Santander op risk head aims to "get off bottom rung" after CCAR fail
Santander's US chief operational risk officer tells Op Risk Europe that failing the Federal Reserve stress tests is embarrassing, but preparation is difficult when "best practice" changes every year. Aon risk head says the sharing of qualitative data could help
A key objective for Santander looking in to the next year is to "get off the bottom rung" of the US stress test results, Steve Bhatti, chief operational risk officer at Santander US, told delegates at Op Risk Europe yesterday (June 11).
The Spanish bank's US arm was one of two banks that failed the latest round of Comprehensive Capital Analysis and Review (CCAR) stress tests – the other being
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