Covert Testing and Risk Mitigation Improvement Act of 2019 This bill establishes standards for the covert testing process that the Transportation Security Administration (TSA) uses to evaluate its aviation security operations. Specifically, the TSA must implement an internal, risk-informed covert testing process for aviation security operations that can yield statistically valid results; execute at least three covert testing projects each year that are designed to identify systemic vulnerabilities in the transportation security system; establish a system to address and mitigate the vulnerabilities identified and assessed pursuant to the testing process; compile a list of the vulnerabilities, including a brief description of the nature of each vulnerability; and report the status of the vulnerabilities to Congress as part of its annual budget submission.