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"It is challenging to undertake this new position because, by definition, the financial market is led by men, and we can see it even more in the case of Operations Management”. 

Business Engineer Clementina Torres has been working at Depósito Central de Valores (DCV) for 14 years. She joined the company in 2009 as a risk analyst. Then she undertook several positions in the department until the creation of the Processes department, which she led from its start until November 2022, when she was appointed Operations and Processes Manager.

"My relationship with DCV started in 2007. I worked at an auditing firm and was in charge of auditing the company for several years. When I had the opportunity to join DCV, I did not think about it twice. I was already familiar with the company; it was a good place to work, and the risk department had been recently created, so I was excited to become part of the team," says Clementina.

How did you receive the news of being appointed DCV's Operations and Processes Manager?

It was challenging to undertake this new position because, by definition, the financial market is led by men, and we can see it even more in the case of Operations Management". However, I took it as a very important personal and professional challenge. I could not decline the invitation made by Rodrigo Roblero, giving me the opportunity to lead a project and a transformation as we were experiencing it, and understanding that having women involved in the Operations department at DCV makes a difference because we contribute with a different leadership style.

 How do you evaluate your first two months as a Manager?

The path has not been so difficult. I guess it is because of all the experience I have acquired throughout my years working at the company. In my previous roles, I had the opportunity to meet many people and learn a lot from the business. There is a lot of care involved with the people and the work we have undertaken. On the other hand, the process we experienced with the DCV Evolution Project (DCVe) was very meaningful. Often being in the spotlight may expose you to the point of burnout, or it can act as a platform to go above and beyond, and I believe that the latter is what happened in this situation. I got seriously involved in the project from the beginning, which allowed me to know about everything that happens at DCV, to grow personally and professionally and open up my mind to the new ways of working, transformation, adaptation, agility, and most importantly, cooperation.

What significant changes did you see after the DCV Evolution Project's go live?

In my opinion, as transformative as DCVe was for the company, it did not change the nature of the work of Operations Management. Mostly, it incorporated many improvements for other departments, such as Support, Applications, etc., to improve processing capacity and reduce time, which improves the processes for our market and generates operational efficiencies, which is the focal point of this Management. Regarding people, I believe we are undergoing a transition stage. The exit was very successful, but we waited for the stabilization period when the project concluded, which came in faster than we expected. Due to this, a structure change came in to accompany this transformation process that we successfully started with the go-live of August 16. I feel that many of us are currently adapting to this process, which is a very healthy thing to do, since this is a significant transformation process, especially for those who have been at DCV for a long time. Who we are today is quite different from who we were 10 or 15 years ago.

What is your personal challenge?

Provide visibility to the operation. Create commitment and mobilize, and working happily is ideal. Women have a trait that is doing several things simultaneously, with love and passion that moves others, with leadership styles that are more horizontal and that promote a sense of warmth in the workplace. In these departments, where we work daily with structures and routines that do not leave much room for creation, ideas or innovation, the challenge is finding the tone, voice, and space to transform ourselves together, improve and become more efficient.

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A study conducted by Depósito Central de Valores (DCV) and Cadem also reveals that the lack of knowledge regarding interest rates has decreased by 11% in the last four years.

Depósito Central de Valores (DCV) and Cadem have recently launched a new version of the Financial Knowledge Index (ICF), which shows a high lack of financial knowledge in Chileans. Based on the main results, 42% of Chileans have a low level of financial knowledge, 21% high, and 37% average.

The index was obtained by measuring three main aspects: Knowledge about financial institutions, financial products, and interest rates. Financial knowledge is still marked by a strong socio-economic segmentation, established in segment C1, where half of the respondents claim to have high or average knowledge. In contrast, over half of the D and E segments claim to have poor financial knowledge or none. Also, knowledge regarding cryptocurrencies has increased by 38% over the last four years and is currently 76%.

The report also indicated a considerable gender gap in financial knowledge. While 40% of men say to know a lot or quite enough about financial issues, 26% claim not to know anything about them. Regarding women, 26% claim to know a lot or enough, while 38% do not have any knowledge.

As Javier Jara, Legal and Corporate Affairs Manager of DCV, explained, "the numbers provided by the study reflect the urgency in Chile to make progress in financial education. People must know about the financial services and products they can obtain and how to obtain them to have a healthy and growing economy. We must move forward by working with the main players in the field, the private and public sectors, and the academia."

The study of DCV and Cadem also proves that most Chileans do not have sufficient knowledge about interest rates. 66% say they understand how interest rates work, representing an 11% reduction from 2020. However, 61% (+20pts) know about the diversification of investments, and 71% (+19pts) claim to understand the effect of inflation on savings.

