The Hidden Cost of a DIY OCIO Search

An OCIO search consumes a meaningful amount of time and organizational resources. Organizations working with a search consultant should generally plan for a four- to five-month process. If you are running the process yourself, we encourage committees to budget six to nine months, if not longer. The exact timeline depends on the number of candidates, the organization's complexity, and the number of stakeholders involved. But perhaps more important than the calendar is understanding where the time goes as well as how to make the most of it.

The meeting time itself is usually manageable.

The less obvious work happens between meetings.

Somebody needs to manage the process. Somebody needs to gather and analyze information. Somebody needs to decide which candidates to bring forward. Somebody needs to keep the search moving.

Whether you use a search consultant or conduct the search internally, the work still exists. An organization has to solve for whose job it is to manage.

Why the Difference?

The best OCIO search firms bring expertise and a deep understanding of the OCIO search market (read more here). But search consultants also bring a defined process with clear milestones, templates and best practices, and familiarity with gathering and analyzing information from OCIOs.

Leita prepares OCIO candidates before each interaction so committee time is well spent, and we establish clear objectives for each meeting. We know what information committees need and when they need it.

Perhaps most importantly, we don’t reinvent the wheel.

Common DIY Mistakes

Organizations can and do run successful searches internally. But we frequently see a few mistakes that can derail the process.

Mistake #1: reviewing too many candidates. More candidates create more work but don’t necessarily improve outcomes.

Mistake #2: setting unrealistic timelines. Searches take time, and delays are common. Give yourselves more than three months from start to finish.

Mistake #3, the most damaging: losing momentum. Searches that drag on can become difficult to complete as schedules change and priorities shift. In some cases, a stalled process can even lead to starting over, which is frustrating and costly.

Where Should We Start?

Remember, an OCIO search is a months-long project, not a single meeting.

Before beginning, it can be helpful to ask:

• How much committee time can we realistically commit?

• Who will manage the process? CFO, Committee chair, a special subcommittee, a search consultant?

• How many firms should we evaluate?

• When do we need a decision?

• When do we want a new OCIO to start? (Remember that after a decision, transitions take a few months by themselves).

Setting realistic expectations at the beginning can help organizations maintain momentum and ultimately make better decisions.

In summary, while an OCIO search is a significant undertaking, thoughtful planning and a realistic perspective can make the process far more manageable. Whether you engage an search consultant like Leita or go the DIY route, success depends on setting clear expectations, maintaining momentum, and dedicating the right resources from the start. Don’t underestimate the value of communication and check-ins throughout the process. With preparation and discipline, your organization will be well-positioned to select the OCIO partner that best aligns with your goals.