Banking and Treasury Management Services

The Vendor is required to provide banking and treasury management services for County.
- Account types: 
o    Checking 
o    Savings 
o    Money Market 
o    Sweep 
o    Non-Sweep 
o    Fiduciary/Trust Accounts
- Objectives
•    Secure and reliable banking operations
•    Full protection of public funds through agency insurance, collateralization, or other legally compliant depository safeguards to ensure all county deposits are protected against loss
•    High quality customer service
•    Competitive earnings and cost structure
•    Modern technological and system integration capabilities
•    Strong fraud protection and risk management tools
•    Banking partner that demonstrates investment in and support to the county community
•    Integration between banking services and other financial systems used by county
- Account management
•    Management of multiple account types and structures
•    Sweep and non-sweep account options
•    Interest-bearing account options, including money market accounts
•    Ability to consolidate services where appropriate
•    Strategy to increase return on county balances
•    All accounts balances insured by agency or otherwise fully collateralized in accordance with applicable law
•    Must comply with the state public deposit protection act account uptime and service responsiveness standards/targets
- Treasury management services
•    ACH origination, returns, reversals, and receipts
•    Wire transfer services (incoming and outgoing)
•    Check processing, clearing, and exception handling
•    Remote deposit capture across multiple departments
•    Lockbox services- either an in-house solution or an external solution (instate preferred)
- Technology and system integration
•    Secure file transfer protocol (SFTP) capabilities
•    Integration with county systems (workday, Tyler/eagle, teller enterprise)
•    Support for standard banking file formats (e.g., bai2, ach, positive pay files)
•    Online banking platform with user roles, permissions, and audit capabilities
- Fraud prevention and security
•    Defined cybersecurity controls and security standards
•    Positive pay and exception handling
•    Multi-layer fraud detection tools (check, ach, wire)
•    Authentication and authorization controls
•    Insurance and loss recovery processes
•    Breach notification, incident response cooperation, and incident response standards
•    Indemnification for losses resulting from failures in data security.
- Business continuity and disaster recovery
•    Recovery time objective (RTO)
•    Recovery point objective (RPO)
•    Historical performance in disruption events
•    Testing frequency, date of last test, and summary of results
- Customer service and support
•    Account management team
•    Service level agreements (SLAS), including response times, issue resolution timelines, and escalation protocols, along with remedies or credits for failure to meet such standards
•    Implementation and onboarding support
•    Ongoing training and technical assistance
•    Account management team’s quarterly meeting agendas.