The biggest challenge I face is gaining a global perspective of the functioning of the hedge fund industry and an understanding of alternative investment vehicles and their risks. The knowledge I learned in the CAIA program is crucial in order for me to properly serve the needs of stakeholders in this vital industry, and in order to identify areas of regulatory weakness. The recent credit crisis has underscored the need for the alternative investments industry to improve its management of risk, to strengthen its valuation processes, and to increase transparency of the investment structures being utilized.