BANKING-1747 - USA (Milpitas, California) - Investment Services - Deadline October 11,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BANKING-1747

Government authority located in Milpitas, California; USA based organization looking for expert vendor for investment services.

[A] Budget: Looking for Proposal

[B] Scope of Service:

(1) Vendor needs to provide investment services to the government authority located in Milpitas, CA.
- Provide full-time, investment management services in accordance with the City’s Investment Policy.
- Assist with reviewing and recommending any appropriate amendments to the City’s Investment Policy at the outset of the contract term and assist with the annual review and update of the Investment Policy.
- Assist the City with developing an appropriate cash flow model to minimize balances held in highly liquid but low interest accounts.
- Assist the City with maturity analysis.
- Discuss options to analyze and review socially and environmentally responsible investments.
- Work with the City’s third-party custodian (currently Bank of New York-Mellon) for safekeeping of securities and provide any services required to execute and settle investment trades.
- Recommend and justify appropriate investment benchmarks.
- Provide detailed monthly reports of investment portfolio activity, performance, holdings monthly, type, maturity, broker, duration, and benchmark comparable. Provide quarterly reports to the City Manager and City Council as required by the Policy.
- Be available to Finance Department staff in a timely manner by telephone or email and meet with and provide information to Finance Department staff, and if requested, to other interested parties such as the City Council and/or City Manager.
- Attend City Council meetings for the annual review of the investment policy.
- Provide assurance of portfolio compliance with all federal and State of California laws as well as ordinances, resolutions, and policies of the City relating to the investment of public funds.
- Annually perform due diligence reviews of the broker/dealers, custodian bank, and financial institutions utilized by the City and provide supporting documentation to the City.
- The selected firm will not act as a custodian of assets in the account or have possession of any such assets.
- The selected firm will act as a fiduciary agent to the City, serving as an independent advisor to represent the best interests of the City.
- Demonstrate independence from any financial institution or securities brokerage firm, or fully disclose any such relationships relevant to qualified investments for public sector entities.
- Keep City informed of changing economic conditions through flash emails, daily, weekly, and/or monthly reports including discussion of key economic indicators relevant to the regional, State, national, and global economies.
(2) All question had been due on September 24, 2019.

[C] Eligibility:

- Onshore (USA Only);

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Friday, 11 October, 2019

Question Answer Deadline : Tuesday, 24 September, 2019

Category : Banking Services

Country : USA

State : California

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