1. The United Nations Joint Staff Pension Fund (“UNJSPF”) was established by the General Assembly of the United Nations ("UN") to provide retirement, death, disability and related benefits for the staff of the UN and other international intergovernmental organizations admitted to membership. 2. The UNJSPF is an internally managed fund, with approximately US $95 billion under management. At the same date, the UNJSPF’s assets were invested in approximately 26 currencies and in 45 countries (including emerging markets), in regional institutions and international institutions, and in institutional investment trusts. Please consult the UNJSPF’s website at https://oim.unjspf.org/ for a breakdown of the UNJSPF’s assets per type of investment. 3. The UNJSPF is one of the most globally diversified funds in the world. Although most of the exposure is in major developed markets, the UNJSPF is committed to finding sound investment opportunities in emerging markets. 4. The Convention on the Privileges and Immunities of the UN ("Convention") exempts the UN, its assets, income and other property from all direct taxes. The Convention also grants the UN and its property wherever located or by whomsoever held, immunity from every form of legal process, except insofar as in any particular case it has expressly waived its immunity. As an organ of the UN, the UNJSPF's assets are exempt from direct taxation and from legal process. 5. The UNJSPF is prohibited from investing in companies that derive any revenue from the production of tobacco and that primarily deal with manufacturing and distribution of tobacco and tobacco related products. The UNJSPF shall also not invest in securities of companies that derive any revenue from the production of military weapons, weapons systems or weapons of mass destruction, including nuclear, chemical or biological weapons, or derive more than 10 per cent of their revenue from the production of customized components for purposes of the production of military weapons. Scope of Services 6. The UNJSPF is seeking Advisory Services for Risk Management on a non-discretionary basis. 7. The Risk Advisory Services provider will provide consultant assistance for overall Office of the Investment Management, and the Pension Administration Risk teams. Services required will be the following: i. Conduct an initial assessment of the fund's current risk management practices. ii. Assess the current ERM framework and provide suggestions for its improvement. iii. Assess roles and responsibilities for risk management within the organization. iv. Asses the maturity of the Risk Culture within the organization, and suggests ways to enhance it. v. Assess current Risk Catalogue and provide feedback regarding its suitability and compare it to other large global pension funds. vi. Assess current Risk Appetite Statement and provide feedback regarding its suitability and compare it to other large global pension funds. vii. Assess current Risk Register and provide suggestions for improvement based on global best practices. viii. Provide assistance preparing or enhancing risk management frameworks, policies and procedures aligned with global best practices, including but not limited to: - Enterprise Risk Management Framework - Operational Risk Management Framework - Cyber Risk Management Framework - Third Party Risk Management Framework - Sustainability Risk Management Framework ix. Assess current Key Risk Indicators and provide feedback regarding its suitability. Develop new key risk indicators (KRIs) for major risks and other monitoring tools. x. Develop a Strategy to implement a Top and Emerging Risk tool in the organization. xi. Develop a strategy to reinforce Risk and Control Self Assessment for Operational Risk Management. xii. Assess the current use, capability, reach and features of the Governance, Risk and Compliance (GRC) system. Suggest enhancements to the way it is used. Given the needs of the organization, provide options for future upgrades to the system. xiii. Develop risk response strategies, including mitigation, transfer, and acceptance of risks. xiv. Assist in integrating the ERM framework into the fund’s existing governance structure. xv. Conduct training sessions for staff and board members on ERM concepts and tools. xvi. Create materials and resources to sustain ERM practices post-implementation. xvii. Develop templates and processes for ongoing risk reporting to the board and other stakeholders. xviii. Establish mechanisms for periodic reviews and updates to the ERM framework.