BCB Announces the Strategic Planning for the 2020-2023 Cycle
Source: Banco Central do Brasil
In order to ensure the fulfillment of the Banco Central do Brasil's (BCB) institutional mission concerning its functions and legal responsibilities, the Board of Governors approved the BCB's Strategic Planning for the 2020-2023 cycle, pursuant to the updated strategic guidelines: the Institutional Mission, the Vision of the Future, the Organizational Values and the Strategic objectives.
The strategic planning aims at establishing and prioritizing the focuses for the BCB's actions during the 2020-2023 Cycle, emphasizing on the accomplishment of the organization's 'Vision of the Future', namely, 'to be recognized for promoting inclusion, transparency, sustainability and competitiveness within the financial system and for stimulating citizens' financial education'.
Institutional mission and Strategic objectives
A major innovation of strategic planning for 2020-2023 Cycle is the addition of two important purposes to the BCB's institutional mission: to serve society and to promote competitiveness within the National Financial System (SFN). These purposes complement the original mission — unchanged since 2007 — of "ensuring the stability of the purchasing power of the currency and the soundness and efficiency of the SFN". Therefore, the modernized BCB's institutional mission is "ensuring to society the stability of the currency purchasing power, and a sound, efficient and competitive financial system".
The strategic objectives set for the 2020-2023 Cycle are:
- Meet the inflation targets set by the National Monetary Council (CMN).
- Maintain the national financial stability
- Facilitate access to financial markets
- Improve the transparency, quality and flow of information between the financial market and BCB.
- Promote the competitiveness within the Financial and Payment Systems
- Stimulate savings and a conscious market participation
- Promote sustainable finances and contribute to the reduction of socio-environmental and climatic risks within the economy and the Financial System
- Enhance BCB with innovations, technology and efficient use of resources.
Accountability and Agenda BC#
Strategic planning is a fundamental element of the BCB's accountability both to the external control entities and to society. In addition, it is an essential input for several internal functions, such as budget management, the development and execution of the corporate projects, as well as to the 'Plan for Information and Communication Technology' (PDTI). The strategic planning also encompasses the management of personnel, the risks related to the BCB's operations, and the corporate education actions.
In line with the institutional mission and the strategic objectives, the 2020-2023 strategic planning's focal point is the Agenda BC# — which is the BCB's medium term agenda. Specifically, the Dimensions of the Agenda BC# defines the strategic actions aiming at promoting Inclusion, Transparency, Sustainability, Competitiveness within the SFN, and the citizens' financial Education.
Collective endeavor for planning and monitoring
The materialization of the strategic planning requires the breakdown of strategic objectives into themes and actions across the Institution’s, which entails the paramount relevance of every contribution from the BCB's staff and the collaborators in the development of strategic planning.The strategic plan becomes a reality as it is carried out by each unit, each team, and each servant. As the results start to be materialized, the succeeding phase of the strategic planning is the monitoring activities, to which everyone's contribution is vital.
Organizational values
As for the current strategic cycle, the BCB's staff contributed to the definition of the 'organizational values' through a survey conducted in 2019. The values 'Excellence', 'Focus on results', 'Socio-environmental responsibility' — included in the previous cycles — were joined to the new ones: 'Integrity', 'Openness to change', and (internal) 'Cooperation' during the 2020-2023 Cycle.
Learn more
The BCB's Institutional Strategic Plan (PEI) comprises the Strategic Guidelines — established by the Board of Governors for every four-year cycle —, the Strategic Objectives, the Themes and Actions, the Value Chain, the Management indicators, and the BCB's Strategic Map. The BCB's Value chain is a management tool that indicates how the performed activities create value during the process by which BCB complies with its legal responsibilities and fulfills its institutional mission.
The BCB's 'Secretariat of Governance, Coordination and Strategic Monitoring' (Segov) is in charge of the PEI's quarterly monitoring and its annual review, while some elements of the PEI will be monitored more frequently, such as the strategic actions included in the Agenda BC#. The BCB's 'People, Education, Health and Organization Management Department' is responsible for the management of the Organizational Values and the Value Chain.
First, please LoginComment After ~