Two years after the Latin American Integrated Market (MILA) was established, Fernando Yañez, General Manager of Depósito Central de Valores of Chile, stated that “MILA expectations have been far exceeded because the three countries which are part of it, Chile, Peru and Colombia, share similar economic features and are eager to grow within the financial markets”.
In order to provide a service infrastructure with the highest security and quality standards, Depósito Central de Valores (DCV) formalizes the release to the market of the Forward Service phase 2, intended specifically for Mutual Funds Administrators, as highlighted by the Commercial Director of DCV, Juan Carlos Melys.
DCV Registros Service Manager Claudio Garín, regarding the results from the shareholders’ satisfaction survey performed in 2013 by the external company Adimark (an entity that specializes in Market Research and Public Opinion) to the shareholders of this subsidiary of Depósito Central de Valores (DCV), stated that “Within the in-person channel we have reached satisfaction levels above 85% and the real challenge is to keep it up”.
With the purpose of providing a services infrastructure with the highest levels of security and quality, Depósito Central de Valores (DCV) has released to the market the first stage the automation of the International Operations Registry, which until now was carried out through a physical form called FROI.
dcvIn order to continue to grow and strengthen its presence in the Chilean and international financial market, Depósito Central de Valores (DCV) “is working intensely to be part of the FATCA Compliance entities”, assured the Supervisor of Operational Risk and head of the DCV-FATCA project,Clementina Torres.
Depósito Central de Valores (DCV) will start a new process of awareness for collaborators in operational continuity framed within the Business Continuity Management System BCMS), as indicated by André Medel, the entity’s Business Continuity Official, who also next to include the entire company as it will help us all know how to react, what to do, and what to say or not to say”.
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Depósito Central de Valores (DCV) will start a new process of awareness for collaborators in operational continuity framed within the Business Continuity Management System BCMS), as indicated by André Medel, the entity’s Business Continuity Official, who also next to include the entire company as it will help us all know how to react, what to do, and what to say or not to say”. Even though continuity issues have been a continuous preoccupation and resources have been allocated since the start of the company, we could say that the Business Continuity Management System appeared as such by late 2009, where DCV hired an external company to help it structure the information that until that time was not aggregated and to develop the crisis management and disaster recovery plan.
After this process, during the following years 2010, 2011 and 2012 the plan has been continuously strengthened. DCV has committed its efforts to developing prevention, containment and recovery strategies which help provide efficiency and competence to the entity to continue operating or to recover, regardless of the incident. Now, in 2013, a new challenge appears which is to sensitize the entity’s collaborators to know how to react in the event of a major incident. “Our people know that the company does not improvise in continuity matters, that there are emergency committees and that they need to follow the instructions in the event of an incident; what we want now is to disclose the work we have been doing”, said Medel. In turn, the Head of Internal Communications and Administration, Erika Barrios, said “DCV is in the process of training and sensitizing the entire personnel, involving each of the operational continuity collaborators so that this issue becomes part of our way-of-doing-business culture”. In order to achieve this objective, the Communications area of the Personnel Sub Management is working in this awareness process through the “development of an Internal Communications Protocol in the Event of Crisis or Disaster, which will be delivered to all DCV collaborators. In turn, and following the international trend of incorporating creative ways to sensitize, an interactive video is being customized to DCV, which communicates to collaborators what to do and not to do in the event of a crisis in a ludic and simple way. Finally, there will be work on Media Training exercises with a specialized professional who will prepare spokesmen and other key positions so that they know how to react in the event of interaction with the press or clients of the company”, explained Barrios. The Business Continuity Official also added “everyone who works in DCV must know the new Internal Communications Protocol in the event of Crisis that has been designed, particularly our collaborators who are in the first line of contact with the market (suppliers, clients and regulators). In all its projects, Depósito Central de Valores works in conformity with the provisions set forth by the law, and therefore, it is important to mention that the BCMS strengthens its governance and commits its efforts under a catastrophe within the framework of the BS 259999 standard (as of May 2014 this standard will change to ISO22301), which provides the guidelines on international best practices in respect of business continuity. To develop prevention, containment and recovery strategies, DCV utilizes tools such as: Business Impact Analysis (BIA), Business Continuity Plan (BCP), Crisis Management Plan and Disaster Recovery Plan (CMP-DRP) and the Incident Management Plan (IMP), among others. Finally, Medel added that the business continuity is a strategic pillar of Depósito Central de Valores, whose goal is to “be the last component of the financial system to stop working and the first one to recover”, whichever the incident or catastrophe. DCV Noticias |
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