Upon establishing a customized project scope, RVK’s OCIO Evaluation and Monitoring Team seeks to obtain a deep understanding of our client’s governance structure, investment portfolio, reporting, operational, back office, and ad hoc needs.
Provided below is an overview of the six critical components we assess during a search and evaluation project.
Common OCIO Search Project Scope Overview
- Client-determined scope of service
- Education on fiduciary roles and implementation - Optional
- Detailed project plan and timeline
- In-depth review of client's governing documents
- Interviews with fiduciaries - individually or collectively
- Issuance of customized OCIO RFP
- Flexible evaluation report - executive summary and comprehensive - qualitative and quantitative
- Presentation of RVK report to staff and/or Investment Committee to discuss finalist candidates
- Interviews of OCIO finalist candidates with the Investment Committee and RVK, coordinated by RVK
- RVK facilitated discussions with IC to evaluate finalist candidates and determine a selection decision
- Assistance with subsequent discussions between the client and the selected firm to help foster a seamless transition, including, but not limited to, the review of:
- Contract with OCIO provider (non-legal review);
- Client-specific needs;
- Proposed timeline for transition;
- Back-office support;
- Asset allocation; and
- Appropriate benchmarks.