INDEX CEO S LETTER 2 MICHAEL PAGE 3 PRELIMINARY NOTES 4 INDEX 5 OUR OFFICE 20

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1 SALARY SURVEY 2017 BANKING & Worldwide leaders in specialist recruitment

2 CEO S LETTER Dear Customers, We are pleased to present our Salary Surveys for 2017 as Michael Page. The aim of our survey is to determine true matching with the salary levels available and the appropriate profiles correctly. In addition to this, we are trying to make the necessary referrals for both our clients and candidates about a very delicate subject salary issues to construct a bridge between this triangle environment. With our detailed report, we believe that we can present a vantage point for labour and salary expectations for the current market trends. Michael Page Turkey, as gaining an excellence experience such in a short period of time in 9 years, for our candidates we are trying to give our service as being a consultant and a partner of solution as well (to make career guidance, prepare and negotiate interviews, etc.). On the other hand, the most important feature that differentiates us from our competitors, Michael Page conducts market surveys for its customers and responds to customer needs at the fastest way. We would like to thank everyone who contributed to this survey and we hope it comes to attempting to take advantage of the best degree. To get more detailed information on the subject and to find answers to your questions, our consultants would be very happy to help you at any time you need. Hugo Campo Genel Müdür 2

3 MICHAEL PAGE Michael Page Turkey, from the beginning of 2008, offers a specialist recruitment consultancy service. Our experience and extensive knowledge of the sectors is the key success of recruiting the most appropriate candidates for our clients. Sectoral areas of activity are as follows: Finance Sales and Marketing Engineering & Manufacturing Supply Chain Retail Human Resources Technology Banking & Insurance Executive Assistants & Office Support Real Estate & Construction Healthcare & Life Sciences 3

4 PRELIMINARY NOTES Michael Page Banking, recruits for the banking sector and started its operations in Turkey in With experienced consultants specializing in their fields of service we offer our customers high value. Thanks to each of the services we offer to our customers, we are able to have a deeper knowledge and more professional skills. In the mean time, day by day, we have a chance to add more references to our portfolio and to give more detailed briefs to our customers. With the help of our Salary Survey that we present, we are pleased to offer thanks our clients and candidates that we are in contact with candidates for their knowledge that they share with us. The information contained in this study, was created using the resources mentioned below. An extensive data base of applicants and employees in the financial sector Internet Ads Written Press In this survey, the specific needs of each position are determined by their own dynamics methodologies. For each professional profile analysis, the main criterias are at the below; Hierarchical Dependency Areas of responsibility Profile (education, skills and experience) Developed specifications for a career Salary We hope you can use this survey as a source of recruiting period. Notes on salary levels: AGS: Annual Gross Salary (Salary Payments that are shown in the tables are made by considering Turkey and they are given in TRY) 4

5 INDEX CEO S LETTER 2 MICHAEL PAGE 3 PRELIMINARY NOTES 4 INDEX 5 FINANCIAL REPORTING/ FINANCIAL CONTROLLING 6 CREDIT MONITORING AND COLLECTIONLLECTION 7 CREDIT RISK 8 MARKET RISK 9 INTERNAL AUDIT 10 COMPLIANCE AND REGULATION 11 STRATEGY 12 OPERATIONS 13 TREASURY 14 CORPORATE BANKING 15 CORPORATE FINANCE 16 STRUCTURED FINANCE 17 EQUITY RESEARCH 18 PRIVATE EQUITY 19 OUR OFFICE 20 5

6 BANKING & FINANCIAL REPORTING/ FINANCIAL CONTROLLING Financial Reporting professionals are assisting the Finance Manager in preparation of the financial statements according to IFRS. For companies in financial services in Turkey BRSA reporting is crucial. Financial Reporting professionals are executing the relations with the external auditors and BRSA while preparing quarterly BRSA reports. One of the main responsibilities of financial controllers are preparing weekly-monthly Central Bank reporting. Financial reporting professionals are working in collaboration with other finance department professionals and financial controllers are supporting the finance team in other intercompany concerns. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 6

7 BANKING & CREDIT MONITORING AND COLLECTIONLLECTION Credit Monitoring and Collection professionals reviews of credit application and provides independent opinions or recommendations. Credit Monitoring and Collection professionals main responsibilities are: Monitor of early warning parameters, analysis of quarterly performance, undertaking close watch; Supervision conduct of covenant monitoring process; Conduct / supervise credit rating process; Monitor the legal process; Provide early-warning reports; Maintain quality of loan proposal documents. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 7

