REQUEST FOR PROPOSAL

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1 COLORADO HOUSING AND FINANCE AUTHORITY REQUEST FOR PROPOSAL (RFP) COLORADO HOUSING AND FINANCE AUTHORITY 1981 BLAKE STREET DENVER, CO REQUEST FOR PROPOSAL Technology Assessment POSTED: 11/17/2017 PROPOSALS DUE: 12/15/2017 The (CHFA) is a body corporate and political subdivision of the State of Colorado, established by the Colorado General Assembly for the purpose of increasing the supply of decent, safe and sanitary housing for low and moderate-income families; and to promote sound economic development by supporting business enterprises. Our mission is to strengthen Colorado by investing in affordable housing and economic development. Our vision is that everyone in Colorado will have the opportunity for housing stability and economic prosperity. More information on CHFA may be found at the CHFA website CHFA s national industry group is the National Council of State Housing Agencies ( and has information that may be useful. Background CHFA is seeking a comprehensive technology assessment that will evaluate all of CHFA s technology systems, operations and use, and compare to best practices. Ideally, this assessment will be tailored to the unique role that CHFA has as a not-for-profit, quasi-governmental, financial services organization. CHFA s main office is in Denver, CO. We employ approximately 175 staff and our 2017 general fund revenue is estimated at $135 million. CHFA is a complex business with many lines of business. The main line of business is Single Family loan acquisition in which CHFA acquires loans from originating lenders and securitizes those loans with Ginnie Mae, Fannie Mae, Freddie Mac or places loans into bonds issued by CHFA. CHFA offers down payment assistance in the form of either an interest free second mortgage or a grant. In 2017, CHFA is expected to acquire $1.8 billion in single family loans. CHFA is the master servicer for our single family loan portfolio and provides oversight to a third-party sub-servicer. CHFA originates Multifamily and Small Business Loans as well as administers several programs for the State and nonprofit foundations. 1

2 CHFA issues bonds in the municipal market to support single family and multifamily lending. CHFA is the Colorado allocating agency for the federal Low Income Housing Tax Credit (LIHTC) and the Colorado state housing credit. CHFA manages a HUD contract to provide payments for the Section 8 program in Colorado. Due to the varied nature of these business functions, CHFA has several key mission critical technology systems to support this business activity. Ideally, respondents would have familiarity with housing authority programs and functions, their use of technology, and their risk portfolio. Annually, CHFA is subject to many audits including an annual review of technology as part of CHFA s financial audit. In addition, CHFA has an Internal Audit function that conducts 2-3 reviews of core IT functions annually. CHFA also employs an Information Security Officer that reports to the Director of Enterprise Risk that conducts assessments and makes recommendations for improvements. However, it has been several years since CHFA has had an independent, third-party comprehensive assessment to validate and compare our technology and processes to industry standards. CHFA currently invests approximately $8 million a year in technology operating expenses and capital and is looking to evaluate that investment based on CHFA s strategic plan and goals. CHFA would like to benchmark our technology to other mid-sized financial services firms. CHFA wants to better understand the key opportunities for improvement and solutions that can drive business innovation and growth, operating efficiency and process improvement while also identifying the strengths and weaknesses of our technology and processes. CHFA desires to know if we are rightsized with technology staff (and contractors) for the level of desired technology solutions. CHFA desires a review of its annual and three year roadmaps to validate and recommend technology investment, improvements and innovation. Scope of Services CHFA is seeking proposals from consulting / advisory firms to perform a comprehensive assessment of Information Technology including people, process, and technology. CHFA wants to identify high-value items for improvement that are not currently known, planned or contemplated (blind spots) and understand the strengths of its current technology and processes. Ideally, CHFA seeks to compare itself to similar financial services organizations based on size and complexity. Primary Goals: - To assess the current state of technology, the degree of IT and business alignment, and the effective use of technology throughout the Authority - To make recommendations to improve efficiency and effectiveness of IT services, both infrastructure and applications - To provide an assessment of the strengths, weaknesses, opportunities and threats (SWOT) of CHFA s technology and technology services - To make recommendations for opportunities of improvement including, but not limited to the following areas 1. Technology Strategy and Governance 2

