ESBD_391790_1739309073427_TRS000555_Addendum 1_Final.pdf

Solicitation Name: Technical Training Services Solicitation Number: TRS000555 Addendum Number: 1

Teacher Retirement System of Texas (TRS)

February 11, 2025

ADDENDUM No.: 1

TO

SOLICITATION NO.: TRS000555

FOR

Technical Training Services

DEADLINE FOR SUBMISSION OF PROPOSALS: February 20, 2025, @ 5:00 p.m., Central time

LISTED BELOW YOU WILL FIND RESPONSES TO SUBMITTED QUESTIONS AND CHANGES TO THE

SOLICITATION AND THE VENDORS AI TECHNOLOGY QUESTIONNAIRE (AS EXHIBIT A).

ISSUED BY:

Dietrich Sanders, Contract Specialist

Date: February 11, 2025

NOTE: VENDORS ARE REQUESTED TO ACKNOWLEDGE RECEIPT OF THIS ADDENDUM BY

SIGNING AND DATING BELOW AND INCLUDING WITH SUBMITTED RESPONSE. RESPONSE MAY

BE CONSIDERED NON-RESPONSIVE IF THIS COVER PAGE IS NOT SIGNED AND RETURNED.

RESPONDENT SIGNATURE DATE

QUESTIONS AND ANSWERS

1. How many participants are you looking to train?

TRS Response: Please see Page 27, Scope of Work, Item C. Description of Work, Number

5.

2. What is the goal of the requested training?

TRS Response: To enhance the participants knowledge and skills in the specific area of training so they can ultimately apply these skills (albeit finance specific such as modeling or excel).

3. Do participants have any previous experience?

TRS Response: Please see the answer to Question 1.

4. What are the key skills / performance gaps that you are looking to address?

TRS Response: Broad strokes general technical skills (e. Excel, python, PowerBI) and Finance Specific (E.g., financial modeling).

5. What would an ideal solution look like to TRS?

TRS Response: Ability to provide off the shelf trainings that upskill employees in the areas defined that are mentioned in TRS’s response to Question 4.

6. What is timing for making a decision / to run the training programs?

TRS Response: We are running them on an as needed basis. We typically identify various courses at the start of the year and then work with our vendor to determine specific dates.

7. Is the purpose of this RFP to assess our overall capabilities as a training provider and/or our ability to deliver a specific structured learning program?

TRS Response: To assess capabilities on technical trainings specifically.

8. How much time are you willing to dedicate to training?

TRS Response: We prefer trainings that are half day or less but are willing to do full day for more complex topics that require it.

9. Are you seeking a new hire orientation training program? If so, what is your ideal program length in consecutive days? What month would an orientation training program take place?

TRS Response: No, we are not seeking new hire orientation training programs.

10. For new hire training, how many hires do you onboard per cycle?

TRS Response: Please see the answer to Question 9. We do not onboard a mass group at a specific time. Rather we are seeking level specific training. For our juniors these might be new hires or could be people who have been in role for a couple of years.

11. Are you also seeking ongoing training for tenured employees? If so, do you have a preferred cadence for sessions? Bi-weekly, monthly, etc.

TRS Response: Yes, ad hoc basis. Likely looking to have four (4) to six (6) technical training courses a year, three (3) to four (4) juniors, one (1) middle-level, and (1) senior-level.

12. The RFP mentions training for up to 20 participants. What are their job roles?

TRS Response: Most our employees are Investment Managers on the buy side. We also have back-office folks who would be interested in general technical training such as excel, python, PowerBI.

13. What is the experience level of the participants?

TRS Response: Please see the answer to question 1.

14. Would you be interested in on-demand, self-directed learning options?

TRS Response: Yes, TRS would be interested in on-demand, self-directed learning options.

15. What are the typical job responsibilities of the training participants?

TRS Response: Please see the answer to Question 12.

16. What are the primary business drivers for this RFP (e.g., cost, training consistency, scalability)?

TRS Response: Training consistency is the driving force behind this RFP.

17. What challenges or concerns exist with your current learning initiatives?

TRS Response: The need is more to grow our employees and help develop them vs fixing a problem or challenge.

18. What desks are the participants assigned to? Do they rotate?

TRS Response: We have public markets some who pick managers and directly invest in funds, and private markets (PE, Real Estate and Energy, Natural Resources, and Infrastructure) All are on the buy side. Generally, no rotation.

