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Risk Management Transformation Support

Financial Services Compensation Scheme

This public procurement record has 1 release in its history.

Award

21 Sep 2026 at 18:11

UK6 - Contract Award Notice
Summary of the contracting process

Financial Services Compensation Scheme Limited commissioned specialist risk management transformation support for its programme. The service covers assessing process and control effectiveness across selected domains; designing and embedding preventative and automated controls; reducing reliance on manual and detective controls; and strengthening first-line risk ownership and accountability. The provider is also expected to develop first-line risk and control registers, recommend practical tooling and automation, support a sustainable data-driven risk management capability, and create a comprehensive compliance traceability matrix. Delivery is through iterative call-offs, each contributing to a defined future-state operating model. This is a business and management consultancy service, delivered in the United Kingdom, for a financial services compensation scheme organisation.

The procurement is complete and was awarded following a competitive selective procedure under a framework. One lot was awarded to Baringa Partners LLP on 21 September 2026 for £1,800,000 gross. The contract is scheduled to run from 25 September 2026 to 24 September 2029, with the buyer retaining the right to extend it once for up to 12 months, to a maximum end date of 24 September 2030. The award is above the relevant threshold. The requirement was evaluated through the framework’s competitive award process. The contract was due for signature by 25 September 2026. The selected supplier is an SME, and the procurement used iterative call-offs to support delivery of the transformation programme.

This award demonstrates substantial demand from FSCS for specialist consultancy combining risk management, internal controls, compliance and transformation delivery. Credible suppliers for a future requirement would need to assess control effectiveness across business domains, design and implement preventative and automated controls, and reduce dependence on manual or detective activity. They would also need practical experience establishing first-line ownership, maintaining risk and controls registers, recommending tooling and automation, and building data-driven operating capabilities. The ability to produce a comprehensive compliance traceability matrix is central to the requirement. Competitors would benefit from experience delivering complex financial-services change through structured, iterative call-offs and from the capacity to provide specialist resources across the United Kingdom.

How relevant is this notice?

Notice Information

Notice Title

Risk Management Transformation Support

Notice Description

FSCS is seeking a Service Provider capable of supplying specialist resource to support continued delivery of the Risk Management Transformation programme. The objectives of this engagement are to: * Assess process and control effectiveness across selected domains * Design and embed preventative and automated controls * Reduce reliance on manual and detective control activities * Support development of 1LOD risk ownership and accountability * Develop 1LOD risk and controls registers * Provide actionable tooling and automation recommendations * Enable a sustainable, data-driven risk management capability * Create a comprehensive Compliance Traceability Matrix The engagement will be delivered through iterative call-offs, each contributing to a defined future-state operating model.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0776f2
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/089376-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Award under framework
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£1,800,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
21 Sep 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
21 Sep 20262 weeks ago
Contract Period
25 Sep 2026 - 24 Sep 2029 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Financial Services Compensation Scheme
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
EC3A 7AW
Postcode Area
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
City of London
Electoral Ward
Aldgate
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

Baringa Partners LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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