Banking Safekeeping Depository Account Services

The State of Missouri, on behalf of the Department of Commerce and Insurance, is seeking a qualified banking institution to provide comprehensive safekeeping depository account services for statutory insurance deposits. The contractor must maintain a Missouri‑based institution, be a participant in the Depository Trust Company, and operate a secure online communication system for real‑time inquiry, pricing, and reporting of securities held in joint custody accounts. The contract is for one year, with a requirement to meet extensive experience thresholds, provide senior leadership, investment advisors, and support staff, and to comply with numerous state statutes and reporting obligations. • Provide banking safekeeping depository accounts for multiple insurance entities under joint‑custody agreements. • Maintain a secure, private online portal for the state agency to view account activity, pricing, and generate weekly/monthly exception and status reports. • Must be a Missouri‑based bank (or branch) with a dedicated Fed Reserve connection and DTC participation. • Minimum five years experience in banking, safekeeping, online communications, order inquiries, and reporting. • Provide senior personnel (VP, Account Manager) and qualified investment advisors with FINRA licenses. • Submit extensive compliance exhibits (tax, registration, anti‑boycott, etc.) via MissouriBUYS. • Proposal deadline: August 28, 2026 2:00 PM CT; contract term: one year.