19. If the participants are new hires, what are their educational backgrounds (e.g., finance majors)?

TRS Response: Please see the answer to Question 9.

20. What key areas of improvement are you aiming to address with training?

TRS Response: Looking to help develop employees as they grow to the next level.

21. What specific skills or competencies should participants develop by the end of the training?

TRS Response: We would like each training to be targeted to a specific technical skill and the participants be able to apply their knowledge to that.

22. What aspects of your current training initiatives have been successful and should remain unchanged?

TRS Response: We always like to have pre training calls to discuss the curriculum in advance.

23. Will non-investment functions also participate in the program?

TRS Response: For the general technical training skills such as PowerBI, Excel, etc.

24. Do you have target dates for the training sessions?

TRS Response: We would like to start implementing these second half of 2025.

25. What is the intention for a multi-vendor approach? Do you plan to separate verticals (e.g., technical skills, data skills, professional skills) or do you want multiple provider options available to you?

TRS Response: We understand that different vendors specialize in different areas and want to be able to train on a wide variety of topics. For example, some vendors might specialize in excel, others in Python, others in Financial Modeling.

26. How do you define and measure success in training engagements?

TRS Response: Post training survey responses and post assessments.

27. Have you previously used pre-work or self-study modules? Would you be interested in incorporating them going forward?

TRS Response: We have access to Udemy which is self-study. Definitely open to incorporating pre-work or self-study modules.

28. Are there any technical requirements that may impact delivery (e.g., Learning Management System (LMS/LXP) integration, platform compatibility)?

TRS Response: There are no technical requirements that may impact delivery.

29. Are there any constraints we should be aware of, such as budget limitations or technology requirements?

TRS Response: We are not looking to integrate a new technology platform into our system. That said, we would be interested in using any on demand platforms that a company has, so long as there is no need to integrate them into our system.

EXHIBIT A: AI TECHNOLOGY QUESTIONNAIRE

(This document is only an example. Actual document to be completed in PAVES)

ARTIFICIAL INTELLIGENCE

ASSESSMENT FORM (AIAF)

Note: All questions regarding Artificial Intelligence Usage at TRS in respect to this assessment form should be directed to the TRS Procurement Professional point of contact.

Artificial Intelligence Vendor/Provider Name: Date:

Address: Website:

Support Contact: Email: Phone:

Artificial Intelligence Contact: Email: Phone:

Name of the Services/Products:

Question Response

What is your AI’s core technology, architecture, and algorithm?

Describe any pertinent AI outsourced, contracted, subprocessor, third- or fourth-party technologies used in your AI architecture.

If architecture is associated with an LLM, describe the temperature and top_p controls your AI technology provides. Will TRS have control over these parameters?

What stage is your product in:

procurement, development, testing, or production?

Describe how the AI technology is integrated into your product.

Describe the purpose of your product and its capabilities.

Describe the specific inputs and outputs utilized by the AI technology.

How is the input data generated, collected, and processed?

How is the output tracked and logged?

Provide examples of logging data.

What is your model’s performance in real-time applications?

How does your AI integrate with our existing systems?

How is your AI model updated and improved over time?

What is your AI technology roadmap for future development?

Can your AI model be customautoized to our specific needs?

What data does your AI require for training?

How do you ensure your AI model’s accuracy? Describe your validation process.

Has your AI technology been independently tested for bias and fairness?

Does your product have a known bias?

How do you ensure interpretability and transparency in your AI technology and processes?

What kind of support and training do you provide? End-user and administrative training are required.

How do you ensure data security and privacy?

Will the AI technology be used for automated decision-making?

If yes, will the AI technology used in automated decision-making be a FINAL (no human oversight) or SUPPORTED (human oversight required) system?

Does the AI technology draw upon intellectual property of another person or entity?

How are permissions obtained to use such works or remove such works from the output if you do not obtain permission?

How does your AI provide for explainability in its usage?

What are the benefits of your product?

What is the total cost of ownership of your AI system?

What cost savings are achieved through the use of your product, if any?

Can you provide references from other clients in our industry?

Can we conduct a pilot or proof-of-concept project?

For TRS Use Only

Comments:

Reviewed By: _____________________________

Approved: ☐ Rejected: ☐

Business Justification if Rejected: