Does your organization maintain a code of ethics? How does your organization train employees to live by the code of ethics and ensure the highest level of integrity? What measures of enforcement are instituted for breaches of the code? Please provide a copy of the code of ethics. (Code of ethics is not included in 100 page limit to the proposal) Provide a brief overview of the internal control environment of your organization. Describe management’s philosophy and operating style with regard to the organization’s internal control environment. How is the importance of internal controls communicated and demonstrated to staff and clients? Describe the process your organization uses to evaluate the effectiveness of internal controls and the on-going monitoring of the internal controls. Specifically, how does your organization assure that Master Trust/Custody Services are provided in accordance with proper standards of care, regulatory requirements and the executed service agreements? Briefly list and describe the nature of internal control exceptions reported in your most recent SSAE #16 audit report. What steps have been taken to correct the errors or otherwise improve internal controls? Please provide a copy of the most recent SSAE #16 audit report issued. (SSAE #16 Report is not included in the 100-page limit to the proposal.) Does your organization employ an internal audit department? If so, to whom does this department report? How often are internal audit reviews performed on custody and fund accounting services? Provide copies of audit opinions and internal control recommendations (management letters) issued by your independent and/or internal auditors specifically related to Master Trust/Custody Services within the last three years (Audit opinions and management letters not included in the 100 page limit to the proposal). Custody and Safekeeping of Assets Briefly describe your organization’s domestic and international global custody service capabilities. Include a discussion of any recent or planned enhancements. When did your organization begin providing global custody services? Explain how your organization’s custody and safekeeping units are structured. Are the domestic and global custody operations integrated or separate units? Briefly discuss your organization’s policy and procedures for assuring that clients’ assets are properly held in safekeeping and positions are accurately maintained electronically. Include information on segregation of assets and distinctions between physical and book entry positions. How often does your organization reconcile the accounting positions to the custody positions? At what point are clients notified of exceptions? Describe your domestic and international depository memberships (i.e. DTC) and the services used by your organization. Briefly describe your organization’s system for the registration and custody of assets.
Does your organization maintain a code of ethics? How does your organization train employees to live by the code of ethics and ensure the highest level of integrity? What measures of enforcement are instituted for breaches of the code? Please provide a copy of the code of ethics. (Code of ethics is not included in 100 page limit to the proposal) Provide a brief overview of the internal control environment of your organization. Describe management’s philosophy and operating style with regard to the organization’s internal control environment. How is the importance of internal controls communicated and demonstrated to staff and clients? Describe the process your organization uses to evaluate the effectiveness of internal controls and the on-going monitoring of the internal controls. Specifically, how does your organization assure that Master Trust/Custody Services are provided in accordance with proper standards of care, regulatory requirements and the executed service agreements? Briefly list and describe the nature of internal control exceptions reported in your most recent SSAE #16 audit report. What steps have been taken to correct the errors or otherwise improve internal controls? Please provide a copy of the most recent SSAE #16 audit report issued. (SSAE #16 Report is not included in the 100-page limit to the proposal.) Does your organization employ an internal audit department? If so, to whom does this department report? How often are internal audit reviews performed on custody and fund accounting services? Provide copies of audit opinions and internal control recommendations (management letters) issued by your independent and/or internal auditors specifically related to Master Trust/Custody Services within the last three years (Audit opinions and management letters not included in the 100 page limit to the proposal). Custody and Safekeeping of Assets Briefly describe your organization’s domestic and international global custody service capabilities. Include a discussion of any recent or planned enhancements. When did your organization begin providing global custody services? Explain how your organization’s custody and safekeeping units are structured. Are the domestic and global custody operations integrated or separate units? Briefly discuss your organization’s policy and procedures for assuring that clients’ assets are properly held in safekeeping and positions are accurately maintained electronically. Include information on segregation of assets and distinctions between physical and book entry positions. How often does your organization reconcile the accounting positions to the custody positions? At what point are clients notified of exceptions? Describe your domestic and international depository memberships (i.e. DTC) and the services used by your organization. Briefly describe your organization’s system for the registration and custody of assets.
2013_Custodian_RFP_-_Final_doc.docx