Operational resilience is a topic of concern for bank boards. Unfortunately, many operational resilience initiatives focus primarily on upgrading internal systems and processes to respond to potentially disruptive events. This internally focused approach can cause banks to pursue reactive, disconnected and short-term projects that are difficult to sustain and detached from overall strategy.
Recognizing this problem, a growing number of banks are refocusing their operational resilience efforts, approaching potential disruptions from an external, customer-centric perspective that seeks opportunities to create and protect value. Such an approach can enable more proactive and effective operational resilience initiatives for institutions of all sizes.