The state of Maryland’s top cybersecurity official, James Saunders, joined a panel discussion on cyber risk at the Robert H. Smith School of Business’ SERC CRO Risk Summit, hosted by the Smith Enterprise Risk Consortium (SERC) on Sept. 18, 2025. The invite-only event brought together some of the region’s top risk professionals to network and discuss the latest strategies and future challenges in risk management.
“How an organization assesses and responds to threats is critical in determining whether it can survive and thrive in the future,” said Clifford Rossi, director of SERC and a professor of the practice with more than 25 years of risk management experience. “We held this summit so participants could share ideas and go back to their organizations with strategies they learned from other executives.”
As acting chief information security officer, Saunders is responsible for cybersecurity risk management for the state of Maryland. He said he’s constantly assessing and responding to cyber threats—from ransomware schemes, cyber breaches through third-party providers, and nation-state actors or terrorists looking to infiltrate government IT systems and public utilities.
“Every week I’m briefed on what threat actors are likely to target us in which countries, and then I tie that to a cyber defense perspective—what tools, tech and procedures could these threat actors use,” Saunders said. “We try to get out ahead of it as much as possible.”
The Risk Summit was the latest example of how the Smith School is fostering discussion on big issues among industry leaders and rising as a think tank for the state of Maryland.
Saunders was joined on the cyber risk panel by Gary Ganci, chief risk officer for The Travelers Companies and a SERC Advisory Council member, and moderator Demian Ahn, partner in data, privacy and cybersecurity practice at Wilson, Sonsini, Woodrich & Rosati. They talked about geopolitical threats, the rise of AI and threats from deepfakes and how quantum computing will affect cybersecurity.
That was just one of the day’s six panel sessions that delved into the most pressing risks organizations face today. Other panels covered AI and model risk, operational risk, and supply chain and quality risk management, and featured executives from top organizations in various industries, including Northrop Grumman, Freddie Mac, Arch Capital and Takeda Pharmaceuticals.
Rossi kicked off the event before attendees heard from chief economists at the Mortgage Bankers Association, Morning Consult and the American Trucking Associations in the event’s first panel. The day concluded with a dinner and reception with a keynote from Greg Burns, a former Citi executive, who spoke about risk leadership and the power of partnerships.
The Smith Enterprise Risk Consortium is an academic leader in applied risk management, providing thought leadership, education and outreach to industry and government organizations. In addition to the summit, SERC offers risk management programs and training, and hosts webinars on relevant risk topics throughout the year.
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About the University of Maryland's Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.