3 a. Review existing strategy documents and governance process. Gather input from relevant stakeholders. Compare to similarly sized organizations, note the current strengths and make recommendations to improve the current plans and processes. Recommend new technology and governance strategies for implementation over next three (3) years. b. Assess stakeholder relationships and level of satisfaction with technology, people and process. c. Assess current three year map of prioritized projects and make recommendations for an appropriate level of technology investment going forward. 2. Technology Vendor Management and Cost Optimization a. Review technology budgets and compare costs to other similarly sized financial services organizations. Note current strengths and make recommendations for the right level of investment (cost optimization) based on CHFA s strategic goals and relevant industry metrics. b. Review vendor management oversight process and documentation. Note current strengths and make new recommendations for process improvements. 3. Technology Resources and Organizational Design a. Review current staffing and plans as well as use of contract resources. Compare to other similarly sized organizations based on complexity, headcount, and general fund revenue size. Note current strengths of the current structure and resources and make recommendations for a right-sized technology team and roles. b. Assess technology team s knowledge management and cross training practices. Note strengths and recommendations for improvement. 4. Infrastructure and Operations a. Examine relevant documentation, gather data from key stakeholders, note strengths and areas for improvement. b. Review service level objectives metrics within Operations. Note strengths and recommendations for improvement. c. Review current processes including but not limited to Help Desk, System Administration, Backups, Patch Management, Release Management, and Change Management. Note strengths and provide recommendations for improvement. d. Evaluate Infrastructure & Operations and provide level of maturity using industry accepted model based on people, process, technology, and alignment with the business. 5. Security and Risk a. Note: Security assessment is excluded from this RFP request. CHFA will be undertaking a comprehensive security assessment independent of this RFP except for the items noted below in 6b which are included. 3

4 b. Review the critical technology components of CHFA s IT Disaster Recovery and Business Impact Assessment, Business Continuity Plan and Information Security Incident Response Plan. Provide a comparison to other similar financial services organizations based on size and complexity. Note strengths and areas for improvement. 6. Applications and Application Development a. Review CHFA s enterprise application architecture and provide recommendations. Assess the application selection and implementation process. Note strengths and recommendations for improvement. b. Review CHFA s application portfolio. Assess CHFA s key business applications (approximately 10) whether custom or third-party and assess the quality of the application as well as stakeholder perception. Using existing documentation and stakeholder input. Note strengths and make recommendations for improvements. c. Assess Application Development quality and throughput. Review current Software Development Life Cycle (SDLC) process. Note strengths and provide recommendations for improvements. d. Assess Application maintenance. Note strengths and provide recommendations for improvements. e. Assess level of business use and adoption of applications. Note strengths and provide recommendations for improvements. 7. Business Intelligence a. Examine relevant documentation, assess data architecture and data quality, gather data from key stakeholders, review sample work products including dashboards and reports, note strengths and areas for improvement. 8. Organizational Change Management / Program / Project Management a. Review CHFA s strategic plan, gather input from relevant stakeholders including members of CHFA s Research and Strategy Team that perform some roles typically a Project Management Office would play in addition to business process mapping and analysis. Note strengths and areas for improvement and possible new ways to encourage innovation in the organizational change process. b. Review CHFA s overall governance, planning and prioritization of projects. i. Evaluate project delivery including scope, timeline and budget in projects and operations based on business needs. ii. Evaluate how projects and tasks are prioritized and provide recommendations for improvement Review current project management methodologies and determine if opportunities for improvement exist based on business need. c. Review CHFA s current Organizational Change Management processes. Note strengths and areas for improvement and possible new ways to encourage innovation in the organizational change process. 4

