The Board of the CMF is in charge of the Commission's superior management, and shall apply its powers and fulfil its functions according to the provided by this law and others.

NAME	POSITION
Solange Berstein Jáuregui	Chairwoman
Mauricio Larraín	Deputy Chairman
Kevin Cowan	Commissioner
Bernardita Piedrabuena	Commissioner
Augusto Iglesias	Commissioner

Review Board's main functions

Other authorities

NAME	POSITION
Andrés Montes	Prosecutor of the Investigation Unit
Osvaldo Adasme	General Director of Prudential Supervision
Daniel García	General Director of Market Conduct Supervision
Luis Figueroa	General Director of Prudential Regulation
Patricio Valenzuela	General Director of Market Conduct Regulation
Nancy Silva	General Director of Studies, Statistics & Data
José Antonio Gaspar	General Legal Director
Jimena Moreno Hernández	General Director of Administration and Operations
Juan Francisco Cantillana Paredes	General Director of Personnel
Gerardo Bravo Riquelme	General Secretary

Prosecutor of the Investigation Unit

Andrés Montes Cruz, Prosecutor of the Investigation Unit, has a Master's Degree in Legal Institutions from the University of Wisconsin, United States; a law degree from Universidad Diego Portales; and a postgraduate degree in Accusatory Systems and Criminal Justice from the same university. Mr. Montes has led the Investigation unit since its creation in January 2019.

Prior to joining the Commission, Mr. Montes was Head of the North Central Metropolitan Regional Prosecutor's Office of the Public Prosecutor's Office, which he joined in 2004. He was also Chief of the Territorial Prosecutor's Office A, Santiago and actively participated in the implementation of the Criminal Procedure Reform.

During his career as a prosecutor, Mr. Montes acquired extensive knowledge of the financial market. He has led investigations of economic crimes in highly-complex, media-influential cases, including several affairs of the CMF's administrative competence, as well as with other regulatory agencies and public institutions.

Previously, Mr. Montes was a prosecutor for the State Defense Council (CDE, for its Spanish acronym). He was also a member of the Judicial Academy, where he was Coordinator of the Qualification Program to apply for the positions of Minister and Prosecutor of the Court of Appeals; Secretary of Minutes of the Board of Directors; and Coordinator of the Training Program for the Criminal Procedure Reform.

Review Prosecutor of the Investigation Unit's functions.

General Director of Prudential Supervision

Osvaldo Adasme Donoso, General Director of Prudential Supervision, holds a Master's degree in Business Administration from IEDE Business School and a Bachelor's degree in Business Administration from Universidad de Chile.

Mr. Adasme joined the former Superintendence of Banks and Financial Institutions (the current Financial Market Commission) as a Risk Analyst in 1990, and later became Head of its Analysts Group. Between 1993 and 1997, he was Chief Risk Officer and Deputy Credit Manager in a banking sector entity, returning to the Superintendence in late 1997 as Head of the Supervision Department. In 2001 he was appointed Director of Supervision and held the position of Supervision Intendant of Banks and Financial Institutions between March 2018 and March 2021, when he was appointed General Director of Prudential Supervision.

Mr. Adasme has been a consultant on credit risk and economic sector supervision for other supervisory agencies in the region and has taught courses on credit risk management. He has also been a consultant for the International Monetary Fund's Financial Sector Assessment Program (FSAP) applied to other countries.

General Director of Market Conduct Supervision

Daniel García Schilling, General Director of Market Conduct Supervision, holds a Master's Degree in Economics and Regulation of Public Services from the University of Barcelona (Spain); a Master's Degree in Strategic Communication; and a Master's Degree in Business Law from Universidad Adolfo Ibáñez. He is a journalist and holds a Bachelor's Degree in Social Communication from Universidad de Chile.

Mr. García has vast experience in regulatory and supervisory development in the financial sector, as well as in the management of strategic projects in the public sector and regulatory work for the protection of consumer rights.

He joined the Commission in 2014, first as Chief of Staff and as of 2016, as Intendant of Insurance, a position he held until assuming as General Director of Market Conduct Supervision in 2021. Between 2012 and 2014, Mr. García was Director of Institutional Affairs and Communications at the former Superintendence of Banks and Financial Institutions (the current Financial Market Commission), and between 2007 and 2010, Chief of Staff at the former Superintendence of Securities and Insurance (also the current Financial Market Commission).

General Director of Prudential Regulation

Luis Figueroa de la Barra, General Director of Prudential Regulation, holds a Master's degree in Economics from New York University in the United States, and a Bachelor's degree in Business Administration, with a major in Economics, from Universidad de Chile.

Mr. Figueroa joined the former Superintendence of Banks and Financial Institutions (the current Financial Market Commission) in 2014, as Intendant of Regulation and as of June 2019, as Intendant of Regulation of Banks and Financial Institutions of the Commission. In 2021, after the Commission launched its new organizational structure, he was appointed General Director of Prudential Regulation. He is also Chile's representative before the Association of Supervisors of Banks of the Americas (ASBA), serving as Chairman of its Technical Committee.

Previously, Mr. Figueroa headed both the Regulatory Intendance and the Financial Division of the Superintendence of Pensions. He has been Economist of the Financial Policy Division of the Central Bank of Chile; of the Studies Department of the Superintendence of Securities and Insurance; and of the Investment Department of the Ministry of Planning and Cooperation. He was a professor at the Universidad de Chile and has authored several publications related to capital markets.

