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Risk Assessment and Management: Identify potential financial risks and develop risk management strategies. This includes evaluating market risks, creditrisks, operational risks, regulatory risks, and other factors that may impact the business's financial stability.
And so, with this gave me exposure to everything from investment banking to retail, looking at like checking account campaigns, like how do you get more assets in the door to creditrisk. BITTERLY MICHELL: And so, one of the things that we did was we started communicating more frequently with our clients. BITTERLY MICHELL: Yeah.
We also have, you know, beverage, food and ag, our m and c business supporting some of the subsidiaries media communications and di digital infrastructure, very hot sector right now in terms of the, the huge need for data centers and capital for data centers overall, the innovation economy business, again, as I mentioned, sort of part of all that.
But there are so many tools at your disposal, and let alone how much duration you’re taking, how much interest, how much creditrisk you’re taking, illiquidity, et cetera. And how do you make the decision, I’m not comfortable with this creditrisk relative to the return it’s going to throw off?
SEIDES: And I’ll tell you a story that’s fun about the communication of it too. The challenge is unlike the S&P 500, hedge funds sit in a box that has underlying creditrisk from prime brokers. So the credit markets froze. ” It wasn’t that they didn’t communicate that.
And you had to take on significant duration risk and creditrisk just to earn a couple percentage points. And until they decide to communicate a different message, that’s what the market is going to continue to follow. And now, you’re in an environment where money market funds are yielding 5-1/4%.
So obviously, risk managers, you know, and CROs were very focused on how do we manage that risk and diversify that creditrisk that they were taking on in mid-market companies. One of them is here in the studio with us today, Jessica Tannenbaum who heads up our marketing area and communications. KENCEL: Exactly.
And up until that moment in time, we didn’t spend a lot of time on creditrisk in mortgages. We didn’t really have to model creditrisk because that was, that risk was taken by the agencies. But in these private labels, you had the, the market was taking the creditrisk.
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