Many Healthcare Organizations Realizing the Benefits of an Enterprise Risk Management Strategy
OAKS, Pa., Aug. 13, 2014 – SEI (NASDAQ:SEIC) today announced the company has been hired by Edward-Elmhurst Healthcare to provide outsourced investment management services for the organization’s balance sheet and defined benefit plan, representing more than $900 million in combined assets. SEI’s outsourced fiduciary management model and advisory solution for healthcare organizations delivers an integrated and holistic approach for designing and implementing asset allocation strategies for various investment pools through an Enterprise Risk Management (ERM) framework. SEI’s solution has received the “Peer Reviewed by HFMA®” designation from the Healthcare Financial Management Association (HFMA).
“During a time of complex operational challenges in the sector, many healthcare organizations are focusing on implementing bigger and broader strategic initiatives, and are benefiting from the value in delegating certain investment management functions to outside fiduciaries,” said Craig Standen, Healthcare Director, Advisory Team, SEI’s Institutional Group. “Edward-Elmhurst Healthcare is an innovative and forward-thinking organization. We look forward to a successful strategic partnership in helping them to meet their goals.”
Edward-Elmhurst Healthcare was formed through a merger between Edward Hospital & Health Services and Elmhurst Memorial Healthcare in July 2013, which created new strategic opportunities, as well as operational complexities. Both organizations had previously used investment consultants as part of their investment management programs. Among the reasons Edward-Elmhurst hired SEI is the company’s ability to help integrate various asset pools into one cohesive investment strategy that helps better manage organizational risk.
SEI will provide discretionary oversight for manager research, selection, and monitoring – allowing Edward-Elmhurst Healthcare to focus more time and resources on its broader investment strategy. In addition, SEI’s dedicated Healthcare Advisory Team will work with management to develop and implement an Enterprise Risk Management (ERM) framework that closely links organizational goals, operations, finance, and treasury. SEI’s ERM process is designed to identify potential events or risks that may impact the organization, and helps prioritize and appropriately manage identified risks within a defined “risk appetite.”
About SEI’s Institutional Group
SEI’s Institutional Group is one of the first and largest global providers of outsourced fiduciary management investment services. The company began offering these services in 1992 and today acts as a fiduciary manager to more than 450 retirement, nonprofit and healthcare clients in seven different countries. Through a flexible model designed to help our clients achieve financial goals, we provide asset allocation advice and modeling, investment management, risk monitoring and stress testing, active liability-focused investing and integrated goals-based reporting. For more information visit: http://www.seic.com/institutions.
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2014, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $602 billion in mutual fund and pooled or separately managed assets, including $249 billion in assets under management and $353 billion in client assets under administration. For more information, visit www.seic.com.