Abstract: Operational resilience is the ability of the organization to prevent, respond to, recover and learn from the disruptions happening in operations to survive and grow without harming the customers and the market. The concept is applicable across all firms in financial sector with a differentiated and proportionate application. It is important for a financial firm to have clear measures for tolerating the impact caused by the disruptions in operational activities and should have a recovery centric and resilience centric mind. The Big Global Bank based on wheel and spoke approach has embedded the Enterprise-Wide Operational Resilience (EWOR) model in its system where outer wheel considers the components like Governance and Standards & Framework of Resilience, and inner wheel comprises the components related to core capabilities of the firm such as crisis management, resources managing capacity etc. The inner most wheel consists of mapping the end-to-end services of the organization, monitoring its performance. The concept of Operational Resilience is very new but highly effective for all the sectors. The study shall throw light on the advantages of developing the operational resilience culture in the organization and will present the future scope for the developments related to the concept.
Learning Objective: The study aims to discuss the following aspects:
1. Understanding the concept of Operational Resilience and the key focus areas for its implementation.
2. Understanding the measures taken by Big Global Bank to embed Operational Resilience into its system.
3. To analyze the effect of Operational Resilience system in Big Global Bank on delivering the services and ultimately churning the profit.