New Mexico Services Portal #60-44000-26-26004

Custodial Services for Insurers and Service Contract Providers – New Mexico OSI

This opportunity from the New Mexico Office of Superintendent of Insurance seeks a qualified custodian to manage securities and custodial accounts for insurers and service contract providers. - Government Buyer: - Office of Superintendent of Insurance, New Mexico Insurance Division - Scope of Services: - Act as designated depository for insurers and service contract providers - Manage securities and other properties in custodial accounts - Execute purchases, sales, and deliveries of securities as directed - Collect interest and income, maintain account information, and provide monthly and annual reports - Ensure compliance with New Mexico Insurance Code and regulations - Maintain customer service staff with specialized investment experience - Handle notifications for deficiencies, maturities, ratings, and called securities - Process daily online email deliveries and custodial fee billing - Unique Requirements: - Timely reporting and notifications to OSI and stakeholders - Qualified staff with experience in investment and custodial services - Strict adherence to statutory and regulatory provisions - No specific OEMs or vendors are named in the solicitation.

Description

The State of New Mexico is soliciting proposals for custodian services designated as depository for insurers and service contract providers. The custodian will manage securities and other properties in custodial accounts, including making purchases, sales, and deliveries of securities as directed. The scope includes collecting interest and income, maintaining account information, providing reports, and ensuring compliance with New Mexico Insurance Code and regulations. The custodian must also provide customer service and maintain necessary documentation and notifications related to securities.

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