BC Financial Services Authority (the BCFSA) is a provincial crown agency that regulates the British Columbia financial services industries, including credit unions, trust and insurance companies, pension plans, real estate services, and the Credit Union Deposit Insurance Corporation. BCFSA’s mandate is to protect the public against the insolvency of financial institutions; prevent improper market conduct in the financial services sectors; provide deposit insurance for members of B.C. credit unions; and ensure the solvency of pension funds.
The purpose of this Request for Proposals (RFP) is to solicit proposals solely from qualified Proponents for the provision of a Human Capital Management System (HCM) that includes human resources and payroll software, related implementation, and support services.
BCFSA is seeking to replace its existing human resources and payroll system, which is an instance within the BC Government PeopleSoft system, with a modern cloud-based solution. The Human Capital Management System (HCM) will support a growing organization of approximately 400 people, including 90 staff with supervisory approval and 15 members within the current HR and Payroll teams. The functionality of the Human Capital Management System (HCM) should support the following high-level requirements:
- Canadian Payroll: payment/deductions, department and costing reporting, time and leave administration, Year end, T4 and ROE (Record of Employment) production, non-taxable payroll (i.e., expense reimbursement and GL to finance)
- Benefits Administration: enrolment administration, reporting for audit and benefits carriers
- Time & Leave Management: requesting, entering, processing and administration
- HR Administration: personal details, employment details, job, and salary history
- Employee Self Service: leave and absence request, payroll information and integration to other HCM modules; and a modern UI/UX with optimized mobile device platform
- Workflow Management: onboarding/offboarding, custom workflows and integration to other HCM modules
- Position Management (or equivalent): creation of position, assignment of salary bands and job attributes, and organization charts
- Applicant Tracking System (ATS): vacancy creation, applicant tracking, candidate communications, integration with 3rd party job boards, testing package and scheduling, collection of consent, offer extension and conducting background checks
- Compensation Management: application of general or individual wage increases, salary modeling and forecasting, integration of market data
- Performance and Succession Management: Development of goals, training/development plans, review, and dialogue for annual and semi-annual review periods
- Learning Management: training course enrolment and administration, integration with third party training catalogues, registrar functions, skills inventory, professional development tracking, training records administration and reporting
- Information Management: reporting, KPI dashboards, business intelligence and document management
This RFP is open to all Contractors who store data outside of Canada. The evaluation will include a risk assessment, jurisdiction review in addition to the assessment of security and privacy procedures.
BCFSA is requiring that the primary and majority of functionality is provided from a single software solution, however consideration will be given to Proponents that rely on third party solutions that already integrate with their solution as part of the overall Human Capital Management System (HCM).
