Bank Executives' Strategies for Operational Resilience Amidst Crisis

The world has experienced an unprecedented crisis, COVID-19. During the pandemic, devastation occurred, with loss of life, economic distress, and survival threats. Every business sector was affected by lockdowns and social distancing protocols, including the banking industry. Banks failed during COVID-19, and bank branches disappeared. In the face of crisis, resilient bank- organizations adapted amidst threats to their primary business functions, banking services. Operational resilience describes organizations that successfully thrive amidst a crisis. The target population for this qualitative research study comprised eight bank executives. It explored the strategies implemented in bank organizations to mitigate the effects of the crisis for operational re- silience. The research questions were: RQ1: What self-perceived factors do banking executives indicate as having the potential to impact operational resilience in the banking industry? RQ2: What self-perceived strategies do banking executives have regarding improving operational resilience in the banking industry? The Crisis Management theory was the theoretical framework for this study. Data collection occurred through semi-structured virtual interviews. Dedoose, a data analytical tool, supported coding and thematic analysis resulting in nine emerged themes for operational resilience: Financial Soundness, Superior Technological Capabilities, AI Innovation, All Hazard Risk Management Mitigation, Build Out Remote Capabilities, Deliver Critical Operations Amidst Disruption, Effective Communication, Engage All Associates, and Full Engagement of Customers. These key crisis management mitigation strategies preceded precise application for operational resilience in the banking industry.