AWARD OUTCOME
What happened
Financial Services Compensation Scheme Limited has awarded and signed a call-off contract with Baringa Partners LLP for specialist support to its Risk Management Transformation programme.
Published outcomeOne active award and one active contract are recorded for Baringa Partners LLP. The contract is valued at £1.8 million gross.
Market significanceThis is a three-year, above-threshold consultancy call-off under a framework, with a possible single extension of up to 12 months.
AWARDED SUPPLIERS AND LOTS
1 supplier record analysed
BARINGA PARTNERS LLP
99% confidenceAward 1 · Lots 1 · 1800000 GBP · Active award and active contract
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Award 1 names BARINGA PARTNERS LLP as sole supplier. Contract 1, linked to award 1, has a gross value of GBP 1,800,000.
LIFECYCLE
Award or contract stage
Award decision
98% confidenceAwarded to Baringa Partners LLP on 21 September 2026.
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Award 1 is active and lists BARINGA PARTNERS LLP; award_date is 2026-09-21.
Contract status
99% confidenceActive contract; signed on 29 September 2026.
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Contract 1 has status active and dateSigned 2026-09-29.
Contract details notice
99% confidencePublished on 8 October 2026.
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Contract document 094982-2026 has datePublished 2026-10-08.
VALUES
Published values explained
Contract value
99% confidence£1,800,000 gross
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Contract 1 value.amountGross is 1800000 GBP.
Value attribution
98% confidenceThe published contract value applies to the single contract linked to award 1.
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Contract 1 is linked to awardID 1; award 1 has one listed supplier.
TIMELINE
Procurement timeline
Award date
98% confidence21 September 2026
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Award 1 award_date is 2026-09-21.
Contract signed
99% confidence29 September 2026
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Contract 1 dateSigned is 2026-09-29.
Contract start
99% confidence29 September 2026
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Contract 1 period.startDate is 2026-09-29.
Contract end
99% confidence28 September 2029
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Contract 1 period.endDate is 2029-09-28.
Maximum possible end date
99% confidence28 September 2030
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Contract 1 period.maxExtentDate is 2030-09-28.
SCOPE
What was awarded
Requirement
99% confidenceSpecialist resource to support FSCS's Risk Management Transformation programme through iterative call-offs.
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Tender description states that the engagement supplies specialist resource and will be delivered through iterative call-offs.
Key activities
99% confidenceProcess and control assessment; preventative and automated control design; risk ownership and registers; tooling and automation recommendations; data-driven risk capability; and a Compliance Traceability Matrix.
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These activities are expressly listed in the tender description.
Service classification
99% confidenceBusiness and management consultancy and related services (CPV 79400000).
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Award item additional classification is CPV 79400000.
Delivery location
98% confidenceUKI, United Kingdom.
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Award item delivery address specifies region UKI and country GB.
PROCEDURE
Procedure and competition
Procurement method
99% confidenceSelective procedure, awarded under a framework.
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Tender procurementMethod is selective and procurementMethodDetails is Award under framework.
Competition
95% confidenceThe source marks the procurement as competitive.
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Tender competitive is true.
Framework reference
95% confidenceRelated framework process: ocds-h6vhtk-0523e0; related framework lots are stated as Lot C and Lot P.
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Related process with relationship framework identifies ocds-h6vhtk-0523e0 and relatedLots Lot C and Lot P.
CONTRACT TERMS
Published contract terms
Initial term
99% confidence29 September 2026 to 28 September 2029.
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Contract period startDate and endDate are 2026-09-29 and 2029-09-28.
Extension option
99% confidenceFSCS may extend once by up to 12 months.
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Contract renewal description states this right; hasRenewal is true.
Maximum term
99% confidenceUp to 28 September 2030 if the extension is exercised.
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Contract maxExtentDate is 2030-09-28.
Performance measures
96% confidenceKPIs are stated to have been set for the call-off contract, but were not published.
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Contract noAgreedMetricsRationale says KPIs have been set but publication is not required because the call-off value is below £5 million including VAT.
COMMERCIAL VIEW
Commercial observations
Commercial structure
96% confidenceThe engagement is structured as iterative call-offs supporting a defined future-state operating model.
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Tender description states the engagement will be delivered through iterative call-offs, each contributing to a defined future-state operating model.
Control-transformation focus
99% confidenceThe requirement prioritises preventative and automated controls and reduced reliance on manual and detective controls.
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These objectives are explicitly stated in the tender description.
DATA QUALITY
Gaps and source limitations
Notice sequence
98% confidenceThe supplied release history contains an award/contract notice dated 21 September 2026 and a later contract details notice dated 8 October 2026.
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Release history lists releases 089376-2026 and 094982-2026 with those dates.
Lot detail
99% confidenceLot 1 is identified, but no lot title, lot description or separate lot value is published.
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Lot record for 1 has null title, description and value.
Competition detail
97% confidenceThe procurement is marked competitive, but bidder numbers and evaluation results are not supplied in the published notice.
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Tender competitive is true; no bid count or evaluation information is provided.
Pricing detail
98% confidenceNo pricing schedule or breakdown beyond the gross contract value is supplied.
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Contract value provides amountGross only.
SOURCE DATA LIMITATIONS
Information not supplied in the published notice
- Information not supplied in the published notice: lot title, lot description and individual lot value.
- Information not supplied in the published notice: number of bids, bidder identities beyond the winner, evaluation scores and award rationale.
- Information not supplied in the published notice: detailed pricing or rate card.
- Information not supplied in the published notice: published KPI measures, despite the notice stating that KPIs have been set.
MARKET THEMES
Relevant award themes
FSCSBaringa Partners LLPrisk management transformationconsultancy contractframework call-offpublic procurement
COMMON QUESTIONS
About this award
Who won the FSCS Risk Management Transformation Support contract?
Baringa Partners LLP is the sole supplier named on active award 1.
What is the value of the contract?
The contract has a published gross value of £1,800,000.
When does the contract end?
The initial term ends on 28 September 2029. FSCS may extend it once by up to 12 months, to a maximum stated end date of 28 September 2030.
Was the contract signed?
Yes. The contract record explicitly gives a signing date of 29 September 2026.
ProcuraAxis award analysis supplements, but does not replace, the official award notice, contract data or procurement documents. “Awarded” does not by itself prove that a contract has been signed.