Investment Advisory and Cash Management Services
New York > Olympic Regional Development Authority
Original Solicitation Links
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Submission Instructions
Description
The New York State Olympic Regional Development Authority is seeking a qualified investment advisor to review its cash and investable reserves, recommend an investment strategy consistent with the Authority's adopted Investment Policy and New York law, and provide ongoing management, monitoring, and reporting. The anticipated portfolio is approximately $10 million, consisting of restricted and unrestricted funds that may fluctuate with operating cash flow, revenues, expenditures, weather, and seasonal conditions; the amount is not guaranteed and there is no separately defined additional cash-management pool. Funds may move between investment and operating accounts as needed. The illustrative portfolio emphasizes high-quality, liquid, short- to intermediate-term investments, including U.S. Treasury securities, government agency securities, government money market or investment funds, certificates of deposit, municipal securities, corporate securities or commercial paper, and a short-term liquidity reserve. The selected advisor will recommend an appropriate allocation consistent with principal preservation, liquidity, risk tolerance, and competitive risk-adjusted returns; the Authority is not seeking an equity-oriented or materially high-risk portfolio. Addendum 2 also clarifies that proposers should explain any recommended changes to the illustrative allocation and their rationale. Ongoing responsibilities include portfolio monitoring, investment execution or recommendations, compliance monitoring, statements, performance reporting, trade documentation, and investment-policy review support. Addendum 3 updates the minimum qualification to require registration as an investment adviser with the U.S. Securities and Exchange Commission or the State of New York, as applicable, and/or regulation by the U.S. Department of the Treasury Office of the Comptroller of the Currency, in good standing.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- General Liability — $1,000,000.00
- Automobile Liability — $1,000,000.00
- Umbrella Liability — $2,000,000.00
- Employer's Liability — $1,000,000.00
- Data Breach and Privacy/Cyber Liability Insurance — $5,000,000.00
- Technology Errors and Omissions Insurance — $5,000,000.00
- Crime Insurance — $5,000,000.00
- Professional Liability — $2,000,000.00
- Minimum 3 references
- Client point of contact required for each reference
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