1 RFP PROCESS FOR BANKING Presented by: Martin McConahay, District 39 Jackie Schimizzi, Consultant Kimberly Feeney, Bank of America.
Post on 17-Dec-2015
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RFP PROCESS FOR BANKING
Presented by:
Martin McConahay, District 39
Jackie Schimizzi, Consultant
Kimberly Feeney, Bank of America
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Agenda
Introduction of PresentersDefinition of a Request for
Proposal (RFP)Critical Issues RFP Process StepsDistrict #39 ExperienceQuestions & Answers
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Martin McConahay, Business Manager
Wilmette Public School District 39
Jackie Schimizzi, Consultant
Marketing and Treasury Services
Kimberly Feeney, Vice President
Bank of America
Presenters
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Request for Proposal - formal requestNeeds determined
Request for Qualifications – informal requestLooking at providers
Request for Information – informal requestWhat are our needs?Gathering of ideas
K
What is a Request for Proposal (RFP)?
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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?
Critical RFP Issues to address
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What do we do today and what are our needs, today and in the future?Who are the stakeholders in the process?What is our timeline?What is our universe of providers?What is our response criteria?
Critical RFP Issues to address
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What do we do today - Information Gathering Account Analysis – current services Current System and Procedures Reporting and Audit Requirements
What are our needs – today and in the future? Problem Areas
Reporting and Audit Requirements Goal
• determine targeted needs• eliminate weaknesses
Create a list of requirements in banking services
What do we do today and what are our needs today and in the future?
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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?
Critical RFP Issues to address
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School DistrictFinance StaffBuilding Personnel
Board of Education Community
M
Who are the Stakeholders in the Process?
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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?
Critical RFP Issues to address
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Establish a Realistic Timeline to include: Information Gathering and Analysis Phase Preparation and Issuing of RFP Bank Response Time Evaluate Responses/ Bank Selection Process School Board Meeting Schedule Implementation of Services
J
What is our Timeline?
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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?
Critical RFP Issues to address
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Geographic Factors Board Policy Political Considerations Provider Capabilities
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What is our Universe of Providers?
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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?
Critical RFP Issues to address
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Establish Clear and Measurable Criteria
Relevant to Your DistrictBank Criteria
• Local vs. Out-of-District
Quality Service Innovative ServicesCompetitive PricingReference Criteria
What is our Response Criteria?
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Write and Issue the RFP Evaluate the responsesAward the contract Implement the services
RFP Process Steps
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Write and Issue the RFP Evaluate the responsesAward the contract Implement the services
RFP Process Steps
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Be informative Provide detailed information State Objectives, selection criteria and timeline
Be interactive Schedule a Pre-bidder’s Conference, Allow for Questions Submission
Be Specific AFP questionnaire, References and Pricing
Adhere to governmental bidding requirements
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Writing and Issuing the RFP
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Write the RFP and issueEvaluate the responsesAward the contract Implement the services
RFP Process Steps
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Design Comparative Evaluation Matrix
Evaluating the Proposals
Bank A Bank B Bank C Bank D
Branch Location
>1 mile 1-2 miles 5 miles < 1 miles
Public Funds Specialist
yes no no yes
Total Fees
Balances
$1,040
975,000
$1,290
$1,129,500
$950
Not provided
$1,150
$1,325,00
Price Guarantee
2 years 3 years 3 years 2 years
Phoenix Hecht Ratings
B A-/B C B-
Understands Needs
A- B+ B A
Quality of RFP A- B A B-
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Evaluate and Summarize each Bank’s Response Analyze Pricing:
Rank Fee and Balance Compensation
Acknowledge One-time Set-up Fees/ Exception Items
Select Finalists Check references Schedule Presentations
• District to provide Agenda
Evaluating the Proposals (Cont.)
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Write the RFP and issueEvaluate the responsesAward the contract Implement the services
RFP Process Steps
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Unbiased DecisionData and process driven decision
• Data Collection• Deadlines• Evaluation Criteria
Present findings to your Board with recommendations Formal Board approval
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Awarding the Contract
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Write the RFP and issueEvaluate the responsesAward the contract Implement the services
RFP Process Steps
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Important step to ensure successMutually agreeable plan timelineReview and acceptance of servicesDedicated Team
District• Support from management
Bank Go-liveK
Implementing the Services
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