Due Diligence Checklist
OCIO Due Diligence Checklist for Provider Evaluation
A structured set of review areas for OCIO searches, finalist evaluations, renewals, and ongoing monitoring.
Key Takeaways
- Review firm profile, services, AUM, client types, strategy, fees, and reporting capabilities.
- Compare performance, allocation, risk, and attribution against relevant peers.
- Document committee questions, provider responses, and follow-up actions.
Provider profile and service model
Begin with the provider's organizational structure, service model, investment decision process, staffing, governance support, reporting cadence, and client base. These details shape whether the provider is suited to the institution's needs before performance is reviewed.
- Firm ownership, leadership, and investment team structure.
- OCIO services, discretionary authority, and client types served.
- Reporting approach, committee support, and implementation model.
Performance, allocation, fees, and risk
Quantitative diligence should compare outcomes and decisions. Review performance, allocations, fee schedules, risk metrics, exposures, and attribution against relevant peers so the review reflects both results and implementation.
Ongoing monitoring requirements
OCIO diligence does not end with selection. Committees should define how the relationship will be monitored, which data will be reviewed, which thresholds require follow-up, and how oversight will be documented over time.
Common Questions
What should be included in OCIO due diligence?
OCIO due diligence should include firm profile data, services, investment process, performance, allocation, fees, risk, reporting, governance support, and ongoing monitoring requirements.
How can committees make OCIO due diligence more objective?
Committees can improve objectivity by using standardized provider data, peer benchmarks, defined criteria, and documented follow-up questions.
Can OCIO due diligence be repeated after selection?
Yes. The same framework can support annual reviews, fee reviews, provider monitoring, and fiduciary oversight documentation.
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