About this opportunity
AI summaryThe New Jersey Cyber Risk Management Fund requires wire transfer and electronic payment security consultant services to help members achieve compliance with banking best practices on an as-requested basis. The selected consultant will assess member financial controls, review distribution methods and employee fraud awareness, and deliver practical assessments with corrective action plans. Bidders must be USA-based organizations holding an active CMFO license, audit experience, and at least seven years of municipal finance experience. Bidders must submit all inquiries by November 23, 2026. Sealed bid packages must be uploaded electronically via BidNet by December 2, 2026, at 10:00 A.M., with no physical or email proposals accepted. Proposals will be evaluated based on technical criteria (40 percent), managerial criteria (40 percent), and cost (20 percent) for the 2027 fund year.
Buyer and opportunity details
- Client
- New Jersey Cyber Risk Management Fund
- Solicitation No.
- CC# 26-03
Scope of work
- Provide wire transfer and electronic payment security consultant services on an as requested basis
- Assist members to accomplish compliance with Municipal Excess Liability Joint Insurance Fund Banking Best Practices
- Provide and discuss with member management a practical overall financial cyber control assessment
- Issue critical findings and opportunities to improve
- Develop a prioritized corrective action plan
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Technical | 40% |
| Managerial | 40% |
| Cost | 20% |
Minimum qualifications
- Minimum of 7 years of experience in Municipal Finance with direct experience
- Active CMFO License
- Audit Experience with control testing, transaction testing, risk assessment
Documents to include with your response
- Fee proposal
- Proposal Page
- Statement of Ownership Disclosure Form
- Non-Collusion Affidavit
- Experience and Background Questionnaire
- Acknowledgement of Receipt of Addenda
- Review Fund Standard Contract and Affirm Acceptance
- Business Registration Certificate
- Disclosure of Investment Activities in Iran Form
- Certification of non-involvement in Prohibited Activities in Russia or Belarus
Key dates
- Proposals due
- December 2, 2026 at 10:00 A.M.
How to submit
- Method
- Electronic via BidNet
- Instructions
- Upload bid package electronically on BidNet at www.bidnetdirect.com//njcyberjif. No physical or email submissions will be accepted.
Contract details
- Term
- Fee proposal requested for 2027 fund year with subsequent two-year periods, with right to award in any combination of a 1 to 5 year contract.
- Insurance and bonding
- Professional Liability Insurance: $1,000,000 / $1,000,000; Bond if required by by-laws or pursuant to NJAC 11:15-2 et seq.