Help ensure requirements are appropriately scoped without unnecessarily limiting competition or prescribing a particular platform architecture.

· Provide technical expertise during the procurement process, including responding to technical questions and evaluating proposed technologies, architectures, security controls, and implementation approaches.

· Assess technical feasibility, cybersecurity, data protection, system integration, transaction processing, and related platform considerations.

· Identify technical and implementation risks and recommend potential mitigation strategies.

· Provide technical consultation during vendor selection and implementation planning, as requested.

2. Provide technical and policy expertise related to programmable money and emerging financial technologies, including:

· Evaluate how technical design and implementation choices may affect privacy, security, individual control, financial data, transaction restrictions, interoperability, and other policy considerations.

· Assess the technical feasibility and practical implications of proposed policy or legislative approaches, including potential implementation challenges and unintended consequences.

· Provide technical input to help the office evaluate and develop technologically workable policy and legislative concepts.

· Participate in discussions with policymakers, government agencies, financial institutions, technology providers, and other stakeholders, as requested.

3. Deliverables Deliverables may include:

· Technical recommendations and specifications for the precious metals electronic payment platform RFP.

· Review and written or verbal feedback on draft procurement documents.

· Technical analysis of vendor proposals and proposed solutions, as requested.

· Written memoranda, briefing materials, research, or recommendations concerning programmable money and emerging financial technologies.

· Technical review of proposed legislation, statutory language, policies, or program requirements.

· Participation in meetings, presentations, procurement discussions, and stakeholder discussions, as requested.

· Other related technical and policy advisory services requested by the office within the scope of this engagement.

4. Performance Expectations The consultant will work under the general direction of the Utah Office of State Treasurer but will exercise independent professional judgment regarding the manner and methods used to perform the services. The consultant is expected to provide objective technical and policy analysis and to identify material risks, alternatives, and considerations relevant to the office's decision-making.

The consultant will not have authority to make procurement, contracting, policy, or legal decisions on behalf of the state. Final decisions will remain with authorized state officials.

5. Desired Qualifications The consultant should possess substantial professional experience in software architecture, financial technology, digital payments, cybersecurity, or related fields. Particularly relevant experience may include:

· Enterprise software architecture and development;

· Banking, financial services, or payment technologies;

· Digital wallets and electronic payment platforms;

· Cybersecurity and secure software development;

· Cloud and distributed systems;

· Blockchain or distributed ledger technologies;

· Translating technical concepts and risks for policymakers and nontechnical decision-makers; and

· Evaluating emerging technologies from both technical and public-policy perspectives.

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