ECB Supervisory Priorities 2022-2024/ Emerging operational risks in 2022

ECB has published on 7 December 2021 its supervisory priorities for 2022-2024, based upon its assessment of the risks and vulnerabilities faced by supervised institutions in the current economic, regulatory, and supervisory environment:

• banks emerge from the pandemic healthy;
• structural weaknesses are addressed via effective digitalisation strategies and enhanced governance; and
• emerging risks, including climate-related and environmental risks, IT and cyber risks, are tackled.

Operational risk, it is explicitly mentioned only in relation to IT Outsourcing and Cyber resilience, but in fact has multiple touch points and direct correlation with other areas, whether related to business model, governance or climate and environmental risk.

In this alert you will read more about Emerging Operational risks on radar in 2022.