Wisconsin Investment Board seeks firm to review investment operations group

State of Wisconsin Investment Board, Madison, is searching for a firm to conduct an investment operations study and best practices review, said Vicki Hearing, spokeswoman, in an email.

SWIB, which oversees a total of $104.6 billion including the Wisconsin Retirement System's $96.4 billion in assets, issued an RFP because the board's investment operations group is in “a pivotal transformation state, largely due to a major technological and outsourcing implementation and key staff and leadership position vacancies,” the RFP said.

SWIB seeks a firm to “perform a gap analysis of current investment operations group capabilities, processes, procedures, organizational structure, resources and skills compared to what is needed to support SWIB's vision” and “identify priority gaps and recommendations to close them,” according to the RFP. The study is expected to take about three months.

Ms. Hearing said this is the first time SWIB has sought this kind of study.

Proposals are due at 5 p.m. CST on March 6. Finalist interviews are scheduled for the week of March 27, with a decision expected shortly thereafter.

The RFP is available on the board's website.