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Attend to the Deed, Not The Word –
Whether you write it “cyber security” or “cybersecurity,” the threats are real and rising, and two major organisations just joined forces to fight back. The Chartered Institute of Management Accountants (CIMA) has signed a Memorandum of Understanding with Templar Executives to strengthen cyber resilience across Europe’s finance sector. The partnership aims to bridge the knowledge gap between finance and cybersecurity disciplines.
Planned Activities and Goals
The agreement outlines plans for joint workshops, expert webinars, and industry events. These will help CFOs and financial leaders gain hands-on insight into cyber threats, data protection, and digital risk.
Uniting Financial and Cyber Experts
Templar Executives, a cybersecurity consultancy, brings operational expertise. CIMA comprises a network of over 580,000 professionals across 150 countries. The goal is to help finance professionals navigate and lead in a risk-heavy digital landscape.
Leadership Voices Support the Alliance
“We are delighted to partner with CIMA to promote knowledge sharing and capacity building at the intersection of finance and Cyber Security,” said Andrew Fitzmaurice, CEO of Templar Executives.
“Cyber Security is no longer just an IT issue – it’s a strategic business imperative,” added Jakub Bejnarowicz, CIMA’s Regional Director – Europe. In recognition of the current state of affairs, Bejnarowicz notes that the agreement is designed to help “build the skills and awareness” and “manage cyber risk effectively.”
Cyber Attacks Drive Soaring Costs in Banking
Recent testimony from HSBC UK CEO Ian Stuart underscores the urgent need for action. Speaking to the UK Parliament in May, Stuart revealed that cybersecurity has become the bank’s single largest business cost. He reported that HSBC faces relentless digital attacks and now spends hundreds of millions of pounds annually on defence systems. “This is our biggest expense in business,” he said. “It’s very much at the top of our agenda.”
“The amount of money [that] banks, all of us, will be spending on our systems is enormous today — and it has to be because our customers rely on digital technology all the time,” he said.
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Commitment to Long-Term Cyber Resilience
Beyond education, the partnership will develop tools and guidance for organisations to build digital resilience and embed cybersecurity culture. The initiative reflects a growing recognition that financial expertise must now include digital risk management.
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