The WFE's Women Leaders 2025 - Alla Li, Deputy Chairperson of Management Board, KASE Clearing Centre JSC
Name: Alla Li
Job title: Deputy Chairperson of Management Board
Organisation: Kazakhstan Stock Exchange Clearing Centre JSC (KACC)
1. Brief description of nominee’s role and job.
I serve as Deputy Chairperson of KACC, a subsidiary of the Kazakhstan Stock Exchange (KASE), the leading stock exchange in Central Asia. My primary responsibilities encompass the organisation and oversight of KACC's core functions: clearing and central counterparty risk management.
2. Short bio (career highlights, education, interests/hobbies).
I hold a master's degree in applied mathematics from Al-Farabi Kazakh National University. Prior to joining KASE, I dedicated 15 years to risk management within pension funds and second-tier banks. I actively contributed to industry advancements by participating in working groups under the Association of Financiers of Kazakhstan, focusing on enhancing risk management legislation and developing the securities market.
In 2018, I joined KASE to spearhead the introduction of the central counterparty and streamline clearing processes. I led the KASE Clearing House in 2020. The successful implementation of the central counterparty has ensured timely asset settlements for investors, fortified risk management, and enabled real-time valuation of instruments. Our robust risk management framework, developed under my leadership, effectively navigated periods of market volatility, including the COVID-19 pandemic and the geopolitical events of 2022 - 2023.
Recognising the need for enhanced risk segregation, I spearheaded the initiative to establish KACC as a separate legal entity. I was appointed to the KACC Management Board and subsequently promoted to Deputy Chairperson of Management Board in January 2024.
Beyond my professional pursuits, I cherish my role as a mother of two. Travel is a passion, and I find immense joy in exploring the world and discovering new cultures.
Awards:
* Public Medal "Yles" (2020) and Public Medal "Yenbegi Ushin" (2023) from the Association of Financiers of Kazakhstan for significant contributions to the financial sector.
* Jubilee Medal "30 Years of Tenge" from the National Bank of the Republic of Kazakhstan.
* Letters of thanks from the National Bank and the Agency for Regulation and Development of the Financial Market.
* Stella 'For Contribution to the Development of Capital Markets' from KASE.
3. What were your professional highlights and challenges of 2024?
2024 presented a series of significant challenges and accomplishments for me and my team. Firstly, we successfully transitioned all KASE markets to KACC, completing the separation of clearing and settlement activities. This strategic move aimed to create a more attractive investment environment, facilitate foreign investor participation, expand service offerings within Kazakhstan and the region, and effectively manage infrastructure risks.
Concurrently, we enhanced our risk management methodologies, including initial margin, stress testing, and clearing fund sizing, aligning them with the recommendations of Zeliade Systems following an independent validation.
Furthermore, due to the efforts of my team and myself, KACC successfully passed Thomas Murray's assessment for compliance with CPMI-IOSCO PFMI principles, achieving an 'A+' operational risk rating with a 'positive' outlook. This prestigious recognition underscores KACC's commitment to robust risk management and operational excellence.
4. Tell us about a few of your key achievements throughout your career?
A cornerstone of my career has been the development of robust risk management frameworks for financial market infrastructure and the advancement of the central counterparty within Kazakhstan. This experience has honed my professional acumen and provided invaluable insights into navigating complex and dynamic market environments. As a member of the KACC Board, I am dedicated to further enhancing Kazakhstan's financial markets by fostering transparency and clarity for regulators and market participants.
5. What and who inspires, and has inspired, you to achieve your professional success?
I am fortunate to collaborate with a team of dedicated professionals who are committed to continuous improvement and dedicated to their work and country. Their commitment inspires me daily.
I thrive on challenges and find immense satisfaction in overcoming obstacles and achieving success.
My mother and grandmother have always been exemplary models of hard work and unwavering support. The unwavering support of my family and loved ones provides me with the strength to overcome challenges and reach new heights.
6. How have you overcome setbacks, and what advice would you give to others dealing with setbacks?
I believe in the power of perseverance and the importance of setting realistic goals. While setbacks are inevitable, I view them as valuable learning experiences that provide insights for future endeavors.
My advice to others facing challenges is to remain persistent, maintain a positive outlook, explore alternative approaches, and never give up on their goals.
7. What advice do you have for other women who aspire to be in leadership positions? What is the biggest takeaway you want to leave with the reader?
Network relentlessly. Forge strong bonds with peers across your industry. Embrace feedback as a gift. Your colleagues and leaders hold valuable insights for your growth. Be a lifelong learner. The business landscape is dynamic, so continuous learning is essential. Prioritise well-being. Balance your work and personal life to prevent burnout and sustain peak performance. Believe in your unique brilliance. You possess the power to achieve extraordinary things. Remember, true leadership is about inspiring those around you. Your knowledge and passion are your most potent weapons. Conquer every obstacle with courage. Each challenge brings you closer to reaching your full potential.