Wintrust Financial Corporation [NASDAQ: WTFC]

Michael Wichmann

Information Risk Steward

Michael Wichmann is a dynamic and enthusiastic executive with extensive operational, security, IT, sales, marketing, and management success.  He currently serves as the Director of Information Security at Wintrust Financial Corporation. He is responsible for overseeing all information-security programs and strategies, in addition to providing guidance to theChief Security Officer on a wide array ofmatters. His team is tasked with monitoring progress in nearly 30 different programmatic areas and incorporating maturity components into each area.       

What are some of the challenges you have noticed in the industry?

One of the challenges is the difficulty in honestly assessing where an organization currently stands with respect to rating itselfon a maturity scale. It can be difficultfor any executive to balance meeting business needs and regulatory responsibility, while also assessing where the organization may be lacking. By having an honest perspective you can develop the trajectory of change and work through enveloping others into the success of those goals.  While implementing change, it's also important to set realistic goals for improvement and acknowledge that progress will take time. Prioritizing which components to improve first, whether it be processes, technology, or personnel, is another challenge. Without the right people and framework in place, even great technology cannot be utilized effectively.

How do you ensure that people accept and adapt to changes in processes and technology when implementing a strategy?

From an end-user perspective, it is important to avoid technical jargon and to speak in terms that the impacted users can easily understand. Making the upcoming changes as concrete as possible—by providing a timeframeand explaining the benefits of the changes as they relate to the users' day-to-day work—also promotes understanding and adoption by encouraging buy-in.

“Rushing to implement a solution can result in more time spent fixing it later. Take the time to get it done right on the first try, and the accomplishments will stack up like Legos andcreate a solid foundation for success.”

When implementing new tools, processes, or security measures like phishing prevention or secure file transfers, recognize and promote business success. Be your own advocate, reward the team, and celebrate victories like eliminating malware. Hold your team and the enterpriseto high internal standards, and edify team memberson how tomaster new technologies. This promotes collaboration, new skill acquisition, and growth opportunities, making the adoption of new tools and processes less daunting.

How would you advise your peers and colleagues in the industry?

Be honest with yourself and your approach towards underperforming areas. Don't be afraid to acknowledge where you, your team, and the enterprise are, and make an effort to improve. Remember that tools are only as good as those operating around them, so be transparentabout the level of effort and time required for change. Rushing to implement a solution can result in more time spent fixing it later. Take the time to get it done right on the first try, and the accomplishments will stack up like Legos to create a solid foundation for success.