5 d. Review CHFA s remote working policy, practices and technology solutions, compared to other companies with remote working opportunities. 9. Special Focus on Single Family technologies Proposal Requirements a. Examine all technology systems involved in the single family loan acquisition process. Determine stakeholder satisfaction of these systems. Note the current strengths and make recommendations for improvements or new technologies that would provide additional automation or efficiency. b. For CHFA s primary mission critical line of business application (STARS), assess the quality of the application and provide a high-level assessment of the business value it provides. Review product backlog, roadmap of enhancements and upgrades. Note strengths and recommendations for improvements. c. Assess the quality of the STARS eco-system of applications, their business value, and business perception of the applications. Assess the life expectancy/value of current systems vs. where the mortgage industry is headed. d. Examine data, reporting and analytics that support single family processes including profitability analysis, operational metrics and dashboards, and decide of the quality, usefulness of the reporting and analytics capabilities, and recommendations for improvement. A. Please provide a company description, a copy of the most recent financial statements, and years in business. B. Please provide examples of applicable consulting services and sample deliverables like those described in this RFP. C. A summary description of the proposed approach, major benefits, and timetable and milestones for completing the Services requested including details on how the Respondent would engage with CHFA, the availability of analysts (time constraints, limits in frequency), research content available, and description of any / all tools, templates, documentation, etc. offered as part of the proposed approach. D. A cost proposal for the Services is requested. If your firm wants to bid on only certain items noted in scope of services, please note which ones are excluded. E. A description of the value and return on investment that CHFA should anticipate from the Services. F. Indicate the name, title, telephone number and address of the individual who will be the principal contact for CHFA. G. If applicable to the methodology proposed, credentials and resumes of consultant(s) who would be assigned to provide the Services. H. Names, phone number, and addresses of contacts for three (3) client references. 5

6 I. Note: Finalist will need to provide name of professional insurance carrier and amount of coverage carried. J. Note: CHFA encourages minority-owned and woman-owned business enterprise (MBE/WBE) to apply. For selected finalists, upon signing a limited confidentiality / non-disclosure agreement, background and strategic information that can be provided to respondents to use in the assessment includes, but is not limited to, CHFA strategy map, IT strategy and roadmaps, organizational charts, technology budget and trends, service level objectives, system models, prior audits and responses, customer satisfaction surveys, network diagrams, and policies and procedures. CHFA will consider all the following criteria in evaluating the proposals: 1. Quality. Examples of similar work and sample deliverables should be provided and show evidence of high-quality, thoughtful and valuable recommendations that are tailored to CHFA s strategy while taking into consideration future industry and technology trends. Ideal deliverable samples are clear, concise, visual and can quickly convey information to an executive audience while still providing enough detail so that recommendations are clearly understood and are actionable. 2. Type of engagement and timeline. The approach, methodology and length of time to conduct the assessment and provide a deliverable will be a factor. Ideally, CHFA would like to start the assessment as soon as a provider is selected. 3. Innovation. Work product provided should clearly show evidence of fresh insights and innovative recommendations that would help move the business forward 4. Cost. Proposals should explain how you will maximize value to CHFA while minimizing costs. Include any available discounts and rate concessions that may apply. Note: CHFA is a nonprofit tax-exempt governmental unit and is considered tax-exempt under Section 501(c)(3) of the Internal Revenue Code. CHFA reserves the right to reject all proposals after reviewing all responses to this RFP. CHFA is not required by law to conduct this RFP and reserves the right to cancel or withdraw this RFP at any time and for any reason. In addition, CHFA reserves the right to negotiate the terms of the responses with any respondent prior to commencing services and to negotiate with other respondents if negotiations are not concluded with any selected respondent(s). CHFA reserves the right to select one or more firms for engagement. Engagement of a firm does not guarantee a firm any percentage or other allocation of business from CHFA. CHFA will allocate its business to firms as determined necessary and appropriate. Each approved firm will execute an engagement agreement satisfactory to CHFA and will agree that it will comply with the provisions of Colorado Revised Statutes applicable to contracts with CHFA. Additional firms may be engaged from 6

