Yerulan Zhamaubayev was born on 25 March 1974 in Almaty region.

He received his degree in Finance and Credit from Kazakh State Academy of Management (1995), a Strategic Management degree from International Business School at the Kazakh Economic University named after T. Ryskulov (2009).

Between 1998 and 2006, Yerulan Zhamaubayev held various positions at the National Bank of Kazakhstan.

During the 2006 – 2014 period he served as Director of the Coordination Department at the National Bank of Kazakhstan.

From 2014 to 2015, Managing Director of Housing Construction Savings Bank of Kazakhstan JSC.

In 2015, he held the position of Deputy Head of the Socio-Economic Monitoring Department at the Presidential Administration of the Republic of Kazakhstan.

From 2015 to 2018, Head of the Socio-Economic Monitoring Department at the Presidential Administration of the Republic of Kazakhstan.

From 2018 to 2019, he served as Assistant to the President of the Republic of Kazakhstan.

Between 2019 and 2020, Yerulan Zhamaubayev worked as the Executive Secretary of the Ministry of Finance of Kazakhstan.

From 2020 to 2021, Minister of Finance of Kazakhstan.

From 2022 to 2024, Deputy Prime Minister – Minister of Finance of Kazakhstan.

From 2024 to 2025, Advisor to the President of the Republic of Kazakhstan.

On 17 February 2025, Yerulan Zhamaubayev was appointed First Deputy Governor of the National Bank of Kazakhstan by the Presidential order of the Republic of Kazakhstan. 

Awarded the Order of ‘Kurmet’ (Order of Honour), ‘Eren enbegi ushin’ (For distinguished labour) medal, ‘For contribution to the development of the Eurasian Economic Union’, jubilee medals.