PBGC RFP 16PBGC24R0010 Attachment 4 - Phase II Procedures Processess and Policies Verification.pdf

Attachment 4 – Phase II Procedures, Processes, and Policies Verification Custodian Banking Services Request for Proposal No.: 16PBGC24R0010

In accordance with Section 3.2 of the Statement of Work, the Custodian Bank shall have written procedures, processes, and policies for recurring custodian accounting support services. The offeror shall state if they have or will have these written procedures in place no later than ninety (90) calendar days after contract award. Please verify this information by marking the appropriate box below and providing an authorized signature on this document with the submitted proposal.

1. Written Procedures:

Have Will Have ☐ ☐ Pricing and maintaining holdings for alternative investments (private equity, real estate funds, etc.) including the frequency of pricing and pricing resources;

Have Will Have ☐ ☐ Accessing and applying exchange rates for all types of transactions and position valuations;

Have Will Have ☐ ☐ Tax lot accounting and reporting procedures including all purchase cost options using average cost for U.S. and non-U.S. securities;

Have Will Have ☐ ☐ Establishing entitlements and automated accruals for dividends and interest posted to PBGC accounts;

Have Will Have ☐ ☐ Calculating with accuracy and timeliness receipts of U.S. and non-U.S. income and capital changes reported by your depositories, agents, and sub-custodians;

Have Will Have ☐ ☐ Monitoring and resolving income suspense and unclaimed income amounts; and

☐ ☐ Ensuring reported data is valid and accurate.

Attachment 4 – Phase II Procedures, Processes, and Policies Verification Custodian Banking Services Request for Proposal No.: 16PBGC24R0010

2. Written Process:

☐ ☐ To reverse accruals and correct any accounting errors to include correcting acquisitions, processing expense payments for trusteed plans upon Date of Trusteeship (“DOTR”).

Have Will Have ☐ ☐ To validate prices when using information from the supplemental sources and a policy for securities which are not traded daily, including those which are hard to value.

Have Will Have ☐ ☐ To make available historical data. Historical accounting data shall be available on-line for PBGC’s current and prior fiscal year and additional history shall be restored for electronic or hardcopy access upon request.

3. Written Policy:

Have Will Have ☐ ☐ For each country in which clients invest (including U.S.), to include crediting income payments in same day funds, interest and dividends, when payments are credited, and exceptions.

Have Will Have ☐ ☐ For maintaining all necessary internal controls, including complete documentation on all custodian activities, and maintain records in accordance with GAAP, including double entry accounting.

The Custodian Bank shall make available, all identified in this contract, written procedures, processes, and policies to PBGC within thirty (30) calendar days upon written request.

I certify that _________________________________________________ either have or will have within ninety

(90) calendar days of contract award all written procedures, processes, and policies in accordance with Section 3.2 of the Statement of Work which are listed here within.

Printed Name Signature

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