fdic contract awards 2021

An effective third-party risk management process has four elements: o Due diligence in selecting a third-party service provider. The FDIC is proud to be a pre-eminent source of U.S. Specific relevant items within the risk inventory currently include risks related to cybersecurity, privacy, protection of sensitive information, potential cyberattacks, management and oversight of contracts, adequacy of staffing, and succession planningwhich involves having a sufficient number of the right people with the right skills to meet mission responsibilities. Footnote: 3 An agency may be deemed over-reliant on a service provider if it does not have the capacity (number of Federal employees) and capability (Federal employees with appropriate training, experience, and expertise) to understand the agencys requirements, formulate alternatives, manage the work product, monitor the contractors used to support the Federal workforce, and adequately mitigate the potential impact on mission performance if contractors were to default on their obligations. Contracting Officer closes out contract. According to the FDICs Legal Division, OMB Policy Letter 11-01 does not directly apply to the Agency but it may be used for guidance. Signature Bank, New York, NY, and Silicon Valley Bank, Santa Clara, CA, FDIC National Survey of Unbanked and Underbanked Households, Quarterly Banking As a result, we consider the remaining 12 recommendations to be unresolved at this time. Some of the risks are associated with the underlying activity itself, similar to the risk faced by an institution directly conducting the activity. Ultimately, if an agency fails to ensure proper management and oversight of procured Critical Functions, contractors may take actions that are not based on informed, independent judgments made by Government officials. Although the contracts required Blue Canopy to submit certain management reports, the contracts did not require Blue Canopy to submit financial reports, audit reports, security reports, business resumption testing reports, and exception-based reports of Blue Canopys operations. No. 9S=^VJGf+_8B+WV|ir,Ma,VE9*n9iwJzc0}8c0ry` xH collection of financial education materials, data tools, The National Geospatial-Intelligence Agency can also award work under the indefinite-delivery, indefinite . According to the Board memorandum, Request for Authority to Contract for Services in Support of the Information Security and Privacy Program and to Increase the Current Contract Ceiling (June 2014), and the FDIC memorandum, Justification for Non-Competitive Procurement (March 2019), these increased procurement costs were mainly due to the expansion of Federal information security standards and corresponding services. Best Practices: 6. We found that the FDIC did not have policies and procedures for identifying Critical Functions in its contracts, as recommended by the best practices in OMB Policy Letter 11-01 and embodied in industry standards. Monday, August 9, 2021 For Release WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) today requested that four companies submit proposals as part of the next phase of an ongoing Rapid Phased Prototyping Competition (RPP) in order to accelerate the adoption of modern technological tools. Combined with the SLAs, performance metrics, incentives, and penalties, the FDIC has also assigned an experienced oversight manager and a team of technical monitors that have the capacity and capability to oversee these vendors properly and mitigate any risk to FDIC operations associated with inadequate vendor performance. The https:// ensures that you are connecting to An official website of the United States government. Contract Reporting. As part of the procurement risk assessment, include a cost effectiveness analysis. Such heightened contract monitoring activities would include: (1) performing a procurement risk assessment, (2) establishing a management oversight strategy, (3) conducting periodic reviews, and (4) providing formal reports to the Board for its review of Critical Functions on an individual and aggregate basis. data. Legend: check mark The source identified this item. By signing up, you agree to the receive emails from WashingtonExec. Periodic Reviews of Controls and Processes. The FDIC incorporates those processes or practices that support its unique circumstances, recognizing that what has worked well elsewhere or what other organizations have implemented may not work well for the FDIC or might be counterproductive to performance and efficiency the goal of best business practices. The Contract Management Plan addressed general oversight roles and responsibilities, and the evaluation/acceptance of the contractors performance. The report summarizes general contracting-related information and details pending awards and award profiles. As part of the FDICs Enterprise Risk Management program, after the Divisions and Offices identify their risks, they assess the likelihood of those risks occurring on both an inherent22 and a residual23 basis. CIO Howard Whyte spoke with FedScoop recently about FDICs work in the cloud to provide a transformational experience for our external customers.. FDIC Contract Awards and Amounts by Year (2013-2017) 2. To assist in performing oversight activities for complex contracts for services, the oversight manager must work with the contracting officer to develop a contract management plan. According to this guidance, a [r]isk assessment is fundamental to the initial decision of whether or not to enter into a third-party relationship. Nor did the FDIC actively monitor Blue Canopys financial condition, information security, and business resumption and