EU banks failing on op risk and governance – ECB

Central bank raises concerns on board management, risk controls and data aggregation

Many European lenders scored dismally on operational risk management and internal governance in the European Central Bank’s Supervisory Review and Evaluation Process last year.

Of the 109 banks evaluated under the SREP in 2019, just 13% achieved a good score of one or two for operational risk. Eighty-seven per cent were assigned either the second-worst score, a three, or the very worst, a four –