Karen Babayan was appointed Director of the Financial Stability and Regulation Directorate on December 2, 2024, concurrently serving as a member of the Executive Committee and three other key committees: Financial Stability, Regulation, Supervision and Licensing.

In this role, he provides strategic leadership and oversight for the Central Bank's functions in financial stability, financial system regulation, consumer empowerment, and financial system development.

In 2007, Mr. Babayan began his career at the Bank as a bank supervisor, a role he held until his appointment as Head of the Financial System Analysis Division in the Financial Stability Department. Prior to his return to the Central Bank, he served as Chief Risk Officer and a member of the Management Board at a commercial bank.