Award

GB-Sheffield: Deputy MLRO

BRITISH BUSINESS BANK

This public procurement record has 1 release in its history.

Award

03 Jun 2020 at 18:10

Award Notice
Summary of the contracting process

The British Business Bank based in Sheffield has recently completed a procurement process for the tender titled "GB-Sheffield: Deputy MLRO," which involves financial consultancy services, particularly in relation to anti-money laundering (AML) support. The contract, awarded to FSCOM LIMITED, amounts to £105,000 and commenced on 26th May 2020, lasting until 26th November 2020. The evaluation of tenders concluded on 5th May 2020, marking a significant step in enhancing the Customer's Risk and Compliance team capabilities amid the ongoing demands of Covid-19 funding schemes.

This tender creates substantial opportunities for businesses specialising in financial consultancy and compliance services, particularly those with expertise in AML matters. Companies that provide bespoke financial crime resources are well-positioned to compete, especially given the pressing requirements for enhanced risk management as organisations like the British Business Bank expand. Furthermore, suppliers interested in supporting both public and private sector clients with complex compliance issues may find this a valuable contract to engage with, reflecting a growing demand within the industry.

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Notice Information

Notice Title

GB-Sheffield: Deputy MLRO

Notice Description

Financial crime resources and SME to support its delivery of the Covid-19 funding schemes on behalf of HMG. This service is necessary to ensure the Customer's Risk and Compliance team has the additional capacity to deal with AML matters referred to it through the accreditation of new lenders and to expedite the resolution of complex and/or higher risk AML checks. In addition, it will directly benefit the 1LoD teams who are undertaking the AML checks through access to SME's on financial crime. The service is also required to enable the Customer to further strengthen its AML arrangements in response to Customer's continued expansion and the new requirement for the Customer's subsidiary companies BBI and BPC to register with the FCA under the Money Laundering Regulations.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a79fb903-a653-42ec-8a5a-f2a233bc5b49
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/bf54f622-c4a8-4ff5-af1d-10a0f3c2c827
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
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
£105,000 £100K-£500K
Lots Value
Not specified
Awards Value
£105,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
3 Jun 20205 years ago
Submission Deadline
5 May 2020Expired
Future Notice Date
Not specified
Award Date
4 May 20205 years ago
Contract Period
25 May 2020 - 26 Nov 2020 6-12 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
Post Town
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

FSCOM

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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