Operational risk exposure is key to survival, says SEI guide

SEI Investment Management Services has published an online ‘survival guide’ to help investment managers with their management of operational risk.

The guide, entitled The Top Ten Operational Risks: A Survival Guide for Investment Management Firms, aims to help investment managers identify and avoid common, yet often overlooked, operational risks that could plague their businesses. The guide is adapted from a book authored by current SEI managing director Holly Miller and her former colleague Phillip Lawton.

The online version aims to make key concepts easily accessible and actionable without becoming mired in esoteric issues or technical terms. The beginning chapters are currently available, with the rest of the guide being released in bi-monthly instalments over the coming months. The guide can be found at: www. seic.com/OpsRisks.

“Managers who view operational risk as an afterthought can rarely survive, much less thrive,” said Holly Miller, managing director, Middle Office Services for SEI’s Investment Management Services division.

“In operations, a minor oversight or mis-step in daily routines can have potentially major cost or reputational consequences that can take years to recover from. That’s why we wanted to provide an online resource to help managers understand and reduce their exposure to operational risk, in a way that’s accessible and not overly technical, so the concepts are truly actionable,” she said.

Each chapter of the online version provides proactive risk management steps, including best practices for identifying whether a given risk exists within an organisation. The series will address areas of risk that are frequently encountered by those who work in or around investment operations, including issues arising from operational reviews; personnel issues; organisational and support issues; and areas of weakness in reconciliation, legal review, and planning.  

SEI, a global provider of investment processing, fund processing and investment management business outsourcing solutions, manages or administers $424bn in mutual fund and pooled or separately managed assets, including $182bn in assets under management and $242bn in client assets under administration.

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