Check the full report (Spanish only)

Here

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Twelve startups from four different countries were the finalists of the event hosted by AUNA, the first consortium in Latin America to create and provide access to blockchain-based solutions, comprised by Depósito Central de Valores (DCV), the Santiago Stock Exchange, and GTD, to finalize the first open innovation tournament organized by them.

After receiving more than 100 applications and with more than 32 semifinalists, the grand finale took place on November 29 with 12 startups from four countries: Chile, Argentina, Colombia, and England.

The jury was comprised of representatives of the organizing companies: Fernando Gana, General Manager of Gtd; Tomás Gil, Innovation and Development Corporate Manager of Gtd; Carolina Ariztía, PMO Assistant Manager of Gtd; Juan Landaeta, Technology and Operations Manager of Gtd; Javier Jara, General and Corporate Affairs Manager of DCV; Claudio Calderón, Head of Strategic Projects of DCV; Andres Araya, Clients and Businesses Manager of the Santiago Stock Exchange; Gabriel San Martín, New Businesses and Markets Assistant Manager of the Santiago Stock Exchange, and Cristobal Pereira, CEO of Colledge.

The presentations and demos of the finalists were displayed in a hybrid format, in-person and remotely, in the conference room of the Santiago Stock Exchange, and addressed five different topics; digital identity, disbursements and expediting procedures, improvements for insurance companies, expediting municipal procedures, and an open challenge.

In an online ceremony on Friday, December 2, the organizers and sponsors awarded the winners and the honorable mention. The first place and the winner of the 10,000 USD prize was Juan López from Colombian company Contrato Marco with the collXM solution; an OTC warrants management platform based on digital records through a platform developed on blockchain technology.

The second place was for two proposals: Valeria Deik from Azurian, with the Meditrace solution, a drug traceability platform, and Jorge Garcés from Gatblac, with the Invento solution, an NFT purchase and sales platform to manage events, loyalty programs, and online marketing enabling a market for ticket resale where producers are benefited. Both were part of the open category.

The third place was awarded to Joaquín González with Cero Trade, a renewable energy certificates sale and traceability platform, also part of the open category.

The second and third place got to choose between a prize consisting of 12 months of free 2 to 20 GB link from Gtd or 12 months of free virtual server access to Gtd laaS.

Finally, an honorable mention was awarded to Daniel Malaver with Equitly Finance, a tokenized shares trade platform to provide funding to companies and startups, also part of the open category. Daniel obtained a mentorship from Colledge through its founder Cristóbal Pereira.

BCI Lab offered to pilot two concept tests with the winners' proposals.

Juan López, who obtained first place, explained that "we are a Colombian startup that consists of a warrants exchange system based on digital records through a platform developed on blockchain technology. I would like to thank DCV, GTD, and the Stock Exchange for making this dream possible. All the organizers were very generous with the time they spent on us. This is a great opportunity to develop the blockchain technology ecosystem, and I believe it puts us ahead in terms of where we need to be in the region. I think we can do it, and we will."

At AUNA, they expressed that "we feel proud about the proposals presented and of the great level of the finalists, we are convinced that traditional actors have an important role to play in being leaders of this future, but startups play an even more important role because they are the engine of innovation and technology disruption that moves industries."

About AUNA Blockchain:

AUNA Blockchain is a joint initiative of Gtd, the Santiago Stock Exchange, and Depósito Central de Valores. It is the first blockchain for businesses consortium in Latin America whose aim is to help bring together blockchain solutions for the financial market. Either as members or partners, participants will be part of this innovative business blockchain world where they will be able to create, launch, and market blockchain applications within days and not months, become known among the broad network of clients of the three founding companies and establish partnerships with other companies of the AUNA ecosystem. For more information, visit https://aunablockchain.com/.

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DCV gets together with its clients in an event to celebrate the success of the DCV Evolution Project.

A close, dedicated, and strongly committed work from Depósito Central de Valores' clients was one of the distinctive marks of the DCV Evolution Project. This project ended with the start-up of the new services platform for local and cross-border custody on August 26. "Training, tests, and work meetings are some examples of the joint work of our clients and DCV that allowed us to successfully conclude this great technological innovation project that provides our Company with the highest international standards," says Rodrigo Roblero.

The event on November 9 was intended to thank all the people who were part of the project. Guillermo Tagle, Chairman of the Board of Directors, and Rodrigo Roblero, General Manager of DCV, highlighted the importance of collaborative work and the involvement of the entire market. Guillermo Tagle said, "this celebration became a valuable instance to get closer to our clients, which is precisely how we will continue working at DCV".

Check some of the photos of the event.

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