The president of the International Cyber Threat Task Force is to be the keynote speaker at a webinar hosted by Elevate Executive Selection Bermuda Ltd, the executive search and recruitment business.

Paul Dwyer will present “Cyber Threats: Be Prepared, Not Scared!” next Thursday (November 18) at 11am.

The webinar will also feature Thomas J O’Rourke, CEO of the Bermuda Bankers Association (BBA).

The ICTTF, a non-profit organisation based in Ireland, said that it was established in 2010 to promote the ecosystem of an international, independent, non-partisan cybersecurity community.

Organisers said that Mr Dwyer will outline the status of the current cyber threat landscape, revealing various cyber threat actors with different objectives but sharing a common underground criminal ecosystem and economy valued at $6 trillion annually.

They added that Mr Dwyer has advised and educated C-suite leaders worldwide across multiple sectors, including banking, financial services, insurance, tech, pharma and government security services.

Mr O’Rourke is an experienced risk-management professional. With respect to cybersecurity issues, he has been involved as a US senior bank examiner, the banking team leader at the Bermuda Monetary Authority and in his current role at the BBA and its cybersecurity sub-committee.

A spokeswoman for Elevate said: “In a recent Global Digital Trust Insights Survey, it was found that 60 per cent of organisations have less than a thorough understanding of the risk of data breaches.

“The survey also reflected the challenges organisations face in building trust in their data — ensuring that it is accurate, verified and secure, so that customers and other stakeholders can trust that their information will be protected. Many companies expect a rise in security breaches yet few have formally assessed their exposure to this risk.”

She added: “As the world recovers from Covid and transitions to a ‘new normal’, we have to deal with the reality that bad actors have taken advantage of the changes made within systems and business models.

“Considering the global cyber skills challenge with over five million open cybersecurity jobs, all enterprises are struggling to deal with what seems to many as a ‘perfect storm of cyber-risk’.”

Elevate said that the growth in digital innovation has been considered a positive outcome of Covid by many but consider how this has highlighted our interconnectedness, interdependencies and vulnerabilities to a cyber ecosystem that we all rely on to be part of a digital society and economy.

The answer to the cyber challenge is leadership, Elevate said, and Mr Dwyer will outline key strategies that organisations and individuals can take in order to be part of the solution and protect their businesses.

Sylvia Jones, director of Bermuda operations at Elevate, will host the webinar, which is designed to inform and highlight how cybersecurity is important to business growth.

The webinar will consist of a 45-minute presentation followed by a 15-minute Q&A.

Questions may be submitted in advance to Sylvia@elevateselection.ie or James@elevateselection.ie.

Register at https://share.hsforms.com/11Zrel3ICQ2eIZWQXxHXNfQ5are3.