4.1.1 Software must be web-based. 4.1.2 Software must allow for a secured, automated, daily, investment transaction download from custodian (currently Bank of New York Mellon) to Proposer. 4.1.3 Software must conduct daily validation of portfolio against benchmarks. Benchmarks must be defined by OCI and Proposer. 4.1.4 Software must be current on all National Association of Insurance Commissioners (NAIC) requirements (compliance within thirty (30) days). 4.1.5 Software must be able to generate Statutory Accounting Principles (SAP) entries. 4.1.6 Software must be able to generate Generally Accepted Accounting Principles (GAAP) statement entries. 4.1.7 Software must allow for ad hoc reports which can be generated in both Excel and PDF by OCI through the web-based site. Reports may include, but not be limited to, Investment Schedules of the Statutory Statement, GAAP Account Reporting investment forecasts, and interest income projections. 4.1.8 Contractor must provide up to three (3) software user licenses. 4.1.9 Contractor must provide training for up to three (3) users. 4.1.10 Contractor must meet the current Statements on Standards for Attestation Engagements 18, SOC 2 certification. 4.1.11 Contractor must have a continuation of operation plan.
