United Kingdom-Preston: Systems consultancy services
Section I: Contracting authority
Main address: https://www.localpensionspartnership.org.uk/
Section II: Object
Portfolio management system and outsourced middle office
LPP has conducted a review of its investment operations systems and processes which concluded that LPP could implement changes to its current model to improve operational risk resilience and delivery of regulatory compliance. Recommended improvements would also seek to deliver a more scalable model which would aim to be the best in its class and deliver a higher quality service to clients. LPP recognises that internal resources lack the capacity and market expertise to provide complete support to a programme which can deliver the recommendations of the review and is, therefore, seeking specialist consultancy support along with a comprehensive understanding of LPP’s particular operating environment.
This procurement is being managed by Proxima Group on behalf of the Local Pension Partnership Limited (LPP)
It is LPP’s intention to upgrade the systems and processes supporting its regulated investments business, LPP I, and to outsource its middle office function in order to benefit from a greater breadth of expertise and the increased value provided by a specialist provider. It is seeking a consultant to act as a partner, bringing the expertise of operating models, outsourcing and project management and delivery. This is being formalised in the following 2 workstreams:
1) The selection and implementation of Portfolio Management Systems (PMS). The delivery portfolio management systems to support public and private market asset classes will be coordinated with the outsourced middle office. It will select, contract, deploy, configure and test the system before migrating LPP’s portfolios onto it as the middle office services are begun. The workstream includes training of users and enhanced support during initial operations.
2) The implementation of an operating model based on an outsourced middle office. The middle office workstream will deliver an enhanced investment operations process, preparing the model for additional clients, instrument and investment types and client reporting needs. The workstream will define the detailed processes between LPP and its custodians and agreed contracts, commercials and associated service level agreements before integrating the outsourced middle office services into LPP’s new Portfolio Management System.
For further information please contact Jo Bond at Proxima Group on the contact details contained within.
This contract notice.
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Section III: Legal, economic, financial and technical information
Section IV: Procedure
Section VI: Complementary information