I consulted my colleague David Johnson, the General Chairman of PSAM 14, for advice on what I could present that would warrant having this opportunity to speak to you today. David suggested I express my views on the “challenges” facing the risk business. I believe he was thinking that at my advanced age with over 60 years of preaching and practicing the risk sciences, surely I should have something useful to say about the most important challenges we face as a risk community. It did sound like a good topic for me to tackle and that’s what I decided to do. My spin on this is that they are not only challenges, but opportunities; opportunities to achieve even greater accomplishments for society than the risk sciences have thus far.