On day of cooking, let tri-tip rest on the counter for 30-45 minutes until roast reaches room temperature, and season again with salt and pepper.
Preheat oven to 425°F. Set aside wire rack on foil-lined sheet pan.
Preheat heavy-bottomed pan on medium heat.
Add oil to pan. Once oil is hot, sear beef on all sides for 3 minutes per side, or until browned.
Place Tri-tip on wire rack and transfer to oven until internal temperature reaches 120°F, about 12 minutes.
Let rest for at least 15 minutes. Slice thinly against the grain.