Award

Security Operations Centre Services

FINANCIAL OMBUDSMAN SERVICE

This public procurement record has 2 releases in its history.

Award

12 Dec 2024 at 16:31

Tender

17 Nov 2023 at 15:15

Summary of the contracting process

The Financial Ombudsman Service has initiated a procurement process for the provision of Security Operations Centre (SOC) services. This procurement, under the industry category of IT services including consulting, software development, Internet, and support, is classified as services and will be conducted through a restricted procedure. The contract aims to establish a fit-for-purpose SOC capability that operates 24/7 throughout the year, working closely with the Financial Ombudsman Service's cybersecurity team. The tender process commenced on 17th November 2023, with a submission deadline set for 18th December 2023. The chosen supplier is expected to provide services such as security incident response, configuration of security systems, threat hunting, and incident investigation, covering locations within the UK.

This tender represents significant business growth opportunities, especially for companies specialising in cybersecurity services and SOC management. Firms with capabilities in SIEM and SOAR configuration, threat intelligence, digital forensics, and process improvement will find this contract highly suitable. This procurement seeks to support the Financial Ombudsman Service's goal of enhancing its security posture, requiring suppliers that can deliver robust security solutions and adapt to ongoing cybersecurity challenges. Small and medium-sized enterprises (SMEs), as well as firms with experience in working with public bodies, would benefit from competing for this tender due to the potential for long-term collaboration and the visibility of supplying critical services to a high-profile organisation like the Financial Ombudsman Service.

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Notice Title

Security Operations Centre Services

Notice Description

Contract for the provision of a managed Security Operations Centre (SOC) service to provide the following: 1. Provision of a modern and fit-for-purpose SOC capability operating 24 hours a day, 7 days a week, 365 days a year (working in concert with the Financial Ombudsman Service's cyber security team); 2. Undertake standard security operations functions including: a) Performing triage of security incidents, core security incident response, and escalation activities (we refer to these as level 1 and 2 activities); b) Tuning/configuration of the Security Information & Event Management (SIEM) solution and associated Security Orchestration, Automation & Response (SOAR) capabilities; c) Responding to threat intelligence and performing proactive threat hunting; d) Management, investigation, and resolution of critical/major security incidents including digital forensics as required; and e) Conducting process improvement activities to improve the effectiveness of the SOC. 3. Provision of cyber security resources on demand to augment the Financial Ombudsman Service's team on an ad-hoc basis. These resources maybe involved in project or business as usual activities.

Lot Information

Lot 1

Contract for the provision of a managed Security Operations Centre (SOC) service to provide the following: 1. Support of the existing SOC team to enable a modern and fit-for-purpose SOC capability operating 24 hours a day, 7 days a week, 365 days a year. We are looking for a supplier that can provide a SOC capability that functions over a 24-hour period, 7 days a week, 365 days a year. 2. Undertake standard security operations functions including: a) Performing triage of security incidents, core security incident response, and escalation activities (we refer to these as level 1 and 2 activities); b) Tuning/configuration of the Security Information & Event Management (SIEM) solution and associated Security Orchestration, Automation & Response (SOAR) capabilities; and c) Responding to threat intelligence and performing proactive threat hunting. The SOC service will tune and configure our SIEM tool on an ongoing basis. We expect the supplier to maintain an up to date knowledge of industry best practices and threat intelligence sources to inform the tuning and configuration process. In addition to this, we require the SOC capability to monitor and respond to alerts from the SIEM solution and manage any related incidents, liaising with the Financial Ombudsman Service team where required. 3. Management, investigation, and resolution of critical/major security incidents, including digital forensics as required. If we suffer a major security incident, we may ask the supplier to assist with the management, investigation, and resolution of it. This may involve attending the Financial Ombudsman Service's offices. 4. Conducting agreed ongoing process improvement activities that will strengthen and improve the SOC's ability to effectively detect and respond to the changing landscape of threats faced by the Financial Ombudsman Service and the financial services industry. 5. Provision of cyber security resources on demand to augment the Financial Ombudsman Service's team on an ad-hoc basis. These resources maybe involved in project or business as usual activities. Provision of information security resources to augment our existing information security team, as called-off by us on an ad-hoc basis. These resources may be involved in project or business as usual activities in the Cyber Security area.

Options: Three year contract with three additional option years.

Renewal: A 3 year contract with the option to extend for a further 3 years in annual increments.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-041aea
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/040157-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

72 - IT services: consulting, software development, Internet and support


CPV Codes

72000000 - IT services: consulting, software development, Internet and support

72400000 - Internet services

72500000 - Computer-related services

72600000 - Computer support and consultancy services

Notice Value(s)

Tender Value
£900,000 £500K-£1M
Lots Value
£900,000 £500K-£1M
Awards Value
Not specified
Contracts Value
£1,146,500 £1M-£10M

Notice Dates

Publication Date
12 Dec 20241 years ago
Submission Deadline
18 Dec 2023Expired
Future Notice Date
Not specified
Award Date
6 Dec 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
FINANCIAL OMBUDSMAN SERVICE
Additional Buyers

THE FINANCIAL OMBUDSMAN SERVICE LIMITED

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E14 9SR
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

Supplier Information

Number of Suppliers
1
Supplier Name

LITTLEFISH (UK

Open Contracting Data Standard (OCDS)

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