Guaranteed Financial Institutions can structure portfolios with imbedded options to take on excessive risk without paying for it. This provides an incentive to take on higher risk. This paper proposes variants on Contingent Convertible (CoCo) bonds to be mandatorily included in the management remuneration package as a disincentive to taking higher risk. We show how the conversion ratios of the CoCo bonds can affect managers' appetite towards risk-taking and how incentives can be set up to have management make choices consistent with those made under efficient pricing.