Government Actuary's Department

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Supplier
ReviewBody

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Large

Company Number

Incorporation Date

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Finlaison House, 15-17 Furnival Street

London
EC4A 1AB
United Kingdom

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Contracts awarded to Government Actuary's Department

The contracts that Government Actuary's Department have been awarded to supply. Click on the contract to view more detailed information and view the full details about the contract won.

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Published 7 months ago

Financial Risk Modelling Services

Homes England produces a range of macroeconomic forecasts on a quarterly basis. These macroeconomic forecasts need to be translated into the impact on the portfolio, and used to quantify, understand, and manage the financial risk to the Agency. Homes England manages a multi-billion-pound Recoverable Investment portfolio consisting of c. 300 loans. The portfolio has been running since 2016 and is highly concentrated in the UK housing market with a skew towards small / medium housebuilders with limited financial and credit history, as well as special purpose vehicles (SPVs) set up to specifically to develop a site. Security for the loans is typically provided by the land associated with the development. Internal data for quantitatively estimating the impact of different macroeconomic scenarios on the various model parameters is limited. A range of models including Expected Credit Loss models and Stress Testing models are used to quantify the financial risk of different macroeconomic scenarios on the Recoverable Investment portfolio. The inputs into these models are generally Probability of Default estimates (both through the cycle and point in time), exposure at default estimates, and Loss Given Default estimates. The regularly updated macroeconomic forecasts therefore need to be translated into these parameters for use in the various models. The Quantitative Risk and Stress Testing team (QRS) at Homes England manages this process. All loans are internally credit rated on origination and on a regular basis throughout the term of the loan. The current process for producing the parameter estimates involves both quantitative analysis and qualitative assessment, converting the internal ratings into the required parameter estimates. Homes England also subscribes to an external ratings agency service to assist with benchmarking the estimates. Homes England is seeking assistance on producing these estimates on an ongoing basis. This requirement forms Lot 1: Financial Risk Parameter Estimation Services (£500k estimated value) of the Service. See Appendix A: Lot 1 Service Scope. It is envisaged that a single supplier will be appointed to lot 1. Homes England is also seeking support in designing, building, and implementing additional financial and financial risk models to improve its understanding of the current portfolio, and to model new products and programmes. This requirement forms Lot 2: Financial Risk Modelling Advisory Services (£500k estimated value). See Appendix B: Lot 2 Service Scope. It is envisaged that there will be 4 suppliers appointed for lot 2. Homes England designs, builds, and maintains a wide range of financial and financial risk models. These models and methodologies are applied to a wide range of financial and risk management problems, including credit risk modelling, scenario analysis and forecasting, stress testing, and IFRS 9. Homes England is also seeking external support to provide model validation and assurance services on these models. This requirement forms Lot 3 Model Review and Validation Services (£300k estimated value). See Appendix C: Lot 3 Service Scope. It is envisaged that a single supplier will be appointed to lot 3

