The latter in particular is defined as “being a reliable institution because of its technical nature and excellence in achieving the mandated objectives.” This expresses the need for the CBC to be prepared to respond to the opportunities and challenges that are presented to it at the macroeconomic and institutional level, in the understanding that in today’s world and society the citizens’ and markets’ confidence have to be earned day by day, beyond our past achievements. Based on these definitions, the plan identifies five areas of priority:  Maintain intellectual leadership in the areas related to the institutional mandates of the CBC;  Strengthen the understanding and dialogue of the organization with its environment;  Strengthen its corporate governance to balance out risk tolerance and the efficiency of its business processes;  Improve ability to understand and incorporate technological changes into its tasks; and  Consolidate the CBC as an employer of excellence, capable of attracting and engaging the best talent. Accordingly, twenty-one lines of action were defined that will be developed over this fiveyear period, all of them described in the document in your hands. Below I summarize those that may be of greatest interest for you honorable senators, with their corresponding progress status. Intellectual leadership. Since last January, we apply a new monetary policy communication scheme. To date, we have held six monetary policy meeting under this scheme, three of them accompanied by the respective publications of the Monetary Policy Report and subsequent presentation to the Senate.
This adjustment also involved the creation of the strategic- and technological-risk Department. Technology. A technological observatory was created intended to act as catalyst for enhancing knowledge and adopting important innovations for the CBC’s fulfillment of its functions. The main objectives of the observatory are: (i) to agree on common principles and contribute, inside the CBC, to the coordination of the treatment of disruptive technologies, (ii) create networks with the external community to enhance know-how and identify opportunities and threats, and (iii) agree on the pillars of innovation to promote and contribute to knowledge in those areas. The pillars of interest that have been defined include: digital currencies of central banks, cryptoassets and financial stability, development of digital payments and technology of distributed records and their applications, technology and data management, cybersecurity and risks for the financial system, among other issues. Employer of excellence. We have been working on strengthening the organizational culture and improving the value proposition for our staff in order to achieve effectiveness in attracting and retaining employees and developing their careers. To strengthen the internal career, we are developing an exercise to improve job description and assessment. Hand in hand with the strategic initiatives just defined, the CBC has continued with its projects linked to the fulfillment of its permanent functions.