A discussion about risk management must begin with an understanding of who owns the risks in any business. Answer is  the first line of defense. First line business leaders create risk in almost everything they do  everything from on-boarding a new client, accepting unique assets, managing a portfolio, and making discretionary decisions, among many others. In this session, we'll talk about the creation and ownership of a variety of risks, as well as how the first line identifies, manages, controls, and reports risks. We'll also cover some ways that we can effectively test first line controls, in coordination with the second and third lines, and how the first line can address deficiencies to mitigate risk, but not end up over-controlled, all while keeping an eye on our clients' experience. This session is designed to serve as both an introduction to first line risk concepts for new risk and control professionals and as a refresher, with some best practices, for more experienced specialists.