Custodial Banking Services

The Vendor is required to provide comprehensive custody services in support of the investment activities of University.
- The University seeks a custody partner with demonstrated experience serving large public universities and governmental entities, with expertise in supporting intermediate-term investment pools that balance liquidity needs with enhanced return objectives.
- Provider must be capable of servicing a diversified portfolio of fixed income and short-to-intermediate duration strategies, including comingled vehicles and separately managed accounts, while ensuring accurate valuation, income collection, and performance reporting. 
- The custodian should facilitate efficient cash management, timely settlement, and seamless coordination with external investment managers and the University’s internal treasury operations to support the ongoing management and liquidity profile of the pool.
- Safekeeping and Asset Custody
•    Safekeeping of securities, cash, and other financial assets
•    Maintenance of segregated custody accounts in the University’s name
•    Support for a wide range of asset classes, including but not limited to:
o    Fixed income securities
o    Comingled and pooled investment vehicles
o    Cash and cash equivalents
- Trade Settlement and Transaction Processing
•    Settlement of securities transactions, primarily in domestic market
•    Timely and accurate processing of purchases, sales, maturities, corporate actions and income events
•    Monitoring and resolution of failed trades
•    Same-day or next-day processing in accordance with market standards
- Cash Management and Banking Services
•    Cash collection and disbursement services related to investment activity
•    Automated cash sweeps and short-term investment options, where permitted
•    Integration with the University’s banking and treasury operations
•    Support for wire transfers, ACH transactions, and other payment mechanisms.
- Investment Accounting and Reporting
•    Daily position and transaction reporting
•    Monthly and quarterly statements, including holdings, transaction activity, and income.
•    Performance measurement support, if available
•    Customized reporting to meet University, Board and management needs
•    Reports supporting Governmental Accounting Standard Board (GASB), generally accepted accounting principles (GAAP), and other applicable accounting standards.
•    Audit support, including confirmations and reconciliation assistance.
- Compliance, Risk and Control Support
•    Asset-level compliance monitoring based on university provided guidelines.
•    Support for regulatory and policy reporting.
•    Disaster recovery and business continuity capabilities.
- Client Service and Relationship Management
•    Assignment of a dedicated relationship manager and service team.
•    Clearly defined service escalation procedures.
•    Regular service reviews.
•    Training and support for university staff on systems and reporting tools.
- Technology and Systems
•    Secure online access to custody systems and reporting portals.
•    Data interface and file delivery options that are compatible with university systems and selected fund managers.
•    Cybersecurity protections and user access controls