Publish date: March 7, 2024

Webinar Overview

This insightful Cybersecurity Roundtable featured guest speakers Freddy Feliz, CIO & VP of Information Technology of Mortgage Bankers Association, Bruce Phillips, SVP & Chief Information Security Officer of MyHome (A WFG National Title Company), and Bob Stone, VP of Snapdocs, focused on proactive strategies to mitigate risks in today’s changing cybersecurity landscape. 

Panelists explored the impact of escalating cyber attacks and the rapidly growing annual cost of cybercrime. During the webinar, panelists discussed the critical components of an effective cybersecurity strategy and outlined the role technology plays in protecting sensitive company data.  

Key Takeaways

1. An Effective Cybersecurity Strategy is Constantly Evolving: Cybersecurity strategies should be treated as "living, breathing documents" that evolve with the changing threat landscape. A successful cybersecurity program has a lifecycle that includes ongoing inspection, regular testing, and frequent updates.
   
   
2. Humanize Cybersecurity Training: Cybersecurity training should be humanized and realistic. Training should be frequent, using believable real-world examples, and should consider the mindset of people who might fall for such scams.
   
   
3. Clearly Communicate Risks to Leadership: Executive buy-in for cybersecurity initiatives is crucial. This involves frequently communicating security risks, outlining recommendations, and establising the level of risk the company is willing to accept.
   
   
4. Industry Collaboration is Important, but Challenging: Cybercriminals actively share information, resources, and tools to execute increasingly sophisticated cyber attacks. In contrast, industry regulations and lack of transparency make information-sharing challenging. Being open about cybersecurity incidents, vulnerabilities, and strategies is key to improving security across the mortgage ecosystem.