This is the second installment in a three part series summarizing the key takeaways from SEI’s “Top 10 Operational Risks: A Survival Guide for Investment Management Firms.”  The first installment discussed a hedge fund manager’s attitude and approach towards operational risk, the need for effective oversight of firm functions and the imperative of appropriate training and staffing to minimize operational risks.  See “Top Ten Operational Risks Facing Hedge Fund Managers and What to Do about Them (Part One of Three),” Hedge Fund Law Report, Vol. 5, No. 40 (Oct. 18, 2012).  This installment addresses information hand-offs, pitfalls in automating processes and workflow documentation.