7 time to time as CHFA s needs require and such engagement need not be pursuant to this RFP or any other RFP process. Submission Requirements Process Timeline Posting of Request for Proposal: Friday, 11/17/2017 Questions Submit on or before: Thursday 11/30/2017 Deadline for Proposal Submission: Friday 12/15/2017 Due Diligence with Finalists: January 2018 Anticipated Decision Date: Early February 2018 Electronic responses to this request for proposal must be received by CHFA no later than 4:00 pm, Mountain Time, on December 15, 2017 at the following address: Kelly Becker IT Director kbecker@chfainfo.com Note: The subject line must be RFP Technology Assessment. Requests for additional information and/or questions and requests for clarification may be sent, via , to Kelly Becker, kbecker@chfainfo.com. All such communications must be received by 4:00 pm on Thursday, November 30th All questions, as well as responses, will be posted in the Requests for Proposal section of CHFA s website no later than Wednesday 12/6/2017 by 5 pm MT A call may be scheduled to respond to questions as well. Notice would be posted on CHFA s website. Firms and their representatives should not contact CHFA staff or Board members regarding this RFP after posting, other than through the process described above. Additional Conditions 1. CHFA and the selected vendor will enter into a contract, describing the terms and conditions of the services to be performed, including vendor compensation. By selecting a vendor for this assessment, it in no way guarantees future selection of the same vendor to perform recommendations noted in response to this RFP. 2. All submitted proposals become the sole and exclusive property of CHFA. 3. CHFA is a Political Subdivision of the State of Colorado, and, therefore, is subject to the Colorado Open Records Act (C.R.S Et Seq) (CORA). Responders to this RFP (each a Respondent ) 7

8 acknowledge and agree that the response to the RFP and any other related materials submitted to CHFA are not considered confidential information. 4. CHFA is subject to C.R.S , which provides that, unless there is an applicable exclusion, Colorado state agencies and political subdivisions may not enter into, or renew, a contract for services (labor, time or effort, not involving a specific product) with a contractor who knowingly employs or contracts with an illegal alien to perform work under the contract or who knowingly contracts with a subcontractor who knowingly employs or contracts with an illegal alien. Therefore, if a contract is a public contract for services, the vendor must certify that the vendor does not knowingly employ or contract with an illegal alien; and that the vendor participates in either the Department of Homeland Security/Social Security Administration E-Verify Program or the State of Colorado Department of Labor and Employment Program. Further, there are required contract provisions relating to the vendor s agreement to not knowingly employ or contract with any illegal aliens. 5. Additional information that is reasonably necessary for CHFA to fairly and comprehensively evaluate proposals may be enclosed with a proposal, as long as such information clarifies or substantiates written responses. 6. During the evaluation and decision process, CHFA may request additional information or clarifications from responders. At its discretion, CHFA may request certain responders to make oral presentations. 7. CHFA shall not be liable for any expenses, including travel expenses related to preparation of the proposal, any due diligence by the responder and/or CHFA, and the contract negotiation process. 8. CHFA reserves the right to reject any or all proposals after reviewing all responses to this RFP. CHFA is not required by law to conduct this RFP and reserves the right to cancel or withdraw this RFP at any time and for any reason. CHFA reserves the right to reissue a new RFP for the same or similar services or to postpone proposal deadlines for its own convenience. 9. CHFA is committed to diversity and inclusion with its suppliers to meet the growing needs of its customer base. CHFA staff understands that the purchasing decisions that we, and our vendors make, can impact the community we serve through People, Planet, Purpose, and Price. The four- P (4P) procurement standards are embedded in our vendor diversity standards to ensure we are reducing the environmental impact of our purchasing decisions and expanding our diversity outreach, while maximizing the purchasing value of our funds. 10. This RFP and the resulting contract shall be governed by the laws of the State of Colorado and venues for any actions shall lie exclusively in Denver, Colorado. By submitting a response to this RFP, Respondent irrevocably submits to the exclusive personal jurisdiction of the courts located in the City and County of Denver. 11. Written approval from CHFA must be obtained for any media releases regarding an award of the contract by CHFA. 8

9 12. By submitting a proposal, Respondent agrees to waive any claim(s) it has or may have against CHFA and/or any of the current or former CHFA directors, officers, board members, employees, or agents arising out of or regarding (1) the administration, evaluation, or recommendation of any proposal (2) waiver of any requirement under this RFP, (3) acceptance or rejection of any proposal, and (4) award of the contract. 9

REQUEST FOR PROPOSAL

COLORADO HOUSING AND FINANCE AUTHORITY REQUEST FOR PROPOSAL (RFP) COLORADO HOUSING AND FINANCE AUTHORITY 1981 BLAKE STREET DENVER, CO 80202 REQUEST FOR PROPOSAL Hyperconverged Infrastructure Solution POSTED: