Financial product recording and administration discovery

Tender description

Summary of the work UK Export Finance are looking for a partner to assist in a discovery to improve the systems and processes it uses to manage its products once they have been issued and when customers are on-cover (often referred to as Loans and Guarantees Administration). Expected Contract Length 8 weeks with a potential for a 4 week extension Latest start date Monday 6 September 2021 Budget Range £150,000 - £220,000 Why the Work is Being Done The system that UK Export Finance (UKEF) records its deals and products on was implemented in 2004. The contract ends in mid-2023, so this discovery is looking at what the organisation will need to support its visions of the future. With the time that procurement of replacement(s) will take and then implementation, the discovery will need to be completed in 2021. UKEF would be looking for an initial set of User Stories, an options paper including desktop research on a possible set of solutions and information to help support a business case. Problem to Be Solved UK Export Finance needs to be able to record, report on, track and administer the various types of financial product that it offers. The current system has been overtaken by the needs of the organisation. With significant investment in other transformation, including case management, UK Export Finance requires new system(s) to support its business as well as ensuring that it continues to remain flexible and reactive to customer needs. Who Are the Users There are multiple user groups, all internal to the organisation. These include: As an Underwriter, I need to know that the deal is recorded correctly as it has been agreed so that the exporter is correctly covered As a member of the claims team, I need to be able to raise claims against specific products so that the exporter or buyer can be reimbursed As a member of the Post-issue team, I need to be able to understand any actions UK Export Finance need to manage on a particular deal so that the deal is maintained As a member of the finance team, I need to know the inflow and outflow of 'cash' from the organisation so that I can manage the organisation finances As a member of the Risk Group, I need to understand how much we are covering, with which companies and where so I can manage the portfolio of deals. Early Market Engagement Additional information for suppliers can be found at https://www.contractsfinder.service.gov.uk/Notice/2d716d44-f0ab-4306-8b61-1e2201f4ad57 Work Already Done By the time the discovery starts, there should be full maps of the 'As-Is' business processes and some of the 'To-be'. These are currently in production Existing Team Working with Internal Project Manager, Enterprise Architect and Business Analyst. Some interactions expected with other project and service teams including process redesign (internal and contractors), the case management (Internal and KPMG) and some of the product stream work (mainly internal). Current Phase Not started Skills & Experience • An outline of how you will deliver this discovery using a completed example of delivering change in a similar organisation (2%) • Experience of documenting rationale for make or buy recommendations and providing information for a business case (2%) • Experience in collating organisational change, design decisions while ensuring stability of the core services during transition (insourcing, outsourcing, transition between models, exit and transition of suppliers). (2%) • Experience of market trend analysis and providing options appraisal (2%) • Experience in delivering evidence-based research to inform a user-centred information architecture; focused on user needs, end-to-end user journeys, regulation and policy (2%) • Evidence of delivering Discovery projects in line with Service Standard (2%) • Demonstration of collaborative working practices, with experience working on a project that involves a complex system of stakeholders (2%) • Experience establishing data systems for operation in a highly-regulated environment where transparency is a pre-requisite (2%) • Have experience of conducting primary and secondary research, and presenting these findings into clear and concise reports. (2%) Nice to Haves • Organisation experience of trade finance, lending or insurance software and development (1%) • Evidence a good understanding of best practice information management to assist in the development of structured data (1%) • Experience of working with public services that involve regulation, compliance and enforcement - for example Central Government and/or Arm's Length Bodies (1%) • Experience of working under regulation and compliance in the financial sector (1%) Work Location 1 Horse Guards Rd, London SW1A 2HQ Working Arrangments UK Export Finance will be running on a blended model of 2-3 days in office and remotely after COVID restrictions are lifted. It is likely that this will mean a mixture of face-to-face and remote workshops, planned for majority remote. Security Clearance All Supplier resources must meet the Baseline Personnel Security Standard (BPSS) but suppliers should note there may be a requirement for certain individuals to have "SC clearance Additional T&Cs The successful supplier will be required to sign a non-disclosure agreement (NDA) All expenses must be pre-agreed with between the parties and must comply with the UKEF Travel and Subsistence (T&S) Policy. No. of Suppliers to Evaluate 4 Proposal Criteria • Proposed approach and methodology to conduct Discovery, considering both technical and cultural streams of work (10%) • Provide an example where you have documented the rationale for make or buy recommendations and provided information for a business case (8%) • Multi-disciplinary team structure covering user research, technical expertise, data and indication of split of time / contributions (8%) • Delivery plan to deliver within the stated time frames (6%) • Evidence of a previously delivered successful discovery, focused on a legacy system (6%) • Presentation-question: Demonstrate an outline of how you will deliver this discovery using a completed example of delivering change in a similar organisation (10%) Cultural Fit Criteria • Experience of working with an internal team that operates in an agile way and requires liaison and alignment with an organisation who do not (2%) • Give an example of how you work with clients and stakeholders with lower levels of technical expertise (2%) • Explain your approach to transferring knowledge to permanent staff within a client organisation with stakeholders that may demonstrate aversion to change (2%) • Explain your approach to embedding into a public sector organisation (%) • Different-organisations-may-have-insights-into-new-ways-of-working-that-we-are-looking-to-promote. DIT-is-keen-to-ensure-that-its-supply-chain-includes-a-diverse-range-of-businesses-e.g. new-businesses-and-entrepreneurs,-start-ups,-SME's,-VCSE's-&-mutuals. Explain-how-you-will-support-this-goal(2%) Payment Approach Capped time and materials Assessment Method • Case study • Work history • Reference • Presentation Evaluation Weighting Technical competence 70% Cultural fit 10% Price 20% Questions from Suppliers 1. Please could you confirm whether suppliers are permitted to use multiple examples in a single answer? You may submit one or multiple examples in a single answer, noting the word count. 2. Will the authority sponsor SC clearance, should this be required? Authority can sponsor if required, however any requirements would be good to understand at the 2nd stage to understand the time impact. 3. For the skill: ‘Experience in collating organisational change, design decisions while ensuring stability of the core services during transition (insourcing, outsourcing, transition between models, exit and transition of suppliers)’? Are you seeking evidence about the supplier’s ability to recognise the risks and challenges of transitioning to a prospective service, and providing options and guidance to mitigate risks and ensure a ‘stable’ transition [to the new service]? Please clarify. Yes we are looking for evidence about the supplier’s ability to recognise the risks and challenges of transitioning to a prospective service, and providing options and guidance to mitigate risks and ensure a ‘stable’ transition 4. For the Stage 2 proposal cultural fit criteria around supporting DIT in maintaining a diverse supply chain, is there a minimum pass threshold for this criteria, and what level of support is expected in this area, given that a relatively small team is required for this engagement? More guidance will be provided at the 2nd stage of the procurement 5. Is there an incumbent supplier delivering the existing work that is to be completed by the time this Discovery starts? No incumbent - pre discovery work is being completed internally