Title of the EOI:
Provision of Worldwide Banking/Payment Services for United Nations Joint Staff Pension Fund (UNJSPF)
Closing Date for Receipt of EOI at PD: 25 September 2009
EOI Number: EOIIB4970
E-mail Address: firstname.lastname@example.org
Address EOI response by fax for the Attention of: Ms.Iaroslava Bilous
Fax Number: +1 212 963 16 37
UNCCS Code: 652200
DESCRIPTION OF REQUIREMENTS
The United Nations Joint Staff Pension Fund (hereinafter referred to as UNJSPF or the Pension Fund) is a fund established by the General Assembly of the United Nations to provide retirement, death, disability and related benefits for the staff of the United Nations and other organizations and agencies admitted to membership in the Pension Fund. The Pension Fund is seeking one or more banks that will provide worldwide banking payments services.
The Investments of the Fund are managed by a separate unit of the UNJSPF, the Investment Management Service (IMS). The IMS area maintains its own bank accounts and has separate custodial functions. The IMS activities are not part of this RFP. You may wish to refer to www.unjspf.org for additional information on the Pension Fund, including its ‘Annual Report 2009’ and, in particular, its ‘Regulations, Rules and Pension Adjustment System’.
As at 31 December 2008, the Pension Fund counted 112,000 active contributors (participants) belonging to the United Nations Common System, other organizations and agencies (which include the main UN Secretariat, UNICEF, UNDP, UNHCR as well as various specialized agencies such as WHO in Geneva, IAEA and UNIDO in Vienna, ICAO in Montreal, UNESCO in Paris etc.).
The value of payroll benefits in payment for the year ending 31 December 2008 amounted to US$1.5 billion, which was paid in 15 different currencies, while withdrawal and other payments are paid in many different currencies and amounted to the equivalent of US$ 337 million.
A total of 591,585 payment transactions were executed in 2008. For beneficiaries in receipt of child or other benefits, the Pension Fund, wherever possible, consolidates such benefits into one payment transaction. Based on current developments, overall payments are estimated to increase by approximately 2 to 3 percent for the year 2009 compared to 2008 figures, although these estimates may vary.
The Pension Fund’s monthly payment transactions are directed to accounts held by beneficiaries with more than 2,450 different banks and other financial institutions.
There are on average approximately 50,000 payroll transactions each month totaling US$127 million. Under the Fund's Regulations, payroll payments are to be executed for the value date that would be indicated.
UNJSPF is inviting banks to submit their proposals for the following eight categories of payments and related accounts. Banks may choose to bid for all, or one or more of the categories and must state which category(ies) are being bid for. Based on replies received to the RFP, the Pension Fund reserves the right to choose, consolidate or de-consolidate, these categories, as the Pension Fund’s operational requirements may warrant.
1. US Dollar (USD) payments to be made from an interest-bearing US DOLLAR ACCOUNT, with two separate sub-accounts for cheque issuance and regular disbursements.
2. Euro (EUR) payments to be funded from an interest-bearing EURO ACCOUNT domiciled in a SEPA (Single Euro Payment Area) compliant European country.
3. Pound Sterling (GBP) payments to be funded froman interest-bearing GBP ACCOUNT domiciled in UK or a SEPA (Single Euro Payment Area) compliant European country.
4. Swiss Franc (CHF) payments to be made from an interest-bearing SWISS FRANC ACCOUNT domiciled in Switzerland or in a SEPA (Single Euro Payment area) compliant European country.
5. Australian Dollars (AUD), Canadian Dollar (CAD), Japanese Yen (JPY) and New Zealand Dollar (NZD) payments to be made from an interest-bearing US DOLLAR (master) ACCOUNT with distinctive interest bearing sub-accounts or through region specific nostro/correspondent arrangements.
6. CFA Franc payments to be made from an account domiciled in a SEPA compliant European country or one of the 14 ‘CFA’ countries or adjacent country, whether XAF or XOF. (Account currency to be determined.)
7. Indian Rupee (INR) and Pakistan Rupee (PKR) to be made from an interest- bearing US DOLLAR (master) ACCOUNT with distinct interest bearing sub-accounts or through region specific nostro/correspondent arrangements.
8. Payments to our beneficiaries, who demanded to be paid in local currency (F/X) worldwide. Thesepayments to be effected from a US Dollar Account, with the exception of the following currencies: CHF, EUR, GBP, AUD, NZD, JPY, CAD, INR and PKR. THERE MAY THEREFORE BE MORE THAN ONE BANKING CONTRACT ISSUED AS A RESULT OF THIS RFP EXERCISE.
The following services may also be requested:
• Domestic and International Cash Concentration system(s) including Web disbursements and
reporting and Automated Cash concentration possibilities.
• Consolidated, secured and streamlined platform for the processing of collection, disbursement and
optimization of management of cash flows with customized and automated solutions.
• Real-time or close to real-time and intra-day account balance and transaction, information reporting
and payment, advice reporting including third-party reporting facility.
• Single and/or multiple linked Zero Balance Accounts (ZBA) that will serve as disbursement and/or
depository accounts(s) with automated funding mechanism.
• Controlled Disbursement Account options to enable the Pension Fund to manage the excess
balances. Cheque clearing information must be made available early in the day (where applicable).
• In the case of Euro payments, it is envisaged that the EURO account should be structured through
one master account to be maintained in a location in a SEPA compliant Euro country (please specify
location options) allowing UNJSPF to maintain domestic Euro disbursement accounts (to avoid trans-bordere
charges) with access to payments in those countries from the EURO master account.
• Interest bearing account and automatic sweep capabilities
• Account Reconciliation services.
• Flexible statement cut-off dates, serial sorting of checks, and flexible input/output files.
• A proactive prepayment cheque verification option.
• Compatible IT systems
The above is a complete copy of the original procurement notice.