8 CREDIT RISK Risk Reporting is responsible for independently verifying and compiling the bank s risk numbers.the extent of the responsibilities of this department will vary from bank to bank, but will normally include the consolidation and reporting of all market risk and operational risk numbers. The Credit Department is also sometimes viewed as Middle Office though for the sake of this exercise it has been included below as back Office. Credit risk professionals support local oversight of credit, market and operational risk through the deployment of internal controls, group policies and procedures. Credit risk analysts/associates provide support to Senior Risk Manager of Bank in measuring, monitoring, controlling and reporting of the risks,recording of limits and receiving securities in local banking system of Bank. Credit risk professionals control all utilisations versus approval conditions and control of all security documentation,with keeping updated position of the Bank s total risk portfolio. Credit risk professionals are responsible for monitoring and preparing periodic reports on the breakdown of risk portfolio,with maintaining individual credit files for each client. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 8

9 MARKET RISK The Market Risk team is part of the Financial Risk department. The team is specialized in financial risks and balance sheet management. Market risk professionals are ensuring all existing and potential P&L drivers. The Market Risk team contributes to the annual process of translating the risk appetite framework into concrete market risk limits. Market risk professionals challenge and debate existing risk/valuation methodologies and control frameworks providing proposals for improvement. Market risk professionals are running of risk models and production of market risk metrics (MVaR, stress testing) and providing explanation of why these numbers have changed. Market risk professionals are actively engaging with the front office to understand the trading strategies underpinning the risk that is being measured. Market risk team are staying current on market dynamics, strategies being traded and their potential risks. Market risk professionals are responsible in sizing risk limits appropriate to firm risk appetite set at the board level. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 9

10 INTERNAL AUDIT Internal audit professionals are responsible to review the quality and effectiveness of the controls within the banks to manage risk and protect the asset of the bank. Internal audit professionals are responsible to design periodic and ad hoc Accounting, Reporting, Treasury process controls over Risk Control Matrices in order to identify risks and executing required controls in order to find out the risks and to minimize such risks. Ensuring that the information obtained within the Bank is reliable, complete, traceable, consistent, in a suitable format and character to meet the requirement, and is accessible by relevant units and personnel in a timely manner; the integrity and reliability of the accounting and reporting systems; that all activities which the Bank carries out are in compliance with the Law and other applicable legislation, with the internal policies and rules of the Bank, and with banking practices. Internal audit professionals are responsible for planning, arrangement, follow-up and coordination of internal control activities to be carried out in accordance with the related decisions and directives of the reporting body with participating on Monthly Balance Sheet Review Committee as a member and providing that the internal control reports are in line and sufficient with the needs and standards by means of scope and quality. Internal audit professionals are responsible for presenting the reports prepared as a result of internal control activities and to sending suggestions to departments, branches and top managements if needed, and to follow corrective actions with regard to internal control findings while evaluating the compliance and adequacy of controls. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 10

11 COMPLIANCE AND REGULATION Compliance and regulation professionals are managing regulatory risk and embedding a strong and cohesive risk management culture across the company. Compliance and regulation professionals monitor compliance risk in the assigned focus area, and communicate information to Compliance management and lines of business. Compliance and regulation professionals are responsible for monitoring and reporting risk associated with new or revised deposit products and services and monitoring key metrics associated with the bank s retail product offerings. Compliance and regulation professionals are enabling effective management of risks within the company s risk management framework and handling financial crime related responsibilities and that adequate compliance monitoring arrangements with the regulation are in place. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 11

12 STRATEGY To frame the company s strategy for banking businesses is the main resposibility for Strategy professionals. These professionals identify key trends and strategic scenarios. Strategy professional s other responsibilities are: Conduct financial analysis and forecast of bank s performance using analytical methods on bank KPIs and macroeconomic modeling; Perform external research when needed on the sector evolution, innovation ideas, competition analysis; Prepare business cases for different alternatives of the strategic projects; Take active role in definition and management of the strategic projects; Provide a strategic assessment of the business (capabilities versus potential), both monitoring short-term and long-term performance and conditions. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 12

