You are CFO of a small business that maintains average deposit balances at local banks of $450,000 over the course of the last several years. During the year, due to ski season sales of skis and ski equipment, deposit balances on any day may be between $1.5 million and $250,000.

Your boss heard about the collapse of Silicon Valley Bank and that other banks may be at risk of collapse, including regional banks in the Western US. He and other investors called an emergency meeting to discuss their concerns. You were asked to prepare a powerpoint presentation and make recommendations as to actions to take if any.

List three ideas that you would present to your boss and investors to manage the risks to your business.

Select the best idea and explain why it is necessary, and how it would address the risks to the business,