RFI.pdf

Request for Information

Pension Benefit Guaranty Corporation (PBGC)

Custodian Banking Services

1. Description

1.1. The Pension Benefit Guaranty Corporation (PBGC) is seeking to procure custodian bank services to provide global master custody services for the safekeeping and asset servicing of plan assets, as well as custodian banking services for accounting and investment management services.

1.2. THIS IS A REQUEST FOR INFORMATION (RFI) ONLY. This RFI is issued solely for information and planning purposes – it does not constitute a solicitation or a promise to issue a solicitation in the future. This request for information does not commit the Government to contract for any supplies or services whatsoever. Further, PBGC is not at this time seeking quotations or proposals and will not accept unsolicited quotations or proposals. Respondents are advised that the U.S. Government will not pay for any information or administrative costs incurred in response to this RFI; all costs associated with responding to this RFI will be solely at the interested party’s expense. Not responding to this RFI does not preclude participation in any future solicitation, if any is used.

2. Background

2.1. PBGC’s organization relevant to Custodian Banking services is overseen by the Financial

Operations Department (FOD) and Corporate Investments Department (CID). FOD resides within the Chief Financial Officer (CFO) and administers and manages the Corporation’s financial and accounting programs and prepares the reports and financial statements for the Corporation. CID also resides within the CFO group and provides investment management services for plans assets trusteed by the PBGC and for assets managed. The current contract ends in 2024 and PBGC seeks to recompete the contract.

3. Responses

3.1. PBGC is seeking feedback on the following.

3.1.1. Safekeeping, Settlement, and Clearing: provide details on your safekeeping processes, including physical and electronic security measures. Outline your settlement and clearing procedures to ensure timely and accurate transaction processing.

3.1.2. Recordkeeping and Administration: describe your record-keeping systems and administration capabilities. Provide information on the technology platforms and tools used for record maintenance.

3.1.3. Delivery and Income Collection: Explain your delivery mechanisms for securities and the efficiency of your income collection processes.

3.1.4. Asset Servicing and Investment Accounting: Detail your asset servicing capabilities, including corporate actions, proxy voting, and other related services. Provide insights into your investment accounting procedures.

3.1.5. Securities Valuation: Explain your methodologies for securities valuation and pricing.

3.1.6. Investment Performance Reporting: Describe the tools and methodologies used for investment performance reporting.

3.1.7. Risk Analytics and Compliance Reporting: Provide an overview of your risk analytics capabilities and compliance reporting processes.

3.1.8. Short-Term Cash Investment: Explain your approach to short-term cash investment and the strategies employed.

3.1.9. Securitized Index Funds: What securitized index funds are offered by your company?

3.1.10. Internal Procedures, Policy, and Processes: Share details about your internal written procedures, policies, and processes relevant to custody services.

3.1.11. Retention of Assets: Provide information on how you ensure the proper retention of assets under custody.

3.1.12. Disaster Recovery: Detail your disaster recovery plans and the measures in place to mitigate operational risks.

3.1.13. Education Services: Outline any educational services or resources provided to clients for better understanding and utilization of your services.

3.1.14. Webpage Access with Report Capabilities: Describe the features and functionalities of your online platform, particularly webpage access with report capabilities.

3.1.15. Collection of Mortgages, Notes, Partnership Interests, Installment Payouts, or

Investment Liquidation: Explain your procedures for the collection and management of various financial instruments.

3.2. Your company’s response should include:

3.2.1. Company name and Unique Entity Identifier (UEI)

3.2.2. Company point of contact, phone number, and email address

3.2.3. Company’s socio-economic status under NAICS Code 523991: Trust, Fiduciary, and

Custody Activities

3.2.4. A document including comments on the requirements and performance standards.

3.2.5. Optional - Any other feedback to the Government.

4. Responses

4.1. Format

4.1.1. The respondent shall submit its response via email in either a Microsoft Word document or an Adobe PDF document. There is a five (5) page limit to your response.

5. Questions

5.1. Questions regarding this Request for Information (RFI) shall be submitted in writing by email to nguyen.au@pbgc.gov and preston.peter@pbgc.gov by 5:00 PM (ET) on Friday, 02/16/2024.

6. Summary

6.1. This is a Request for Information (RFI) only to identify sources that can provide the requested services to PBGC. The information provided in this RFI is subject to change and is not binding on the Government. PBGC has not made a commitment to procure any of the items discussed, and release of this RFI should not be construed as a such a commitment or authorization to incur cost for which reimbursement would be required or sought. All submissions become Government property and will not be returned.