13 OPERATIONS Operations Department s general objectives are: To organize the workflow within the department and other relevant Group / Department meetings, To follow the international and local foreign trade legislation, to ensure the update of the Bank s internal procedures in terms of changing legislation, Operational issues and solve problems encountered answered questions regarding the operation from other departments and branches to ensure Subjects needed to prepare or to prepare training manuals, Branch or the relevant Group / departments / units, if requested, to inform the customer about the topic of participating in negotiations, if necessary, to participate in the discussions about the branch responsible for foreign trade transactions to ensure that, If necessary, in coordination with the Department of Human Resources informative seminars on the subject of internal and external customers to perform With regard to legal authorities in the requested information and documents of the Department, complete and submitted in a timely manner fair to take the necessary measures to supervising, The task is to propose quality improvement on all of the Bank s scope of responsibility, Department of detected errors quality improvement groups and the establishment of the solution or to lead teams to develop solutions for the application to track and monitor the results of the projects, Department for follow-up on all the structures to be measured and managed to ensure the establishment and reporting infrastructure to co-ordinate this work, Senior management, periodic summary reports on the Department to prepare management reports of monitoring to ensure the necessary actions are taken, The Bank is responsible for strategy and business units to analyze and evaluate the effects of sub-groups. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 13

14 TREASURY PROFİL Treasury manager is accountable for measuring, identifying, monitoring, and analyzing the funding risk positions and maintain accuracy of overall system of transactions. Treasury professionals lead all banking relationships, establish and implement relevant cash management policies and participate treasury projects. Treasury professionals are responsible for risk management, ensuring internal & external reporting with timely and accurate production and analysis of monthly liquidity measurements, liquidity transfer pricing charges and structural cash position. Treasury professionals assist development and maintenance of Liquidity and Funding Policy/Standard/Mandate and Contingency Funding Plan & associated stress scenario descriptions and assumptions with monitoring and measuring liquidity and funding requirements and ensure standards. Treasury professionals provide data to regulators and response to inquiries into BFC s liquidity and funding function and respond to Regulator questions and concerns regarding liquidity guidelines and policy requirements. Treasury professionals support projects throughout the organization acting as a subject matter expert on liquidity to assist where needed while analyzing monthly changes in liquidity and creating the Monthly Funding & Liquidity Guidelines. Treasury professionals monitor and track the performance of Bank Owned Life Insurance policies and lead liquidity and funding data retrieval and establish data criteria associated with systems integration. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 14

15 CORPORATE BANKING The banks have continued to maintain their sector focused corporate banking relationship managers. Corporate Banking Professionals are responsible for originating, maintaining and developing relationships in the corporate market. These professionals main responsibilities are: Manage a corporate loan book; Cross sell Structured Trade & Commodity Finance, Treasury and Payment products; Negotiate terms and conditions and prepare credit applications for new loan facilities for Corporate Banking clients; Promote the bank s services; Develop and maintain management reporting. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 15

16 CORPORATE FINANCE Corporate Finance professionals are working closely with clients at senior levels. These professionals are usually advising about how to meet targets and create investment capital. Corporate Finance professionals main responsibilities are: Develop and manage existing complex financial models for financial analysis of investment properties, debt transactions and other structured finance transactions; Manage corporate financial models into executive level summaries/analysis for presentations and review purposes; Provide investment advice, tactics and recommendations; Assess and predict financial risks and returns; Prepare legal documents and prospectuses. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 16

17 STRUCTURED FINANCE Structured Finance has became one of the growth areas across the complete spectrum of banking. Most of the banks started to establish their team in order to focus on Structured Finance. Structured Finance professional s main responsibilities are: Give input into the structure of the transaction from both a Trade Finance technical perspective and alignment to the monitoring and transaction management capabilities of the transaction management team; Arrangement of funding over the duration of the transaction; Manage and maintain internal relations with key stakeholders including credit, legal, credit risk monitoring, operations, finance, compliance, exchange control, treasury and originators; Management of collateral; Create loan accounts and ensuring that the loans are set up in accordance with the terms of the facility. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 17

18 EQUITY RESEARCH Equity Research professionals play a significant role in putting together the research reports and other information that investors receive on stocks, bonds and mutual funds. Equity Research professionals main responsibilities are: Communicate with institutional clients and internal clients to convey investment recommendations and ideas; Analyze market data to assess and describe current and long term trends; Conduct extensive valuation analysis on stocks within the sector; Closely follow and understand credit market activity; Attend client meetings. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 18

19 PRIVATE EQUITY In the traditional Private Equity space, the mid market funds have done more hiring. We expect clients to continue to employ candidates who can help drive operational improvement in portfolio companies. Private Equity professional s main responsibilities are: Play an integral and active role in helping fund raise for private equity s clients; Prepare marketing material and documentation ready for fund raise; Liaise closely with the clients (PE funds) and the LP s who invest in them. 4-7 Years TL TL 8-12 Years TL TL > 13 Years TL TL 19

20 OUR OFFICE İSTANBUL İstanbul Büyükdere Cad. Kanyon Ofis Binası No:185 Kat: Levent-İstanbul Tel. +90 (212) Faks +90 (212)

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