Banking, Investments and OPEB Trust Admin Services

The Housing Authority of a government entity in Connecticut is seeking a vendor to provide comprehensive banking, investments, and Other Post-Employment Benefits (OPEB) trust administration services. The agency needs to manage its daily financial operations efficiently while ensuring robust fraud protection. The finance department and property manager will make daily deposits using remote scanning, online systems, and physical deposits into the designated accounts. The scope of work covers the administration of multiple accounts, including a General Fund Account and a Federal Low Income Public Housing (LIPH) Account. The General Fund Account will function as a revolving account to fund payroll and a portion of the accounts payable expenses. The Federal LIPH Account will serve as the primary tenant rent collection account for the Public Housing program, accepting receipts via physical deposits and electronic direct deposits. The agency requires positive pay fraud protection services and online inquiry capabilities for all transactions. Eligible bidders must be onshore organizations based in the United States. The agency requires the selected vendor to perform all work offsite. Bidders must submit any questions regarding this opportunity no later than June 18, 2026. The agency is currently looking for proposals to determine the budget and cost structure for these services.