General Director of Market Conduct Regulation

Patricio Valenzuela Concha, General Director of Market Conduct Regulation, holds a Master's Degree in Finance from the University of Chile, and a Bachelor's Degree in Business Administration from the same university.

Mr. Valenzuela joined the former Superintendence of Securities and Insurance (the current Financial Market Commission) in 1998, and assumed as Intendant of Securities Market Regulation in 2016, serving until the creation of the General Directorate of Conduct Regulation in March 2021. During his career, he has collaborated in the development and processing of various legislative and regulatory initiatives aimed at improving the corporate governance of securities market entities; investor protection; and access to financing and the management of third-party funds and resources.

Mr. Valenzuela has overseen several regulatory and oversight projects for entities participating in the securities market, and has acted as technical counterpart in various working groups and committees representing the CMF before the Organization for Economic Cooperation and Development (OECD), the Council of Securities Regulatory Authorities of the Americas (COSRA), and the International Organization of Securities Commissions (IOSCO).

General Director of Studies, Statistics & Data

Nancy Silva Salas, General Director of Studies, Statistics & Data, has a PhD in Economics from The London School of Economics and Political Science (United Kingdom); a Master of Arts in Economics from the Catholic University of Louvain (Belgium); and a Civil Engineering degree in Mathematics from Universidad de Chile.

Mrs. Silva joined the former Superintendence of Banks and Financial Institutions (the current Financial Market Commission) in 2014 as Director of Studies, a position she held until her appointment as General Director of Studies, Statistics & Data in March 2021. Previously, she worked as a senior economist in the Financial Policy Division of the Central Bank of Chile and in various teaching positions at Universidad de Chile, Universidad Diego Portales, Universidad de los Andes, and the London School of Economics.

Mrs. Silva has vast experience in financial research. She has participated as chair of the Financial Stability and Development Conference, been guest editor of the Financial Stability Journal, and a member of the Scientific Committee in several international conferences. She has spearheaded several research and regulatory activities in the industries under the supervision of the present-day CMF, including the latest amendment to the General Banking Act; implementation of Basel III liquidity and capital regulations; and several projects associated with strengthening the bank resolution process.

General Legal Director

José Antonio Gaspar Candia, General Legal Director, is Master in Laws from the Columbia Law School (New York, United States), and a lawyer from the Pontificia Universidad Católica de Chile.

Mr. Gaspar joined the Commission in 2014 as Securities Prosecutor of the former Superintendency of Securities and Insurance (the current Financial Market Commission). Since 2017, he headed the CMF's Legal Area and held this position until being appointed as the institution's General Legal Director in March 2021. Prior to joining the Commission, he was a partner at the Noguera, Larraín & Dulanto law firm, as well as an international associate at Simpson, Thacher & Bartlett, New York.

In the academic field, Mr. Gaspar has been and is an undergraduate and graduate professor at the Pontificia Universidad Católica de Chile and Universidad Diego Portales, among others. He has also authored several articles in his field of expertise.

General Director of Administration and Operations

Jimena Moreno Hernández, General Director of Administration and Operations, holds a Master's Degree in Planning and Management Control from Universidad Mayor, and an Accounting and Auditing degree from Universidad Católica de la Santísima Concepción. She is also a graduate in Financial Management from Universidad Adolfo Ibáñez; in Management of High-Performance Teams from Universidad Católica; and in Programming and Management Control from Universidad de Chile.

Mrs. Moreno has over 15 years of professional experience in the financial sector and general administration, both in public and private institutions. A member of the Commission since 2013, she joined the institution as Head of the Financial Administration Department after having held similar positions at the Ministry of Labor and Social Security, and the Housing and Urban Development Service of the Metropolitan Region. Prior to her appointment as General Director, Mrs. Moreno was the CMF's Director of Administration and Operations and Head of its Finance and Planning Division.

General Director of Personnel

Juan Francisco Cantillana Paredes, General Director of Personnel, holds a Master's Degree in Strategic People Management and Organizational Behavior from the Pontificia Universidad Católica de Chile; a Law Degree from Universidad Santo Tomás; a Diploma in Personnel Management in the Public Sector from Universidad Alberto Hurtado; and a Certificate in Human Resources from the University of Notre Dame.

Mr. Cantillana joined the Commission in 2015 as Head of the Personnel Management Division of the former Superintendence of Securities and Insurance. He later assumed the position of the CMF's Director of Personnel in 2020, and General Director of Personnel as of March 2022. During his professional career, Mr. Cantillana has held various management positions in public entities, including Deputy Director of Human Resources at the Internal Revenue Service; Head of the Senior Public Management Area of the National Directorate of the Civil Service; and Head of the Personnel Division at the Institute for Agricultural Development. He was also a member of the Consultation Committee of the National Directorate of the Civil Service, and was nominated as a public sector expert in Human Resources.

He has taught undergraduate and graduate courses at the Universidad de Chile and Universidad Central de Chile, and participated as speaker at various seminars, conferences and other training events on management and personnel development in Chile and abroad.

General Secretary

Gerardo Bravo Riquelme, General Secretary, holds a Master's Degree in Management and Public Policy from Adolfo Ibáñez University and a Law degree from the University of Chile. He is a specialist in administrative and commercial law with 25 years of experience in the public and private sectors. Mr. Bravo has held high-responsibility positions and acted as Prosecutor for various public entities, as well as legal advisor to various companies and law firms. In addition to his role as General Secretary, he is also the CMF's Compliance Officer in matters of probity and prevention of money laundering.