The downgrading of the firm created an ineligibility to issue guaranteed interest contracts to 401(k) clients. A minimum AA rating required by clients for issuers to bid on stable value assignments.

Investigated alternative approaches to accessing this market. Based on a comprehensive analysis and a deep understanding of product opportunities, collaborated with MBIA, a primary worldwide issuer of financial guarantee insurance, to create a credit-enhanced GIC, where MBIA guaranteed the performance of the contract with stable value clients.

Delivered a triple-A product that kept the company in contact with customers and produced sales of more than $1 billion.