Provision of an accredited Postgraduate Diploma in Financial Services

AI-generated analysis of the documents. Check the official notice and any amendments for current submission details.

1. At a glance

2. Scope of Work

The contract involves the design, development, delivery, and validation of an accredited Postgraduate Diploma in Financial Services, specifically tailored for staff of the Department of Finance. The course aims to provide a comprehensive understanding of financial services, including legal, regulatory, market, and operational frameworks, along with the digitalization of finance. The expected scale of the program includes a year-long modular structure, with an anticipated launch in Quarter 1 of 2024.

Key activities include:

• Course Design and Development: Create a curriculum that meets QQI standards and ISO 17024 requirements.
• Delivery Format: The program may be delivered in a blended format, combining classroom sessions (suggested hours from 15:00 to 19:00) at the Department's premises and eLearning components.
• Technology Utilization: The Department currently employs Skype for Business for eLearning; the contractor must integrate this technology into the course delivery.
• Validation: Ensure that the course meets accreditation standards and is validated by QQI.
• Participant Engagement: Facilitate learning through interactive modules and assessments, ensuring a broad understanding of financial services.

The contractor must be prepared to adapt the course delivery based on social distancing requirements, potentially altering the balance between in-person and online learning.

3. Background & buyer context

This procurement aligns with the Department of Finance's strategic initiative to enhance the skills and knowledge of its staff in financial services. The decision to procure this service now is driven by the need for continuous professional development in a rapidly evolving financial landscape, particularly in response to digital transformation trends. The Department has not specified an incumbent provider, indicating an open opportunity for new bidders to enter the market.

4. Eligibility & selection criteria

Bidders must meet the following eligibility and selection criteria:

• Turnover requirement: Not specified for this tender.
• Insurance:
• Professional Indemnity Insurance: €3 million
• Employer’s Liability Insurance: €12.7 million
• Public Liability Insurance: €6.5 million
• Cyber Liability Insurance: €1 million
• Certifications: Must hold delegated authority from Quality and Qualifications Ireland (QQI) and comply with ISO 17024 standards.
• Past experience: Minimum of two comparable projects in the last five years, focusing on designing, developing, and delivering financial services programs.
• Personnel: Staff involved must have relevant qualifications and experience in financial services education.
• Geographic / facility constraints: Not specified for this tender.

5. Award criteria & scoring

Bids will be evaluated based on the following criteria:

The evaluation will follow a Most Economically Advantageous Tender (MEAT) approach, focusing on both price and quality. A minimum scoring threshold applies to each criterion, with specific pass/fail requirements.

6. Submission requirements

Bidders must submit the following documentation:

• Method statement / response document: Follow the named template with specified page limits.
• CVs: Include CVs for key personnel, limited to two pages each.
• Pricing schedule: Complete the pricing schedule as per Appendix 2.
• Case studies: Provide details of two relevant projects, including value ranges.
• Declarations: Submit the European Single Procurement Document (eESPD), Bona Fides, Tax clearance, and Conflict of Interest declarations.
• Mandatory site visit: Not specified for this tender.
• Submission portal: All documents must be submitted via the electronic postbox on eTenders.

7. Key dates & process

8. Contract terms that matter

Key contract terms include:

• Term and extension structure: The contract will be issued for an initial term, with the possibility of one extension for up to one year.
• Payment terms: Payments will be made in accordance with the Services Contract, with all prices quoted being inclusive of all costs except VAT.
• Key SLAs/KPIs: Specific performance indicators will be outlined in the Services Contract.
• Termination clauses: The contract may be terminated with 14 days' notice for breaches that are capable of remedy.
• IP ownership: Intellectual property created during the contract will be owned by the Department of Finance.
• Sub-contracting rules: Subcontractors must be disclosed and approved by the Contracting Authority.

9. Risks, red flags & unusuals

Potential risks and concerns include:

• Insurance thresholds: The requirement for high levels of insurance may limit participation to larger firms.
• Experience requirements: The need for two comparable projects in the last five years may exclude newer entrants to the market.
• Tight timeline: The course must be ready for delivery by Quarter 1 2024, which may be challenging for some bidders.
• Blended learning format: The requirement to adapt to potential social distancing measures could complicate course delivery logistics.

10. SME fit assessment

This tender is suitable for small to medium enterprises (SMEs) that specialize in educational services, particularly in financial services. Viable bidders should possess:

• Relevant experience in designing and delivering accredited educational programs.
• The capacity to meet insurance requirements.
• A team with qualifications in financial services education.

Consortium arrangements are permitted, allowing smaller firms to collaborate with larger entities to meet the tender requirements. Preparation for the bid may require several days of effort, including documentation and proposal development. The presence of stringent experience requirements may indicate a competitive bidding environment, potentially favoring established providers.

11. Where to dig deeper

• Source RFT filename: 2023 Diploma in Financial Services RFT 09.10.2023.docx
• eTenders CFT ID: Not specified
• Contact email: Not specified; use the messaging facility on eTenders for queries.
• Important attachments:
• Appendix 1 — Requirements and Specifications
• Appendix 2 — Pricing Schedule
• Appendix 3 — Tenderer’s Statement