ARLINGTON, Va.--(BUSINESS WIRE)--Accenture (NYSE:ACN) has been awarded a contract by the U.S. Department of Veterans Affairs (VA) to modernize and enhance the existing loan oversight system for its Office of Information & Technology (OI&T). The VA Loan Electronic Reporting Interface Redesign (VALERI-R) task order, managed by the Veterans Benefits Administration (VBA) Loan Guaranty Division, has an estimated value of $16.3 million over a base performance period of 18 months.
The work done under VALERI-R will improve oversight capability over VA’s loan systems, increase security and reduce the costs to service and liquidate VA-guaranteed loans at the VBA. Accenture Federal Services (AFS) will provide solutions that will modernize and replace the OI&T’s current systems with web-interface and integration components to enable automated loading of events and updates from VA mortgage servicers.
“It’s a great honor to be selected to work on the redesign of the VALERI system and help the VBA manage loans for veterans more effectively,” said Shawn Roman, who leads Accenture Federal Services’ work with VA clients. “The redesign will enable the VBA to incorporate new technology capabilities and business intelligence planning into its loan servicing process.”
As part of its work on the VALERI-R solution, AFS will build a cloud-based system using platform-as-a-service and software-as-a-service technologies and leveraging the Salesforce Platform for the case management and workflow components. The solution will also be Mortgage Industry Standards Maintenance Organization (MISMO)-compliant, enabling the VBA to move to standardized reporting and data exchange formats that align to the mortgage industry.
As prime contractor, AFS will partner with subcontractors on the VALERI-R task order. Under the contract, Phoenix Oversight Group – a mortgage technology consulting firm that supported the VBA Loan Guaranty Group during the original VALERI system build – will provide functional design leadership, business analysis, test planning and execution, and training services. Also supporting the contract are Actualize Consulting, a mortgage technology company with many MISMO-certified practitioners that lead the industry in moving organizations to MISMO standards; and Liberty IT Solutions, a mission-centric Service-Disabled Veteran-Owned Small Business that supports multiple government agencies across a diverse portfolio of IT projects.
The VALERI-R task order has four optional tasks that may be exercised at the Government’s discretion during the option exercise period, which has a 54-month period commencing on the date of task order award. The overall period of performance shall not exceed 57 months, with a total value of $29 million.
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About Accenture Federal Services
Accenture Federal Services, a wholly owned subsidiary of Accenture LLP, is a U.S. company with offices in Arlington, Virginia. Accenture’s federal business has served every cabinet-level department and 30 of the largest federal organizations. Accenture Federal Services transforms bold ideas into breakthrough outcomes for clients at defense, intelligence, public safety, civilian and military health organizations. Learn more at www.accenturefederal.com.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 435,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
About Phoenix Oversight Group
Phoenix Oversight Group is a small, woman-owned business focused on software product management and technology solution delivery. Phoenix specializes in serving federal housing agencies and the mortgage lending industry, helping deliver better business solutions through technology implementation excellence and closer solution alignment to customer needs.
About Actualize Consulting
Actualize Consulting is a professional services firm specializing in business process engineering and technology implementations for financial institutions. With offices in New York and Northern Virginia, they keep a finger on the ever-changing pulse of the Capital Markets, Treasury, Mortgage and Fixed Income areas. They serve mortgage firms, banks, insurance companies and other financial institutions, Federal and State Government, as well as specific activities of Fortune 1000 firms.
About Liberty IT Solutions
Liberty IT Solutions, a Service Disabled Veteran Owned Small Business, dependably delivers innovative change to our customers’ most critical services, helping them achieve digital transformation that makes a measurable difference to the citizens they serve.