Abstract:
The Fourth Industrial Revolution (4IR) is a broad and complex subject which has presented many challenges to leaders in the banking industry. Although many frameworks exist, the literature is limited in defining the skills required by leaders in the banking industry. This study aims to identify the competencies required by leaders in the banking industry in order to lead through the fourth industrial revolution.
A qualitative, exploratory research method which involved ten face-to-face interviews with leaders currently employed in the banking industry was undertaken to gain insights on the competencies required for effective leadership. The participants included leaders such as CIO’s, Heads of Departments and Senior Managers.
The literature on leadership competency frameworks indicates 15 critical skills that enable effective leadership including but not limited to, Critical analysis and judgment, Vision, Empowerment and Development. However, the study identified additional skills that are critical for leaders in the banking industry, i.e. Business and IT Acumen, Education, and Training. The researcher presents their findings in a proposed model in the final chapter. The findings derived from this study contributes to the extant literature in the field of leadership in banking.
