Hedge funds have great latitude in this area, says Capital Market Risk Advisors, a financial advisory firm based in New York. Chances are good that you know exactly where it is, and we think chances are also pretty good that when it goes off at 2 am, you'll wake up completely confused and have no idea what to do. Xerox in particular may be a good example of documentation language that was intended to protect counterparties in a downgrade situation, but now may have unintended negative consequences if these clauses actually get triggered. Rahl acknowledges that credit trigger levels need to be precise, but she also worries that they introduce a certain amount of systemic risk. Last month, New York-based consultancy Capital Market Risk Advisors released a survey on economic capital allocation .
Some firms find other ways to attract good candidates in the tight job market.
Richard Horwitz, principal at Capital Market Risk Advisors, a 15-person New York consulting firm, said his company has sought out nontraditional workers.