Plan is the key here. In reality the SVP is hoping that they can make the decision to go with your solution.

Q: What are you going to do about missing this bug?

A1: "I'm going emphasize "BE" in Hamlets' "to BE or not to BE". - You should be fired for this, but that is not the planned decision.

A2: "I'm going to spend $$$$ on some tool". - This tool might solve the problem, but the budget doesn't allow for it and you should know that: I'm forced to make the decision to override you but I didn't plan on making that decision.

A3: "I'm going to [summarize something reasonable]" - good, you are doing what I expected.

Note that A3 doesn't have to work, it just has to be reasonable. If it works great, if not I will ask again next time and I expect you have different answer. Not working at all better be rare though since each not working loses confidence, but fortunately this is rare. However often working is sometimes all you can get (the next bug might be unrelated - no single answer could solve both). The idea is we repeat this for each bug until the rate of missed bugs is acceptably low.