RFP Questions:
· For staffing and resourcing purposes, when is the expected starting date of the project?
The expected start date is mid to late July, 2013.
· For estimation purposes, please provide details on the number of SSIS interfaces that need to be modified? Please quantify the complexity of the SSIS packages using the following criteria for each package (or set of packages)
o Note on SSIS architecture: Currently, a set of packages pulls data from our data warehouse into a set of tables that we call subscriber staging. Then, for various downstream purposes we have other packages we refer to as publishers that pull from staging and send to various destinations. This was developed in concert with the last accounting and data warehouse system upgrade.
o Number of hours/days spent on initial design and development
§ Subscriber: 1000
§ Publisher: 1000
o Number of data sources and corresponding type (Flat File, Web Service/API, OleDB, etc.)
· One data source - Data warehouse
o ODBC query in SSIS
o Number of Data Flow Tasks
§ Numerous (100-200)
o Number of packages in the set (if relevant)
§ 20
· What version of MS SSIS is being utilized?
o Majority in 2008, several in 2005.
· Will any new SSIS packages need to be created for new or updated data sources?
o Most certainly. Will be determined after any additional discovery.
· Please describe the test framework used to test SSIS packages
o We have a QA and Dev environment that can be kicked off manually to test end to end. They are not currently running on a scheduled basis.
o Programmer unit tests with data stubbed on their machine
o Programmer works with DBA team to migrate DTSX package and DTSCONFIG file to QA environment
o System and regression testing performed in QA and user signoff occurs with QA results.
· Are there any SSAS cubes included in the solution? If so, please enumerate any anticipated modifications required.
o We do not use Analysis Services at this time.
· Are there performance issues or concerns related to the SSIS solutions that will need to be addressed?
o No performance issues encountered or anticipated with the SSIS architecture. We do have some concerns on logging, notification, and standards.
· Do you have an existing ETL framework (including logging and instrumentation for performance monitoring and analysis)? Is it a custom framework or a 3rd party framework?
· Can you give details on other development tools (version control, data base access, etc.)? Does OPERS have any documented coding standards? Is there a formal code review? What is the lifecycle?
o Version Control = Tortoise SVN
o We typically provide Read access to development and production database. Write access is typically granted to developers on development environments. QA user rights closely match production so no direct write access is typically granted there.
o No documented standards on SSIS at this time.
o We will most likely want to perform a code review on any contractor created code before it moves to production.
o Lifecycle typically follows the SDLC: Planning, Analysis, Design/Develop, Test, Implement, Maintain.
· With interface changes, will Eagle panels need to be altered to accommodate the new data elements?
It is assumed that there will be Eagle Panel changes needed to support new instrument types.
· How many reports from the following systems will need to be modified and tested with the Risk Parity Strategy Implementation?
o Eagle – Approximately 10
o CRD – Approximately 20
· Will any existing business intelligence reporting features need to be modified? If so please provide details including the interface type (SSRS report, Excel-based reporting, etc.)
None noted at this time.
· How many risk parity strategies is OPERS planning to implement with this project?
3 Accounts with similar risk parity strategies. All strategies use securities of the type listed in the RFP.
· Please revalidate the product versions of your platforms (CRD, Eagle, 3rd Party platforms) and database version (SQL Server, etc.). Are any upgrades planned in the near future?
o CRD: 8.2.2.4 Database: SQL 2005 with CRD databases in SQL 2000 compatibility mode.
o Eagle: 10.1.5.10 Database: SQL 2008
o Bloomberg AIM: ASP model – version number unknown.
· Is OPERS utilizing any data marts, e.g., Eagle data marts?
None noted at this time.
The following questions are related to the Ohio Public Employees Retirement System Request for Proposal, For the Risk Parity Investment Program, dated May 30th 2013.
- Is there a Business Sponsor for this Risk Parity Project and if so, who?
- The business sponsor this project is the Chief Investment Officer of OPERS.
- Page #4 states that OPERS expects the required changes to be complete no later than 6 months after project start-up. Does the 6 month period include testing (Unit, System and UAT), production cutover and post implementation support?
Test and production cutover is assumed to be part of the schedule. Minimal post implementation support is included in the schedule.
- How was the 6 month period determined? Will there be a reassessment of the timeline after the project planning deliverable has been completed? The 6 month timeline was delivered via an earlier assessment of OPERS capabilities and requirements of the Risk Parity strategy. A reassessment and discussion of the timeline is welcomed.
- How soon is the project expected to begin after the RFP is awarded to the Vendor?
OPERS would like to being the project as soon as possible after the RFP is awarded. Current planning estimates a mid to late July start date.
- Are there other internal or external mandates that may serve as a conflict (resource availability, systems) to this program effort?
An external mandate for custodian conversion is underway and may provide resource contention. OPERS will make necessary changes to scope/timeline as needed to ensure all project resource are reasonably available.
- Is OPERS currently trading any of the 8 main types or groups of securities listed on page #3?
Non-US Equity Futures are currently in the final phases of testing at OPERS and are expected to go live before the start of this project.
- If it is discovered that a Vendor system(s) does not fully support one or more of the 8 main types or groups of securities, is there an expectation that this gap will be addressed within the 6 month period.
Yes, the expectation is that discovery will either yield appropriate manual workflow changes, or that the vendor will offer a solution in the current or near term future release.
- Can OPERS provide a list of the 70 instrument types referenced on page #8?
No, OPERS cannot provide the list of instrument types.
- Page #8 states there will be a Business Analyst resources allocated for 36 hours per week and Non-Dedicate project personal allocated for 2 hours per week. Is the Business Analyst one or multiple resources?
OPERS intends on providing one resource with appropriate backup to ensure continuity of work.
