RFP PROCESS FOR BANKING Presented by: Martin McConahay, District 39 Jackie Schimizzi, Consultant Kimberly Feeney, Bank of America

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RFP PROCESS FOR BANKINGPresented byMartin
McConahay, District 39Jackie Schimizzi,
ConsultantKimberly Feeney, Bank of America
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Agenda

• Introduction of Presenters
• Definition of a Request for
• Proposal (RFP)
• Critical Issues
• RFP Process Steps
• District 39 Experience
• Questions Answers

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Presenters

• Martin McConahay, Business Manager
• Wilmette Public School District 39
• Jackie Schimizzi, Consultant
• Marketing and Treasury Services
• Kimberly Feeney, Vice President
• Bank of America

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What is a Request for Proposal (RFP)?

• Request for Proposal - formal request
• Needs determined
• Request for Qualifications informal request
• Looking at providers
• Request for Information informal request
• What are our needs?
• Gathering of ideas
• K

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Critical RFP Issues to address

• What do we do today and what are our needs, today
  and in the future?
• Who are the stakeholders in the process?
• What is our timeline?
• What is our universe of providers?
• What is our response criteria?

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Critical RFP Issues to address

• What do we do today and what are our needs, today
  and in the future?
• Who are the stakeholders in the process?
• What is our timeline?
• What is our universe of providers?
• What is our response criteria?

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What do we do today and what are our needs today
and in the future?

• What do we do today - Information Gathering
• Account Analysis current services
• Current System and Procedures
• Reporting and Audit Requirements
• What are our needs today and in the future?
• Problem Areas
• Reporting and Audit Requirements
• Goal
• determine targeted needs
• eliminate weaknesses
• Create a list of requirements in banking services

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Critical RFP Issues to address

• What do we do today and what are our needs, today
  and in the future?
• Who are the stakeholders in the process?
• What is our timeline?
• What is our universe of providers?
• What is our response criteria?

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Who are the Stakeholders in the Process?

• School District
• Finance Staff
• Building Personnel
• Board of Education
• Community
• M

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Critical RFP Issues to address

• What do we do today and what are our needs, today
  and in the future?
• Who are the stakeholders in the process?
• What is our timeline?
• What is our universe of providers?
• What is our response criteria?

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What is our Timeline?

• Establish a Realistic Timeline to include
• Information Gathering and Analysis Phase
• Preparation and Issuing of RFP
• Bank Response Time
• Evaluate Responses/ Bank Selection Process
• School Board Meeting Schedule
• Implementation of Services
• J

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Critical RFP Issues to address

• What do we do today and what are our needs, today
  and in the future?
• Who are the stakeholders in the process?
• What is our timeline?
• What is our universe of providers?
• What is our response criteria?

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What is our Universe of Providers?

• Geographic Factors
• Board Policy
• Political Considerations
• Provider Capabilities
• M

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Critical RFP Issues to address

• What do we do today and what are our needs, today
  and in the future?
• Who are the stakeholders in the process?
• What is our timeline?
• What is our universe of providers?
• What is our response criteria?

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What is our Response Criteria?

• Establish Clear and Measurable Criteria
• Relevant to Your District
• Bank Criteria
• Local vs. Out-of-District
• Quality Service
• Innovative Services
• Competitive Pricing
• Reference Criteria

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RFP Process Steps

• Write and Issue the RFP
• Evaluate the responses
• Award the contract
• Implement the services

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RFP Process Steps

• Write and Issue the RFP
• Evaluate the responses
• Award the contract
• Implement the services

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Writing and Issuing the RFP

• Be informative
• Provide detailed information
• State Objectives, selection criteria and timeline
• Be interactive
• Schedule a Pre-bidders Conference,
• Allow for Questions Submission
• Be Specific
• AFP questionnaire, References and Pricing
• Adhere to governmental bidding requirements
• J

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RFP Process Steps

• Write the RFP and issue
• Evaluate the responses
• Award the contract
• Implement the services

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Evaluating the Proposals

• Design Comparative Evaluation Matrix

Bank A Bank B Bank C Bank D
Branch Location gt1 mile 1-2 miles 5 miles lt 1 miles
Public Funds Specialist yes no no yes
Total Fees Balances 1,040 975,000 1,290 1,129,500 950 Not provided 1,150 1,325,00
Price Guarantee 2 years 3 years 3 years 2 years
Phoenix Hecht Ratings B A-/B C B-
Understands Needs A- B B A
Quality of RFP A- B A B-
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Evaluating the Proposals (Cont.)

• Evaluate and Summarize each Banks Response
• Analyze Pricing
• Rank Fee and Balance Compensation
• Acknowledge One-time Set-up Fees/ Exception
  Items
• Select Finalists
• Check references
• Schedule Presentations
• District to provide Agenda

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RFP Process Steps

• Write the RFP and issue
• Evaluate the responses
• Award the contract
• Implement the services

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Awarding the Contract

• Unbiased Decision
• Data and process driven decision
• Data Collection
• Deadlines
• Evaluation Criteria
• Present findings to your Board with
  recommendations
• Formal Board approval
• M

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RFP Process Steps

• Write the RFP and issue
• Evaluate the responses
• Award the contract
• Implement the services

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Implementing the Services

• Important step to ensure success
• Mutually agreeable plan timeline
• Review and acceptance of services
• Dedicated Team
• District
• Support from management
• Bank
• Go-live
• K

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Wilmette Public School District 39 RFP
Experience

• Experience - Marty

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Questions

• Thank you!