Central Bank of Malta launches Corporate Strategic Plan

The Central Bank of Malta launched its Corporate Strategic Plan during a virtual event for all staff members. The Plan was launched by the Governor Edward Scicluna, Deputy Governors Alexander Demarco and Oliver Bonello, and the Chief Operating Officer Daniele Romano.

The Plan defines the main projects and key objectives, which will assist the Bank in its digital transformation strategy, to further strengthen efficiency and effectiveness, and to help the Bank mitigate the risks in today’s highly complex financial world.

The Plan was finalised through a thorough process, which detailed the CBM’s strategic objectives into divisional, departmental and office objectives, in line with the Bank’s organisational structure. It groups the Bank’s objectives and projects for the coming years in eight building blocks:

• Ensure active contribution to the European System of Central Banks, support its drives and initiatives, while participating in its fora and activities.
• Foster financial stability by strengthening the resilience of the domestic financial sector.
• Ensure smooth, functioning payment systems and a secure provision of cash.
• Continue to be a reference for economic, and financial analysis, research and statistics in Malta.
• Optimise return on financial assets under our management.
• Enhance risk mitigation and security measures, especially with respect to cybersecurity.
• Maintain strong internal governance, in full compliance with the law.
• Enhance overall efficiency and effectiveness, while actively promoting environmental awareness, corporate social responsibility, inclusiveness and diversity.

The Plan includes a vision statement for the Bank, to be an independent, credible, and innovative institution, and an employer of choice.

The Bank’s staff had the opportunity to discuss it with the Governor, Deputy Governors and management.