Having worked at the Bairns already under John Hughes, the Falkirk-native talent spotter has already been operating in the background with the management team working on player recruitment.
Fraser is known for working with a number of English Championship clubs, mainly alongside Rangers’ Ross Wilson.
Speaking to the Herald, Rennie also confirmed that attacking pair Jaze Kabia and Callumn Morrison could be back for this weekend’s trip to Broadwood.
He said: “First and foremost I have Falkirk at heart and regardless I want to help the club shape the best plan possible for the future.
“I also know that right now my focus is on our next match and what we need to do to win that.
“But you also have to have a view as to what the club needs and what the structure needs.
“The club hasn’t had a scout like that involved for a long time and I think it will be a positive move, his knowledge and ability to find talent is clear.
“Recruitment is a crucial part of any club and he has already unearthed some really good players that we’ve communication with and things like that.
“There is so much work to do be done to move the club into a direction that will take the club back to where I and the supporters want to see it.
“Time is key word that people don’t want to hear, but change doesn’t happen overnight.”
Giving an update on injuries, he confirmed attacking duo Jaze Kabia and Callumn Morrison could be back for the match against Clyde.
The news will be welcomed by the fans, with the clear lack of pace up top having been apparent in recent matches.
“Both are back involved in training and they could be involved this weekend, but it is more likely that they will be ready in a few days time,” he said.
“At the moment it is looking positive as long as there are no set backs.”
Last weekend, Falkirk picked up three points against bottom club East Fife but played poorly and Rennie wasn’t worried about the aftermath.
He said: “When you play three games in a week you can see it in the legs and they where at the other end of that fitness scale.
“They had the full week to prepare and I think you could see that.
“Recently, they’ve only lost two games and they’ve both been against us.
“The run they are on at the moment probably sits them in a better position than they are in at the moment in any other season.
“I understand supporters frustrations but my perspective of the match was that we managed to get the win against a side playing well at the end of a tough schedule.”
He added: “Expectations are that most of our matches will be easy, but they aren’t.
“We don’t have a Championship level squad, we have a squad that can compete in this league as do the other sides.”