Service Organization Control I Type II Report (SOC I)

The Rhode Island Student Loan Authority (RISLA) is seeking a qualified firm to provide a Service Organization Control I Type II Report (SOC I) for its student loan processing and servicing operations. The report should cover three consecutive periods, from January 1, 2025, to December 31, 2027. The selected firm will be required to provide a readiness approach, timing of the engagement, and the number of hours and employees dedicated to the engagement. The firm should have experience in SOC 1 Type II reporting, particularly for lenders that originate and service loan products. • The report should include control objectives and related controls of RISLA, excluding any control objectives and related controls of the contracted vendor. • The firm should provide an executive summary, staffing and experience, and a listing of similar engagements completed within the last two years. • The proposal should include a fixed price for the engagement, hourly rates, and an estimated total number of hours for each category of assigned personnel. • Travel and non-personnel costs should be included in the price and listed separately.