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

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

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Agenda Introduction of Presenters Definition of a Request for Proposal ... selection criteria and timeline Be interactive Schedule a Pre-bidder s Conference, ... – PowerPoint PPT presentation

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


1
RFP PROCESS FOR BANKING Presented by Martin
McConahay, District 39 Jackie Schimizzi,
Consultant Kimberly Feeney, Bank of America
2
Agenda
  • Introduction of Presenters
  • Definition of a Request for
  • Proposal (RFP)
  • Critical Issues
  • RFP Process Steps
  • District 39 Experience
  • Questions Answers

3
Presenters
  • Martin McConahay, Business Manager
  • Wilmette Public School District 39
  • Jackie Schimizzi, Consultant
  • Marketing and Treasury Services
  • Kimberly Feeney, Vice President
  • Bank of America

4
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

5
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?

6
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?

7
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

8
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?

9
Who are the Stakeholders in the Process?
  • School District
  • Finance Staff
  • Building Personnel
  • Board of Education
  • Community
  • M

10
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?

11
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

12
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?

13
What is our Universe of Providers?
  • Geographic Factors
  • Board Policy
  • Political Considerations
  • Provider Capabilities
  • M

14
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?

15
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

16
RFP Process Steps
  • Write and Issue the RFP
  • Evaluate the responses
  • Award the contract
  • Implement the services

17
RFP Process Steps
  • Write and Issue the RFP
  • Evaluate the responses
  • Award the contract
  • Implement the services

18
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

19
RFP Process Steps
  • Write the RFP and issue
  • Evaluate the responses
  • Award the contract
  • Implement the services

20
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-
21
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

22
RFP Process Steps
  • Write the RFP and issue
  • Evaluate the responses
  • Award the contract
  • Implement the services

23
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

24
RFP Process Steps
  • Write the RFP and issue
  • Evaluate the responses
  • Award the contract
  • Implement the services

25
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

26
Wilmette Public School District 39 RFP
Experience
  • Experience - Marty

27
Questions
  • Thank you!
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