Ilia Galabov, National Bank of Bulgaria

What are the top three reasons your institution joined RAMP?

As one of the first members of RAMP, we joined in 2001 and remain a member for many reasons. First, we have access to resource-intensive investment strategies in accordance with best practices, and we use external managers to compare our internally managed investment portfolios. Second, through our RAMP membership, we minimize our infrastructure costs and reduce overall staffing requirements and the risk of staff turnover. Third, we acquire specialized training, skills and knowledge through the expertise of RAMP.

What do you like most about RAMP?

We value the transfer of knowledge and skills the most. Building skills internally is usually a long and expensive process, while support from an external partner like the World Bank speeds up the overall learning process and opens a window to the most advanced market practices.

What lesson have you learned from another RAMP member institution?

One of the most valuable aspects of being a RAMP member is its global network. Through workshops, webinars and other training events, we have met many other colleagues at the central bank. In one case, through this network, we learned to explore new investment strategies and start investing in new asset classes, such as futures.

What is your favorite RAMP resource?

My favorite resource is the RAMP Advisory Service, which shares with us the financial knowledge and expertise of World Bank experts and external consultants. RAMP’s one-on-one consultations and on-site visits by World Bank Treasury specialists help us prioritize and strategize for our reserve management needs.

What is your favorite workshop?

My favorites include the Advanced Credit Risk workshop as well as the Portfolio Management, Performance Measurement, Attribution and Reporting workshop.

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