Tender

TEN-1920-030 Compliance Services Nest Invest

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)

This public procurement record has 1 release in its history.

Tender

13 Feb 2020 at 16:08

Tender Notice
Summary of the contracting process

The National Employment Savings Trust (NEST) has initiated a procurement process for "TEN-1920-030 Compliance Services Nest Invest," aimed at securing expert compliance advisory services for regulated occupational pension schemes. The contract is set to commence on 1 April 2020 and will run until 31 March 2021, with a possibility of a one-year extension until March 2022. This open tender, which falls under the financial consultancy category, has a submission deadline of 6 March 2020. The tender documents are available online, detailing the expertise required and the expectations for service continuity in managing compliance matters with the FCA.

This tender presents an excellent opportunity for consultancy firms with experience in financial compliance, particularly those familiar with FCA regulations and occupational pension schemes. Businesses capable of providing strategic advice, developing monitoring plans, and offering robust support during regulatory examinations will find this procurement highly relevant. NEST seeks suppliers who can deliver high-quality service whilst maintaining a strong relationship with its compliance management team, making it ideal for SMEs with the capability to handle complex compliance requirements and multiple client engagements simultaneously.

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Notice Information

Notice Title

TEN-1920-030 Compliance Services Nest Invest

Notice Description

Please be advised that the tender documents relating to this opportunity can be found at the following link: https://nesttenders.bravosolution.co.uk/web/login.shtml -- 3.1 Nest are seeking to procure a contract for the duration of1 April 2020 until end March 2021, with the option to extend for an additional year, ending end March 2022. We are looking for expertise across the following areas. We are seeking expert knowledge and guidance based on the FCA Handbook. It is paramount that its requirements are interpreted correctly to Nest/Nest Invest Ltd; 3.2 Prospective bidders should have experience of providing compliance services for regulated occupational pension schemes. 3.3 The supplier will provide a point of contact and a regular account team for continuity and familiarity on the account. 3.4 Nest Invest Ltd will seek advice and direction on managing the day to day relationship with FCA, with the aim of maintaining a good reputation where called upon. 3.5 We will require the supplier to have the capacity to manage and respond to multiple queries and issues at any single time with an adequate resource to maintain high quality service. 3.6 The supplier will be responsible for the planning of and execution of an appropriate Compliance monitoring plan. The plan will be designed and executed in consultation and collaboration with Nest's Compliance Management team. Any changes to Nest's business operations will be factored into the plan and would be amended as necessary. Each review will be conducted on a timely basis, in line with a mutually agreed plan and timeframe to a high-quality level. 3.7 An assessment of the existing FCA compliance programme and provide recommendations to updates to clients existing compliance documentation including the compliance manual, compliance monitoring programme, policies and procedures, registers, file and reporting schedules and controls. The assessment is to ensure the documents are inline and meet all relevant regulatory requirements. 3.8 Advice will be sought on any relevant advertising and marketing documentation which could be considered to have a regulatory impact. 3.9 The supplier will provide assistance with preparation and submission of adequate quality fillings with the FCA, in line with requirements and systems. Support will be provided for any changes to Nest Invest's registration status and permissions. 3.10 The supplier will provide support for GABRIEL, FCA Connect, and other reporting events and systems as required. 3.11 In the event that Nest Invest is subject to an FCA examination procedure, support throughout the process with respect to regulatory issues. The supplier will support in advising and compilation of responses to the regulator's enquiries as required. 3.12 To support the development and training of relevant Nest Invest staff in relevant Compliance developments as required.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-699304af-5763-467e-ba1d-df10d6d91c36
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/759de1f5-122e-4d03-b87a-2861b5e67f41
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66170000 - Financial consultancy, financial transaction processing and clearing-house services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
13 Feb 20206 years ago
Submission Deadline
6 Mar 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2020 - 31 Mar 2021 6-12 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)
Contact Name
Not specified
Contact Email
procurement@nestcorporation.org.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
E14 4PU
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLI London
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

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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