The Workers Compensation Board of Manitoba (WCB) invites firms to submit a Proposal for the following: Investment reporting and consulting services for the WCB's Investment Portfolio and WCB of Manitoba Retirement Plan.
Description of Services
The WCB requires the Contractor who is a qualified investment consultant to perform the following:
a)Performance Monitoring and Reporting- Within sixty (60) calendar days of quarter end, prepare quarterly investment reports (March, June, September, December) that provide:
(i)Total fund, asset class, and manager-level performance;
(ii)Performance attribution, benchmark comparisons, and peer universe comparisons where appropriate;
(iii)Updates on markets and market indices;
(iv)Manager updates; and
(v)Compliance reports that identify violations of the Fund and Plan SIP&O.
b) Ad Hoc Services- which may include, but not be limited to, the following:
(i)Provide guidance and advice on the Fund and Plan SIP&O including recommendations for revisions;
(ii)Asset mix and asset-liability studies to be performed once every five (5) years or more frequently, as required;
(iii)Participation in the selection, hiring, and termination of external investment managers;
(iv)Research, reporting, and strategic advice on specific investment topics, as requested by the WCB; and
(v)Attendance (virtually or in-person) at IC meetings, as required by the WCB.
c)Reporting on Material Developments of the Fund and Plan relating to the legal/legislative environment, investment managers, asset classes, and specific securities.
The Contractor will be expected to prepare the first quarterly performance report of the Fund and Plan following the first quarter of 2026.
The Services shall normally be performed during Business Hours. However, the WCB may request some of the Services to be performed outside Business Hours from time to time, as deemed necessary, in the unfettered discretion of the WCB. The Contractor shall not be entitled to charge overtime rates unless specified in the Fee Schedule.
The Vendor must have experience and knowledge with the following:
a)Investment consulting;
b) Investment reporting;
c) Asset mix studies; and
d) Current applicable legislation and legal environment.
The Vendor should have experience and knowledge with the following (which may be considered an asset when evaluating):
a) Familiarity with the internal operations, structure, and governance of the WCB; and
b) Experience advising on or working with asset funds managed by other Canadian worker compensation boards.
The Proposal should include an overview of the proposed resource(s) being offered, including profiles of work which highlight their experience performing similar projects.
The Contractor will not be required to have and maintain workers compensation coverage for its workers who will be providing the Services, unless required pursuant to The Workers Compensation Act
The Services shall normally be provided virtually from the Contractor's facilities located in Canada, with onsite visits to the WCB's facilities as requested by the WCB, unless otherwise agreed in writing.
It is expected the Services will be required for an initial period of five (5) years with a preferred start date of January 2, 2026.
The Services will be structured with an Agreement that will require the parties to enter into subsequent Statements of Work (collectively the "SOWs") for the Ad Hoc Services, if requested.
The scope of work for the Ad Hoc Services cannot be determined by the parties at the time the Agreement is executed because it is anticipated the WCB's needs and priorities will evolve as other components of the Services are completed and further information is collected. The parties shall mutually agree upon the distinct scopes of work for the Ad Hoc Services, including the total fees, deliverables, and completion dates for same, in writing, via the SOWs, prior to commencing work on such new components.
