Tender Overview
Canara Bank, Department Of Financial Services, invites bids for a Cert-In certified auditor to conduct vendor risk assessments, due diligence audits, and vendor performance evaluations for current and new vendors as on 31/03/2025 in Bangalore, Karnataka. The procurement focuses on governance and risk management services rather than a tangible product. The opportunity involves ongoing assessments with annual review potential and a flexible scope to cover evolving vendor relationships. The contract values and timelines are linked to procurement approvals, with emphasis on compliance and independence of the audit function. The unique aspect is the specialized skill set required (Cert-In certification) and the ongoing vendor oversight support across the bank’s ecosystem.
Technical Specifications & Requirements
- Scope: Selection of a Cert-In certified auditor to conduct vendor risk assessments, due diligence audits, and vendor performance evaluations for existing and 신규 vendors as on 31/03/2025, with ongoing coverage.
- Qualifications context: Requires expertise in information security governance, risk management, and vendor management practices.
- Deliverables: Risk assessment reports, due diligence findings, vendor performance metrics, and management recommendations aligned to Canara Bank risk appetite.
- Reporting: Periodic summaries and executive dashboards for the Department of Financial Services.
- Compliance cues: Auditor must demonstrate independence and ability to work within banking regulatory expectations; no explicit product specs, but high standards of audit quality implied.
- Evolving scope: Services to extend to new vendors on an ongoing basis perBank approvals; no fixed quantity listed.
Terms, Conditions & Eligibility
- EMD: ₹7,00,000; options include online RTGS or Demand Draft payable to DIT Procurement, Bangalore.
- Delivery terms: Fee timelines and reporting cadence subject to contract issuance; modifications permitted up to 25% of contract quantity/duration.
- Payment terms: Online transfer details provided; bidder must upload proof of payment with bid; hardcopy EMD submission within 5 days of bid end/open date.
- Integrity pact: Required to sign and upload scanned copy; bid submission contingent on integrity compliance.
- Financial health: Bidders must declare no liquidation or court receivership; provide undertaking.
- Documentation: Upload mandatory certificates and documents; non-submission risks rejection.
- No BOQ items; tender focuses on service capability rather than tangible goods.
