The tightening of risk and compliance legislation and the need for more effective risk management guidelines and implementation are some of the more prominent challenges currently facing organizations. In response, many firms are redefining their approach to risk and compliance, moving away from traditional models that focus on processes and procedures to models that feature risk culture. While the topic of risk culture is receiving a fair bit of attention, the challenge remains to actually create it. The trick is to build or influence an organizational structure that effectively supports and encourages behaviors that appropriately manage risk without compromising quality, commerciality or innovation. In this way, rather than representing an independent concept, risk culture is simply a reflection of the of an organization’s overall culture, a subset of behaviors and actions that make sure the firm is mindful of risk.