£2,800,000
Award

Published 7 months ago

Financial Risk Modelling Services

Homes England produces a range of macroeconomic forecasts on a quarterly basis. These macroeconomic forecasts need to be translated into the impact on the portfolio, and used to quantify, understand, and manage the financial risk to the Agency.\r \r Homes England manages a multi-billion-pound Recoverable Investment portfolio consisting of c. 300 loans. The portfolio has been running since 2016 and is highly concentrated in the UK housing market with a skew towards small / medium housebuilders with limited financial and credit history, as well as special purpose vehicles (SPVs) set up to specifically to develop a site. Security for the loans is typically provided by the land associated with the development. Internal data for quantitatively estimating the impact of different macroeconomic scenarios on the various model parameters is limited.\r \r A range of models including Expected Credit Loss models and Stress Testing models are used to quantify the financial risk of different macroeconomic scenarios on the Recoverable Investment portfolio. The inputs into these models are generally Probability of Default estimates (both through the cycle and point in time), exposure at default estimates, and Loss Given Default estimates. The regularly updated macroeconomic forecasts therefore need to be translated into these parameters for use in the various models. The Quantitative Risk and Stress Testing team (QRS) at Homes England manages this process.\r \r All loans are internally credit rated on origination and on a regular basis throughout the term of the loan. The current process for producing the parameter estimates involves both quantitative analysis and qualitative assessment, converting the internal ratings into the required parameter estimates. Homes England also subscribes to an external ratings agency service to assist with benchmarking the estimates.\r \r Homes England is seeking assistance on producing these estimates on an ongoing basis. This requirement forms Lot 1: Financial Risk Parameter Estimation Services (£500k estimated value) of the Service. See Appendix A: Lot 1 Service Scope. It is envisaged that a single supplier will be appointed to lot 1.\r \r Homes England is also seeking support in designing, building, and implementing additional financial and financial risk models to improve its understanding of the current portfolio, and to model new products and programmes. This requirement forms Lot 2: Financial Risk Modelling Advisory Services (£500k estimated value). See Appendix B: Lot 2 Service Scope. It is envisaged that there will be 4 suppliers appointed for lot 2.\r \r Homes England designs, builds, and maintains a wide range of financial and financial risk models. These models and methodologies are applied to a wide range of financial and risk management problems, including credit risk modelling, scenario analysis and forecasting, stress testing, and IFRS 9. Homes England is also seeking external support to provide model validation and assurance services on

£1,300,000 Bids close: 11 months ago
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Published 7 months ago

2023-058 External support drafting investing guidance for CCUS transport and storage companies

Ofgem requires the provision of support in drafting decommissioning fund investment guidance for CCUS Transport and Storage Companies. This includes: Preparation for and attending a workshop where Ofgem provide an overview of the CCUS T&S Economic Regime and the Decommissioning Fund regime. Providing an overview of other relevant funding frameworks and their application. Attending meetings to discuss and develop the investment objectives / purpose. Drafting investment objectives / purpose Attending meetings to discuss and develop additional investment guidance/ expectations. Drafting additional guidance

£50,000 Bids close: 10 months ago
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Published 9 months ago

Business Engagement Consultancy

Award notice for the supply of Business Engagement Consultancy for UKRI- Innovate. ***** THIS IS AN AWARD NOTICE, NOT A CALL FOR COMPETITION ***** This procurement is being concluded following a competitive quote exercise.

£25,000 Bids close: 8 months ago
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Published 9 months ago

Professional Services Framework (Admin, Actuarial, and Consultancy) 2023

The Board of the Pension Protection Fund (the Board) has procured a Framework Agreement consisting of specialist firms to provide administration, actuarial, support and consultancy services. Firms have been appointed to either Lot 1 or Lot 2, or both Lots, distinguished by the type of work required under the Framework Agreement. • Lot 1 – Administration, Actuarial, Support & Pensions Consultancy Services • Lot 2 – Actuarial Consultancy Services Lot 1 is primarily for services to the Board where both administration and actuarial services and/or pensions consultancy may be required at the same time. Lot 2 is aimed at firms with specialist actuarial capabilities who have experience in either the pensions or insurance industries (where long-term risk modelling is also considered). The Framework Agreements have an initial term of two years, with the option of two one-year extensions, commencing 2 December 2023. The National Employment Savings Trust (NEST) may also choose to contract for services via a call-off from this Framework. The final value of the framework across the maximum term (four years) may fall within a wide range as it has been set up to be available for future call-offs for in scope requirements that we may not currently be aware of.

£700,000,000

Government Actuary's Department

Information

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Type

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Company Size

Company Number

Incorporation Date

Website

Address

Suppliers

Contracts awarded to Government Actuary's Department

Financial Risk Modelling Services

Financial Risk Modelling Services

2023-058 External support drafting investing guidance for CCUS transport and storage companies

Business Engagement Consultancy

Professional Services Framework (Admin, Actuarial, and Consultancy) 2023

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