Portfolio Verification Services

The Washington State Investment Board is seeking a firm to provide portfolio verification and related investment accounting services. The selected firm will be responsible for verifying investment accounting related data of the WSIB's custodian bank and providing shadow accounting services. The scope of work includes monthly portfolio verification and daily cash reconciliation services for internally managed funds, and periodic portfolio verification and cash reconciliation services for externally managed funds. The firm will also be required to provide comprehensive reports, maintain an independent set of accounting records, and investigate and resolve any discrepancies between the contractor's records and the custodian's records. Some key points to consider: • The WSIB manages investments for various stakeholders, including the Department of Retirement Systems and the Department of Labor and Industries. • The WSIB has a diverse portfolio of assets, including public equity, fixed income, private equity, real estate, and tangible assets. • The selected firm will be required to provide services for a 5-year initial term, with options to extend for an additional 15 years. • The firm will be required to have experience working with tax-exempt institutional fund clients and have a minimum of three years of portfolio accounting and reporting experience. • The firm will be required to provide a conversion plan and support the transition of services from the incumbent firm, if necessary.