Describe the current structure of your organization. Provide an organizational chart(s) showing the relationships and authority within the Master Trust/Custody Service unit and within the organization. Provide a copy of your most recent annual report and comment on any planned organizational changes subsequent to the report, in particular, the possibility of a merger with another organization (Annual report not included in the 100 page limit to the proposal). List the percentage of total firm revenues derived from Master Trust/Custody Services for the five most recent fiscal years and the projection for the current year. For the most recent five fiscal years and next year's projection, identify by year the amount of money your organization has invested (and expects to invest) in technology and information systems’ development. What were your organization's long term and short term credit ratings at 3/31/13, 12/31/12, 12/31/11, and 12/31/10? Please provide the rating from all services (Standard & Poor’s, Fitch, Moody's, etc.) which reviewed your organization’s financial standing at each of the above dates. Please provide, in descending order by asset size, the name of your organization’s ten largest public fund custody clients. Include the total number of plans, total number of accounts (or portfolios), length of service, contact person and phone number for each relationship. Please respond in the following format: Name Total Assets # of Plans # of Portfolios Client Since Contact Name Phone # How many public fund master custody clients has your organization gained and lost in each of the past three years (including 2012)? For each account lost, indicate the client’s name, the size of the fund, a brief reason for termination and provide a contact name and phone number. Provide a list of all Master Trust/Custody office locations both in the U.S. and abroad. In what city or cities would (a) PRIT’s assets be maintained? (b) PRIT’s recordkeeping take place? (c) PRIM’s designated contact person be located? Commitment to Relationship 2a. Client Service How many professional staff are devoted exclusively to the delivery of Master Trust/Custody services? What approach to account administration is used (i.e., relationship manager, account teams, account administrator with support group)? Record below the level of personnel turnover experienced by your organization during the past three years as follows:
Does your organization maintain a code of ethics? How does your organization train employees to live by the code of ethics and ensure the highest level of integrity? What measures of enforcement are instituted for breaches of the code? Please provide a copy of the code of ethics. (Code of ethics is not included in 100 page limit to the proposal) Provide a brief overview of the internal control environment of your organization. Describe management’s philosophy and operating style with regard to the organization’s internal control environment. How is the importance of internal controls communicated and demonstrated to staff and clients? Describe the process your organization uses to evaluate the effectiveness of internal controls and the on-going monitoring of the internal controls. Specifically, how does your organization assure that Master Trust/Custody Services are provided in accordance with proper standards of care, regulatory requirements and the executed service agreements? Briefly list and describe the nature of internal control exceptions reported in your most recent SSAE #16 audit report. What steps have been taken to correct the errors or otherwise improve internal controls? Please provide a copy of the most recent SSAE #16 audit report issued. (SSAE #16 Report is not included in the 100-page limit to the proposal.) Does your organization employ an internal audit department? If so, to whom does this department report? How often are internal audit reviews performed on custody and fund accounting services? Provide copies of audit opinions and internal control recommendations (management letters) issued by your independent and/or internal auditors specifically related to Master Trust/Custody Services within the last three years (Audit opinions and management letters not included in the 100 page limit to the proposal). Custody and Safekeeping of Assets Briefly describe your organization’s domestic and international global custody service capabilities. Include a discussion of any recent or planned enhancements. When did your organization begin providing global custody services? Explain how your organization’s custody and safekeeping units are structured. Are the domestic and global custody operations integrated or separate units? Briefly discuss your organization’s policy and procedures for assuring that clients’ assets are properly held in safekeeping and positions are accurately maintained electronically. Include information on segregation of assets and distinctions between physical and book entry positions. How often does your organization reconcile the accounting positions to the custody positions? At what point are clients notified of exceptions? Describe your domestic and international depository memberships (i.e. DTC) and the services used by your organization. Briefly describe your organization’s system for the registration and custody of assets.