April 26, 2023 - Solange Berstein, Chairwoman of the Financial Market Commission (CMF), presented today the Commission's 2023-26 Strategic Plan (SP) in an event held at the auditorium of the Pontificia Universidad Católica de Chile's Extension Center. The Chairwoman stated that eight major strategic objectives are part of the Plan after a participatory process involving the different areas and strata of the CMF.
"Our conviction is that this process should be participatory, since the heart of this project is in the people. We were confident of finding the keys to enhance our work today and going forward through listening and dialogue," said Mrs. Berstein.
Fulfillment of the 2020-22 Strategic Plan
The new CMF Plan for the next four years is based on the progress and results of the 2020-22 SP, which included the execution of 32 initiatives in the areas of regulation, prudential supervision and market conduct, sanctioning procedures, and institutional development. 12 of these 32 initiatives have been completed after fully achieving their purpose; 13 will have continuity in the 2023-26 SP; and another 7 were incorporated as ongoing and permanent tasks for each responsible area.
Some of the initiatives that have allowed the CMF to advance in its consolidation process, as well as to strengthen its regulatory and supervisory capacities, are highlighted at the end of the 2020-22 SP.
The New 2023-26 Strategic Plan
The 2023-26 SP confirms the vision, mission, and values agreed upon during the previous process. It focuses on eight strategic objectives that contribute to strengthen the Commission's mandate by highlighting its prudential, solvency and stability role in the financial market; the market conduct role through transparency, integrity, and fair treatment in the financial system; and the financial market development role by facilitating the proper evolution of the market by strengthening financial inclusion.
- Reinforce the CMF's prudential performance with a prospective approach to risks and an aggregate vision of the market.
- Advance in the development and implementation of a framework for regulatory, supervisory, and sanctioning issues.
- Define and execute a market development agenda alongside the strengthening of financial inclusion.
- Consolidate institutional positioning.
- Enhance the attraction, development, and loyalty of personnel with the highest level of knowledge, as well as technical, interpersonal, and personal abilities.
- Complete the process of cultural, operational and infrastructure integration.
- Develop and implement a data, technology and digital transformation strategy based on a culture that promotes creativity and innovation.
- Consolidate the Commission's institutional governance.
The SP includes the promotion of a series of initiatives with specific projects and activities to achieve these eight objectives. In addition, it considers the implementation of governance and a set of metrics that will allow the CMF to monitor each initiative's degree of progress during the committed period.
