CFPB awards $4.57M for Reg Tech Tier 1 and Operational Support Services to Censeo Consulting Group

Contract Overview

Contract Amount: $4,574,146 ($4.6M)

Contractor: Censeo Consulting Group, Inc.

Awarding Agency: Consumer Financial Protection Bureau

Start Date: 2022-09-09

End Date: 2026-10-13

Contract Duration: 1,495 days

Daily Burn Rate: $3.1K/day

Competition Type: FULL AND OPEN COMPETITION

Pricing Type: LABOR HOURS

Sector: Other

Official Description: REG TECH TIER 1 AND OPERATIONAL SUPPORT SERVICES

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20006

State: District of Columbia Government Spending

Plain-Language Summary

Consumer Financial Protection Bureau obligated $4.6 million to CENSEO CONSULTING GROUP, INC. for work described as: REG TECH TIER 1 AND OPERATIONAL SUPPORT SERVICES Key points: 1. The contract is for administrative management and general management consulting services. 2. Awarded via BPA Call under full and open competition. 3. Potential for significant taxpayer impact due to the nature of consulting services. 4. The sector is primarily professional services, with potential IT implications.

Value Assessment

Rating: fair

The contract value of $4.57M over approximately 4 years seems reasonable for specialized consulting services. Benchmarking against similar government-wide acquisition contracts (GWACs) or agency-specific consulting procurements would provide a clearer picture of value.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition via a BPA Call, suggesting a competitive bidding process. This method generally promotes price discovery and ensures fair market pricing.

Taxpayer Impact: The $4.57M expenditure represents taxpayer funds allocated for essential operational support and regulatory technology services within the CFPB.

Public Impact

Ensures continued operational support for the Consumer Financial Protection Bureau. Supports the agency's mission in regulating financial products and services. Potential for improved efficiency and effectiveness in regulatory technology implementation.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of specific performance metrics in provided data.
Potential for scope creep in consulting services.
Dependence on a single contractor for critical support.

Positive Signals

Awarded through full and open competition.
Supports a key federal agency's mission.
Utilizes an existing BPA Call for efficient procurement.

Sector Analysis

This contract falls within the professional services sector, specifically administrative and management consulting. Benchmarks for this sector often vary widely based on specialization, but government consulting rates are generally competitive.

Small Business Impact

The data indicates the awardee is CENSEO CONSULTING GROUP, INC., and the 'sb' field is false, suggesting this is not a small business set-aside contract. There is no indication of subcontracting opportunities for small businesses in the provided data.

Oversight & Accountability

The contract is managed by the Consumer Financial Protection Bureau (CFPB). Oversight would typically involve contract officers, program managers, and potentially agency inspectors general to ensure performance and proper use of funds.

Related Government Programs

Administrative Management and General Management Consulting Services
Consumer Financial Protection Bureau Contracting
Consumer Financial Protection Bureau Programs

Risk Flags

Contract awarded via BPA Call, potentially limiting direct comparison to other contract types.
No indication of small business participation.
Duration of contract (nearly 4 years) requires ongoing monitoring.
Nature of consulting services can be subjective to measure effectiveness.

Frequently Asked Questions

What is this federal contract paying for?

Consumer Financial Protection Bureau awarded $4.6 million to CENSEO CONSULTING GROUP, INC.. REG TECH TIER 1 AND OPERATIONAL SUPPORT SERVICES

Who is the contractor on this award?

The obligated recipient is CENSEO CONSULTING GROUP, INC..

Which agency awarded this contract?

Awarding agency: Consumer Financial Protection Bureau (Consumer Financial Protection Bureau).

What is the total obligated amount?

The obligated amount is $4.6 million.

What is the period of performance?

Start: 2022-09-09. End: 2026-10-13.

What specific deliverables are expected under this operational support contract, and how will their successful completion be measured to ensure value for money?

The provided data lacks specific deliverable details. A thorough review of the contract's Statement of Work (SOW) is necessary to identify expected outcomes, such as reports, analyses, system implementations, or process improvements. Performance metrics, Key Performance Indicators (KPIs), and acceptance criteria should be clearly defined to objectively measure the contractor's success and ensure the $4.57M investment yields tangible benefits for the CFPB's regulatory technology and operational functions.

What are the potential risks associated with relying on a single contractor for 'Tier 1 and Operational Support Services', particularly concerning knowledge transfer and continuity?

Relying on a single contractor poses risks such as vendor lock-in, potential price increases upon re-competition, and a lack of diverse perspectives. Knowledge transfer can be a challenge if the contractor's personnel turnover is high or if proprietary knowledge is not adequately documented. Ensuring continuity requires robust contract management, clear service level agreements (SLAs), and potentially contingency planning for service disruptions or transitions to new vendors.

How does this contract contribute to the CFPB's overall effectiveness in its mission to protect consumers in the financial marketplace?

This contract supports the CFPB's mission by providing essential administrative and management consulting services crucial for the effective operation of its regulatory technology (Reg Tech) initiatives. By ensuring robust operational support, the agency can better implement and manage the technologies needed to oversee financial institutions, enforce consumer protection laws, and respond to market developments, ultimately enhancing its ability to safeguard consumers.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Administrative Management and General Management Consulting Services

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Pricing Type: LABOR HOURS (Z)

Contractor Details

Address: 1776 I ST NW STE 1030, WASHINGTON, DC, 20006

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, Indian (Subcontinent) American Owned Business, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $8,635,743

Exercised Options: $5,455,047

Current Obligation: $4,574,146

Actual Outlays: $4,297,825

Subaward Activity

Number of Subawards: 1

Total Subaward Amount: $1,940,300

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Parent Contract

Parent Award PIID: 9531CB22A0004

IDV Type: BPA

Timeline