Our ODD Advisory Partner solution provides institutional investors with flexible senior support within their existing ODD process.
We work within each client’s methodology, rating framework, reporting structure and governance timetable. The client retains ownership of manager relationships, conclusions and investment recommendations, while ORC supports selected parts of the process where additional expertise or capacity is required.
The scope can be tailored to individual mandates or provided on an ongoing basis. Support may include participation in manager meetings, review of reports and conclusions, blind spot assessments, remediation planning, advice on specialist topics and cover during periods of increased workload or team absence.
Many institutional investors want to retain direct ownership of their ODD framework, manager relationships, reporting and investment recommendations. ORC’s ODD Advisory solution enables them to do so while adding an experienced and independent senior perspective.
ORC works within the client’s existing process and governance requirements, testing whether conclusions are proportionate, risk ratings are supported and material issues have been escalated appropriately. The client remains responsible for the final assessment and decision, while benefiting from additional challenge before that decision is made.
New asset classes, unfamiliar structures and more complex investments can create requirements that sit outside a team’s usual experience. In these situations, additional senior judgement may be needed without creating a permanent resourcing requirement.
ODD Advisory gives clients access to specialist support for a particular manager, strategy or mandate. ORC can help identify the most relevant risks, test the scope of diligence and challenge whether the evidence supports the proposed conclusion, while the internal team retains control of the process.
ODD workloads are rarely consistent. New manager activity, compressed committee timelines, portfolio reviews and internal resourcing constraints can create periods when additional support is required quickly.
The solution provides flexible capacity without requiring permanent headcount or full outsourcing. It can also reduce reliance on knowledge held by one individual by keeping an ORC Partner familiar with the client’s methodology, portfolio and governance expectations, ready to provide informed continuity when needed.
Strong analysis still needs to translate into clear, well-supported conclusions. ORC can review whether findings are evidenced, ratings are proportionate and recommendations distinguish clearly between matters requiring monitoring, remediation, further diligence or escalation.
This helps clients present material issues more clearly, support focused committee discussion and ensure that final recommendations are practical, proportionate and decision-ready.
ORC’s ODD Advisory Partner work is led by experienced practitioners who have completed more than 1,000 ODD reviews across asset classes, strategies and geographies.
This experience enables us to provide practical judgement rather than apply a standard review model. We understand how operational risks emerge in practice, how findings should be evidenced and when an issue is best addressed through monitoring, remediation, further diligence or escalation.
There is no single model for an effective internal ODD function. Teams differ in size, mandate, asset class coverage, governance structure and internal capability.
ORC adapts to the client’s established framework rather than asking the client to adopt ours. We align with existing methodologies, rating approaches, reporting standards and committee processes, allowing our input to be incorporated efficiently without disrupting responsibilities or manager relationships.
ODD increasingly requires detailed assessment of topics that may sit outside the regular focus of a lean internal team. These can include cyber risk, operational resilience, outsourcing, AI governance, service provider oversight and complex operating models.
ORC provides access to senior insight across these areas, helping clients focus their enquiries, interpret manager responses and assess whether controls are appropriate for the investment, strategy and operating environment.
ORC provides independent challenge while respecting the client’s ownership, accountability and decision-making process.
Our role is to become familiar with the client’s portfolio, methodology and governance expectations so that our support is informed, consistent and immediately useful. This allows us to contribute effectively on complex mandates, provide continuity when internal resource is unavailable and strengthen the analysis supporting the final decision.
ORC can attend manager meetings alongside the internal team, either supporting the client’s questioning or leading selected areas of the discussion.
Before the meeting, we review relevant materials, identify issues requiring clarification and help shape targeted questions. During the meeting, we test the strength of the control environment, challenge inconsistencies and ensure that material operational risks are explored in sufficient depth.
Where the client has substantially completed its own assessment, ORC can undertake a focused review to identify gaps, inconsistencies or risk areas that may not have been addressed fully.
This can cover the overall assessment or a particular area, including cyber security, operational resilience, outsourcing, AI governance, service provider oversight or complex operating models. The objective is to add targeted senior expertise without repeating work already completed by the internal team.
ORC can review draft ODD reports before they are submitted to an investment committee or other governance body.
We assess whether findings are supported by the available evidence, whether ratings and conclusions are proportionate and whether the report explains the practical significance of each issue clearly. We can also challenge proposed remediation and help distinguish between lower-level observations and matters requiring further action or escalation.
Identifying a risk is only part of the process. Internal teams must also determine the appropriate response, the action expected from the manager and how progress should be monitored.
ORC can provide independent input on remediation plans, manager responses and escalation decisions. We help clients distinguish between risks that can be accepted or monitored and those requiring further diligence, formal action or governance escalation.
Lean ODD teams can face periods when review volumes, complex mandates or compressed timelines exceed available internal capacity. ORC can provide additional support during manager selection exercises, annual review cycles, portfolio expansion or periods of team absence.
Our role can be tailored to the specific need, from document review and meeting preparation through to report challenge and committee readiness. This allows the client to maintain momentum and continuity without transferring ownership of the wider ODD process.
ODD Advisory can be provided through an ongoing retainer, an advisory time bank or support for a specific exercise.
Clients may begin with a pilot arrangement before moving to a longer-term relationship. The level and type of support can then be adjusted as the client’s workload, portfolio, internal capabilities and governance requirements evolve.
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