Award

ODD Support

PENSION PROTECTION FUND

This public procurement record has 1 release in its history.

Award

30 Sep 2024 at 15:28

Award Notice
Summary of the contracting process

The Pension Protection Fund (PPF) has completed the procurement process titled "ODD Support," classified under "Financial management consultancy services" (CPV 79412000). This award notice, published on 30th September 2024, pertains to the appointment of Mercer Limited as a back-up Operational Due Diligence (ODD) service provider. The procurement followed a selective method, specifically a call-off from a framework agreement, with the contract running from 9th September 2024 to 7th September 2028. The total value of the contract is £200,000, and the services are required to support PPF's ODD team primarily in Croydon, South East, United Kingdom.

This tender creates significant opportunities for businesses specialising in financial management consultancy, especially those capable of conducting in-depth ODD assessments within a 6-8 week time frame. While the requirement for services is anticipated to be low and on an ad-hoc basis, it provides an opportunity for large-scale consultancy firms with expertise in financial risk assessment and global jurisdictional experience. Mercer Limited, a well-established firm in this area, has been identified as the successful supplier, showcasing the demand for well-resourced, large consultancies in supporting governmental financial oversight activities.

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Notice Information

Notice Title

ODD Support

Notice Description

At present, the Operational Due Diligence (ODD) team within the PPF has dedicated individuals within the team to assess external Fund Managers prior to funding but there is currently no backup / contingency should additional resources be required or an individual leave. To avoid a situation whereby internal activities are effectively held up by a support function (due to a lack of resource), the ODD team need to appoint a back-up ODD service provider Support is required in the following two ways: 1. As a backup/contingency ODD service provider in the unlikely situation that the ODD cannot be staffed internally & 2. To provide ODD coverage in long-haul jurisdictions where the PPF have single Manger exposure. Volumes are anticipated to be particularly low with the successful supplier being used on an ad-hoc basis. When required, the supplier will be commissioned to undertake an in-person, deep-dive ODD assessment on a third-party investment Manager selected by the PPF. The expectation is that Mercer Sentinel will be able to produce a comprehensive ODD report (Operational Risk Assessment) within a 6-8-week timeframe (from the point of initial contact with the selected Manager).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-21030228-ec17-422e-bf98-7bfb78e1086d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/cff8def3-7f57-4206-8d50-ddeec7d0e22c
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79412000 - Financial management consultancy services

Notice Value(s)

Tender Value
£200,000 £100K-£500K
Lots Value
Not specified
Awards Value
£200,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
30 Sep 20241 years ago
Submission Deadline
6 Sep 2024Expired
Future Notice Date
Not specified
Award Date
5 Sep 20241 years ago
Contract Period
8 Sep 2024 - 7 Sep 2028 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
PENSION PROTECTION FUND
Contact Name
Not specified
Contact Email
commercialservices@ppf.co.uk
Contact Phone
Not specified

Buyer Location

Locality
CROYDON
Postcode
CR0 2NA
Post Town
Croydon
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI6 Outer London - South
Small Region (ITL 3)
TLI62 Croydon
Delivery Location
TLJ South East (England)
Local Authority
Croydon
Electoral Ward
Fairfield
Westminster Constituency
Croydon West

Supplier Information

Number of Suppliers
1
Supplier Name

MERCER

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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