- Excluding the Non-Dedicated project personal, is there only 36 hours, per week, from OPERS resource(s), allocated to this project?
Yes, the intent is the vendor will provide the majority of staffing resources for this project.
- Are there any Technical resources dedicated to this project?
The intent is the vendor will provide the technical resources for this project.
- We find that any type of extended requirements gathering and documentation deliverables can result in additional project timeline and resource allocation. To what extent has the requirements been completed as it relates to pages #17 - #19, items 7 – 7.7?
- Does OPERS require specific templates for the requirements documentation?
Yes, the templates will be provided to the vendor.
- On October 1, 2012 a Request for Proposal, For a Needs Assessment to Support Risk Parity Investment Program was issued. Can OPERS provide any additional information (beyond Exhibit B) concerning the results of the assessment?
The results of that assessment were used to compile the requirements list in the current RFP dated 5/30/2013. The vendor being awarded the contract will have access to those results.
- Application Vendor support may be necessary in certain instances (i.e. test environments). Is OPERS or the Vendor responsible in initiating and managing this support?
OPERS will initiate and coordinate Application Vendor support as requested by Vendor.
- Have external parties (i.e. Custodian, BBH, software vendors, etc.) been informed of the Risk Parity Project and have agreed to have support and resources available during the proposed 6 month implementation window?
Parties have been notified to the extent recommended by the initial assessment. If external forces could cause delays, these circumstances will be dealt with on a case by case basis and flexibility is expected on the part of OPERS and the vendor.
Next set of questions
- Does OPERS have existing technology & operations documentation, diagrams, or other current state assets such as process flows or policies & procedures that the chosen consulting provider can leverage during the course of the engagement other than those provided in Appendix C? Is this set of inputs considered complete?
Yes, there are existing documentation artifacts that will be given to the chosen provider to leverage for the project. The documentation is considered complete. There may be some gaps in the documentation of the operations area. Please consider this in your response.
- Does OPERS have an expectation for the total number of interviews and/or workshops required for this effort? (B3 – Project Assumptions)
There is no expectation for the total number of interviews or workshops required. We do expect there to be about the same number as projects of similar size and scope. Many meetings in the beginning while in discovery followed by a period of meetings at specific intervals (weekly), concluding with additional activity as the project goes live.
- Does OPERS have an expectation for the level of detail required for the processes and workflows requested in RFP section B.2.g?
The level of detail should be such that processes and workflows are easily understood by all parties involved and be set so that junior members of a technology, operations, and investments team can execute against them.
- Does BBH or any other service provider(s) support any investment management process-related support for OPERS? Is the BBH relationship solely limited to employment of the Infomediary platform?
BBH Infomediary is the primary tool employed at OPERS provided by BBH.
- Will the expected OPERS business analyst support be performed by one, dedicated BA or be sourced from a pool of qualified resources? (B3 – Project Assumptions)
The intent is to provide one BA for continuity with backup for continuity purposes.
- Please clarify OPERS’s expectation on the depth and duration of the ‘Set up and Monitoring’ activity requested on Page 4, Section B – Services Requested. Will the chosen partner be expected to provide monitoring activity for anything beyond activities related to analysis and process re-engineering?
- Are there other business, operational, or investment systems initiatives planned or in progress that will impact this engagement?
Yes, there are other projects in progress at the moment. Resources are being made available to each project as needed so as to not unduly burden OPERS or vendor staff, or distract from other initiatives. If other projects begin to interfere, OPERS is relying on the vendor to communicate and come up with mitigation steps in cooperation with OPERS.
- What’s is OPERS’ expectation on the use of software vendor-supplied resources to support this effort? Has the use of Eagle, CRD, or Bloomberg support or professional services been retained to support this program?
No other direct vendor support resources have been retained at this time. If the discovery process uncovers a need for resources and this need is communicated to OPERS, OPERS will work with each vendor on a case by case basis to procure those resources as necessary.
- Is OPERS amenable to being billed for travel expenses on a time & materials basis?
OPERS prefers to be billed in an all inclusive rate, but expenses can be broken out and billed separately and will be paid as long they are in accordance with OPERS’ expense policy.
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Please review the following questions related to the Risk parity RFP and let us know the responses.
1. Currently, where does OPERS setup, trade and manage Risk Parity security types?
Non-US Equity Futures are setup in Eagle and traded in CRD. The remaining security types represented by this project are not set up, traded, or managed yet.
2. Are these Risk Parity security type have new security setup workflow in CRD?
Yes, it assumed there will be a new workflow needed for new security setup.
3. What are the plans for upgrading CRD? (Assumption: after go-live of this project)
There are no plans to upgrade CRD as it relates to this project.
4. Do these Risk Parity Security types have setup in Eagle STAR and Eagle PACE?
No, the project implementation will determine where to best set up the security types.
5. What is PTS? Is it proprietary system to support EOORS or something different?
Personal Trading System is an internal system to monitor covered staff trading activity.
6. Where is Collateral Management process currently performed? (assumption: Eagle STAR)
Collateral Management is performed by the Investment Accounting area.
7. What is the current collateral and cash management processes?
Current processes are expected to be redesigned as part of the project.
8. Where is Risk Reporting process performed? (Assumption: Eagle PACE)
Currently, risk reporting is performed in the Barra One system.
9. What do OPERS currently use for reconciliation? What kind of reconciliations currently in place?
A combination of manual, excel and system reconciliations take place. Positions, Cash, Transaction activity are some of the reconciliations that take place.
10. What types of feeds are coming from 3rd party systems like Barra & Barclays? Where do they get imported into? (Assumption: Eagle STAR and PACE)
The feeds will be disclosed to the consultant awarded the contract.
10. How many existing reports does OPERS have and how many will be impacted by implementation of this project?