continuity. NASA, USDA, and CFPB performed, or considered it a best practice to perform, strategic human capital planning. The FDIC stated that it partially concurred with the remaining 12 recommendations; however, the FDIC response did not provide specific actions taken or planned. The guidance provides, in part, that reports (types and frequency of management information) and business resumption and contingency plans should be considered as a contract is structured, with the applicability of each dependent upon the nature and significance of the third-party relationship. Phase 1: Procurement Planning - Program Office and DOA Acquisition Services Branch report to the FDIC Board the planned acquisition of a Critical Function, and provide a procurement risk assessment and management oversight strategy (including planned contract structure and cost effectiveness analysis). Title III of the E-Government Act, entitled the Federal Information Security Management Act of 2002 requires each federal agency to develop, document, and implement an agency-wide program to provide information security for the information and systems that support the operations and assets of the agency. Reviewed the FDICs policy and procedures, including: o FDIC Acquisition Policy Manual (August 2008); o Acquisition Procedures, Guidance and Information (January 2020) document; and. Identify Critical Functions during the procurement planning, award, and contract management phases of the acquisition process. endstream endobj 196 0 obj <>stream Program Office. The FDIC will consider additional reporting requirements related to contracts for essential functions or for services necessary during a business continuity event, including where such functions are performed by a single vendor, in conjunction with the study and actions described in response to Recommendation 1. The Department of Treasury Forecast of Contract Opportunities includes projections of all anticipated contract actions above $150k that small businesses may be able to perform under direct contracts with Treasury, or perform part of the effort through subcontract arrangements with the Department's large business prime contracts. We performed our work in accordance with the Council of the Inspectors General on Integrity and Efficiencys Quality Standards for Inspection and Evaluation. - August 10, 2020 - DMI, a leading mobility services and digital transformation company, has won a single-award Blanket Purchase Agreement (BPA) from the Health Resources and Services Administration (HRSA), an agency of the U.S. Department of Health and Human Services, to modernize its Electronic Handbook (EHB) program. 5) Develop and implement a management oversight strategy for Critical Functions during the procurement planning process, for each contract involving Critical Functions. A CIOO official also stated that the contractor was responsible for ensuring uninterrupted support of services, if the FDIC determined that Blue Canopy provided services essential or critical to the FDIC mission. Appendix 2 contains a description of the best practices related to procured Critical Functions. hZ[o\ +z}v[u8E?1bKplRC"")#u@jq&R6 The awards, now in their third year are organised by international engineering federation FIDIC (the International Federation of Consulting Engineers). As previously noted, the FDIC and Blue Canopys contractual arrangement allowed Blue Canopy to assess certain security controls, including configuration management controls. The Federal Deposit Insurance Corporation (FDIC) is an The FIDIC bills the 2021 Green Book as a shorter and simpler alternative to its Red and Yellow Books, for projects where parties want to avoid committing significant resources to contract. The criticality of the function depends on the mission and operations, which will differ between agencies and within agencies over time. Footnote: 19 Our interviews at other Federal agencies included the National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), Office of the Comptroller of the Currency (OCC), Federal Reserve Board of Governors (FRB), the OMB, General Services Administration (GSA), National Aeronautics and Space Administration (NASA), Department of Agriculture (USDA), and Department of Energy (DOE). hZ]o\+|l3O 'iQ8q E=(F*k}gxr(}H ok @3rI| HJ`3d$nBk While the solicitation targets three vendors to join the basic ordering agreement, under which the FDIC would issue individual task orders for work needed, the agency says one of the vendors will get the bulk of the work through an initial order for Managed Services to support the FDIC IT infrastructure environment. That task order alone will be worth $250 million over five years, with extensions possible for two and a half years, which could bump the ceiling up to $375 million. In addition, the GSA and OCC report on procurement actions through the Federal Procurement Data System-Next Generation (FPDS-NG),* which includes those designated as Critical Functions. Management Response: Partially Concur. endstream endobj 527 0 obj <>stream Oversight Manager and Contracting Officer develop Contract Management Plan. As a result, the FDIC also did not implement heightened contract monitoring activities for Critical Functions as stated in OMBs Policy Letter 11-01, and best practices identified and used by other government agencies. According to the FDICs Financial Institution Letter titled Third-Party Risk Guidance for Managing Third-Party Risk (FIL-44-2008) (June 2008), the key to the effective use of a third party in any capacity is for management to appropriately assess, measure, monitor, and control the risks associated with the relationship.

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