Timur Omarov

As the overseer of activities and operations within the domain of asset management for Foreign Exchange Assets of NBRK and the National Fund of the Republic of Kazakhstan, my role encompassed the following key functions:

• Formulating, executing, and refining the investment strategy for Foreign Exchange Reserves and the National Fund, Designing investment strategies
• Monitoring and controlling guaranteed and targeted transfers from the National Fund to the Republican Budget, Managing the conversion of foreign assets into Kazakhstan tenge
• Analyzing Long Term Capital Market Assumptions (LTCMA) and devising an optimal Strategic Asset Allocation (SAA) within the boundaries of liquidity requirements and risk-adjusted return objectives.
• Collecting, processing, and analyzing data pertaining to sub-portfolios and overall assets, including transaction accounting, risk limit oversight, return calculations, benchmark comparisons, and more.
• Assessing the distribution of assets by categories, strategies, credit ratings, geographical regions, and economic sectors. Conducting attribution and contribution analyses to evaluate the portfolios' aggregate performance.
• Compiling and furnishing both internal and external reports regarding managed assets.
• Executing operational activities for external investments, such as initiating cash and securities account setups, managing asset transfers, reconciling and confirming net asset values with custodians, etc.
• Monitoring commissions related to custodian services, correspondent banks, fund administrators, clearing brokers, and other transaction-related expenses.
• Drafting agreements with counterparties, completing Know Your Customer (KYC)/Anti-Money Laundering (AML) and tax documentation, and related administrative tasks.

Throughout these responsibilities, I ensured meticulous attention to detail, adherence to industry regulations, and effective communication with internal and external stakeholders.

Supervision of Portfolio Analysis and Reporting Division - Alternative Instruments Portfolio:

In the capacity of overseeing the entire spectrum of activities within the Portfolio Analysis and Reporting Division, specifically related to the asset management of the Alternative Instruments Portfolio of Foreign Exchange Assets under NBRK, my responsibilities encompassed meticulous management of the following key functions:

• Rigorous collection, comprehensive processing, and incisive analysis of data pertaining to sub-portfolios and the overarching alternative portfolio. This involved meticulous transaction accounting, precise profitability calculations, and methodical benchmark comparisons.
• Methodical analysis of the distribution of client assets across varied categories, strategies, credit gradations, geographical regions, economic sectors, and managerial dimensions. This scrutiny extended to evaluating the contributory role of funds and strategies in the portfolio's cumulative performance.
• Streamlining and furnishing both comprehensive internal and external reports, which included the formulation of consolidated financial statements for specialized purpose entities.
• Continuous monitoring of commissions pertinent to external managers, administrators, auditors, and associated transactional expenses.
• Diligent execution of operational intricacies linked to external investments, encompassing fund transfers, meticulous reconciliation, and the confirmation of net asset values in alignment with custodians and administrators.
• Conducting exhaustive operational due diligence exercises on hedge funds and external managers, with a simultaneous focus on monitoring their operational endeavors.
• Deliberating and formulating the most optimal approach for structuring investment infrastructure, placing particular emphasis on aspects of tax optimization and jurisdictional considerations.

Throughout these multifaceted responsibilities, I maintained a steadfast dedication to precision, regulatory compliance, and effective communication with both internal and external stakeholders. My role was pivotal in ensuring the successful orchestration of intricate operational dynamics within the realm of alternative instrument portfolio management.

Supervision of Islamic Finance Development Initiatives:

In this role, I oversaw the strategic implementation of Islamic finance development goals, providing methodological and regulatory support to NBRK's policy in this domain. My contributions included:

• Offering expert consultation and methodological guidance for crafting financial instruments aligned with Islamic finance principles.
• Vigilantly monitoring and analyzing global regulatory approaches and standards governing Islamic financial institution activities.
• Collaborating with international consultants and experts to address regulatory, control, and supervision matters concerning Islamic financial entities.
• Facilitating the introduction and advancement of Islamic banking products and financial instruments.
• Advocating for the removal of legal obstacles to foster Islamic banking growth, while also working on legislative conditions for Islamic insurance (takaful) and securities issuance.
• Supporting the organization of international conferences and seminars on Islamic finance, aimed at attracting investors from Islamic countries and bolstering Kazakhstan's image as an Islamic Financial Centre.

Throughout, I remained steadfast in promoting the principles of Islamic finance, fostering international collaboration, and enhancing Kazakhstan's standing in the Islamic finance arena.

Oversight of Development Initiatives for Enhanced Financial Literacy:

In this role, I assumed responsibility for orchestrating and harmonizing efforts to cultivate and execute strategies aimed at elevating the investment culture and financial literacy of the populace. This encompassed:

• Publishing informative brochures and instructional manuals elucidating fundamental principles of financial literacy. This initiative aimed to heighten public consciousness of financial instruments, fostering wider financial inclusion across both the general population and younger demographics.
• Spearheading the establishment and maintenance of the educational web portal www.fingramota.kz.
• Active participation in information campaigns aligned with the People's IPO program, contributing to the dissemination of essential financial information.
• Proactively promoting the RFCA (Regional Financial Center of Almaty) and orchestrating events such as exhibitions, roundtable discussions, and conferences.
• Playing a pivotal role in the progression of Islamic finance, inclusive of vigilantly monitoring the realization of the Islamic finance development Roadmap.

Throughout, my focus remained on enriching financial knowledge, enhancing accessibility to pertinent resources, and advancing the economic well-being of the population through informed decision-making.