Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

the Financial Transaction Control Framework

British Business Bank

This public procurement record has 1 release in its history.

Award

17 Sep 2026 at 10:39

Award Notice
Summary of the contracting process

British Business Bank plc commissioned independent financial consultancy services to review the methodology used to calculate credit risk capital requirements. The work concerns the Financial Transaction Control Framework and is intended to provide an independent assessment of the approach used for credit-risk capital calculations. Delivery covers the United Kingdom, with the buying organisation based in Sheffield, England. The service falls within financial consultancy services (CPV 66171000) and is categorised as a services requirement. This is relevant to firms with specialist knowledge of credit-risk capital, financial risk methodologies, prudential analysis and independent assurance of quantitative models or frameworks used by public-sector or government-backed financial institutions.

The procurement has been completed and awarded. British Business Bank plc used a direct single-tender action below the applicable threshold, rather than a multi-supplier competition. The contract was awarded to the Government Actuary’s Department on 10 September 2026 for £30,000 including the stated currency, GBP. The contract period runs from 11 September 2026 to 31 October 2026. The tender submission period ended on 10 September 2026. The recorded requirement was suitable for small and medium-sized enterprises and was not reserved for voluntary, community or social enterprises. The published outcome identifies one supplier and one award for the independent methodology review.

This award shows demand from British Business Bank plc for independent, technically authoritative review of credit-risk capital methodology within a financial control framework. Suppliers well placed for comparable work would need demonstrable capability in financial risk, capital requirements, actuarial or quantitative analysis, and the independent challenge of methodologies used to support regulatory or governance decisions. Credibility would also depend on producing a rigorous review that can be understood by senior stakeholders and withstand scrutiny, with clear evidence of relevant experience in banking, government finance, prudential regulation or similar controlled environments. Smaller specialist consultancies may be well suited, provided they can offer sufficient technical depth, independence and capacity for a focused review.

How relevant is this notice?

Notice Information

Notice Title

the Financial Transaction Control Framework

Notice Description

Independent review of the methodology adopted for calculating credit risk capital requirements

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-9a29d71d-8c77-4c24-8006-9beab90b4c9c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/21b82d5b-e671-4b0e-9fac-c5f1db469757
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£30,000 Under £100K
Lots Value
Not specified
Awards Value
£30,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
17 Sep 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
10 Sep 20263 weeks ago
Contract Period
11 Sep 2026 - 31 Oct 2026 1-6 months
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
British Business Bank
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SHEFFIELD
Postcode
S1 2GQ
Postcode Area
Sheffield
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE3 South Yorkshire
Small Region (ITL 3)
TLE32 Sheffield
Delivery Location
Not specified
Local Authority
Sheffield
Electoral Ward
City
Westminster Constituency
Sheffield Central

Supplier Information

Number of Suppliers
1
Supplier Name

Government Actuary's Dept

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...