Service Organization Control I Type II Report (SOC I)

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Title:  

Service Organization Control I Type II Report (SOC I)

Agency:  

Rhode Island Student Loan Authority

State:  

Rhode Island

NAICS Code:  

541910

Industry:  

Financial Services

Solicitation Type:  

Request for Proposal

Solicitation ID:  

SOCI9.25

Open Date:  

9/23/2025

Questions Due Date:  

10/7/2025

Close Date:  

10/24/2025

Project Duration:  

3 years

Last Updated:  

Description:
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.
Attached Files:

Please visit the bid source via the “Link to Bid Source” button below for documentation.

Contact Information:

Kevan McAleer(CFO)

rfp@risla.com

(401) 468-1700

Budget Estimate (AI):

$200,000 – $500,000

The budget for this opportunity is likely to be in the range of $200,000 to $500,000, considering the scope of the project, the required experience, and the fact that it is a three-year contract. The estimated total number of hours for each category of assigned personnel, travel, and non-personnel costs will also impact the final budget.

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