Istanbul, Turkey


  • Treasury Management; Trading / Asset & Liability Management1: money market, repo, forex, fixed income, market / credit derivatives, emerging market trading, asset & liability management, market / rate / volume modelling, funds transfer pricing, treasury accounting.

  • Treasury Strategy / Financial Engineering / Structured Products / Risk Management1: portfolio construction, trading, pricing and hedging strategy, continuous time finance & asset pricing, simulations, structured products, documentation, value at risk, risk & return optimization, RAROC.

[1]   Metin Kilic's models on these topics are available for downloading at



Senior Vice President, Garanti Bank, Treasury Strategy & Corporate Treasury, Istanbul                  04/05 - present

  • Overview: Heads the Department in charge of formation of the Bank’s Treasury strategy and management of the Bank’s Corporate Treasury

  • Treasury Strategy: Works closely with Executive Vice President for building trading, investment and funding strategies; pricing and analyzing complex deals; financial-engineering transaction structures; performing risk & return and portfolio optimization analyses; and quantifying asset and liability management framework. Designs, develops and implements sound quantitative analyses ensuring that high quality, timely and critical pricing, trading, hedging, risk and performance analyses are available. Advises and coaches dealers.

  • Corporate Treasury: Treasurer of the Bank’s Corporate Treasury. Manages the department conducting treasury functions of the Bank’s financial subsidiaries. Daily activities incorporate all typical treasury activities of a financial institution including (i) securities, FX and derivatives trading, (ii) MM and repo transactions, and (iii) hedging.

Vice President, Garanti Bank, Treasury, Istanbul                                                                                              12/01 - 03/05

  • Pricing, Financial Engineering & Quantitative Strategies: Ensured continual improvement of analytical approaches for pricing, trading, hedging, risk management and performance assessment through simulations and parametric models within financial engineering framework. Monitored and computed duration, convexity, swap, credit and option adjusted spread of fixed income securities to guide dealers on relative value trading and portfolio allocation. Calculated market implied default probabilities. Monitored emerging and G7 markets, and ROT securities and FX closely and advised trade opportunities and hedge alternatives promptly. Built models to quantify the basis and credit risk of the fixed income portfolio. 

  • Asset and Liability Management (ALM), Portfolio Analytics & Asset Allocation: Set up portfolio risk & return / funding cost optimization models and conveyed risk adjusted return analyses; RAROC, ROE; for trading, ALM and funds transfer pricing. Conducted a wide range of ad hoc analyses on ALM; asset allocation / funding segmentation. Modeled term structure of interest rates, rate and volume of B/S & I/S items, carried net interest income and net economical value at risk analyses. Guided on interest rate and liquidity risk management. Member of “ALM Project” team. 

  • Derivatives & Structured Products: Priced / initiated structured products and transactions employed for trading, B/S management, market & credit risk management and BIS capital relief. Priced structured products and derivatives in areas of fixed income, FX and credit. Proficient in credit derivatives pricing (TRoRS, CDS, CLN, and etc). Tracked basis between spot and credit derivatives markets to identify trade opportunities and hedge alternatives. Also acquainted with the documentation of structured products and transactions; ISMA, ISDA, CSA and OSLA

  • Risk Management & Benchmarking: Originated projects dealing with the trading portfolios’ market risk, capital adequacy, liquidity, earnings, and profitability. Computed VaR of trading desks, ran scenario analyses and stress loss tests. Also conveyed same analyses for market benchmarks for performance comparison. Explored P&L and positional impacts of market movements. Budget trading risk. Quantified portfolio size and stop-loss limits, monitored breaches. Guided traders on risk, P&L and limit utilization. Advised hedging alternatives through market traded and/or synthetic products created via neutralization of greeks. Member of “Market Risk Committee”. Member of “Liquidity Crisis Management” team

  • Treasury Accounting & Middle Office: Had hands-on experience in accounting of treasury products regarding IAS and Turkish Accounting Standards. Developed the bank’s securities system utilizing different valuation techniques for IAS defined portfolios (AFS, OL&R, H to M, Trading). Laid out and sketched the deal flows and business processes of Middle Office together with FO, BO, ICU, FI and Accounting. Designed models and systems for proofreading, on/off market price checking, counterparty limit controlling

 Dealer, Ottoman Bank, Treasury, Istanbul                                                                                                    04/00 - 12/01

  • Led financial engineering and risk management in treasury department. 
  • Developed the valuation and hedging schemes of derivatives.  
  • Designed structured products for high yield Corporate and Private Banking clients.
  • Computed and monitored greek hedges, and through "Value at Risk" analysis and "RAROC", provided critical guidance on the optimization of the risk & return profiles of the bank's portfolios.
  • Excelled at a wide range of financial engineering methodologies and their real life applications. Built own Excel models on continuous time finance & asset pricing; asset & liability management, portfolio risk & return optimization, VaR & market risk management 

Senior Financial Analyst, Alpha International, Inc., Washington, DC                                                     01/99 - 01/00

  • Structured the model fixed income and equity portfolios as the quantitative researcher. 
  • Actively participated in all phases of equity / fixed income research. 

Financial Analyst, Merrill Lynch, Arlington, VA (Co-Op)                                                                            08/98 - 12/98

  • Exposed to the management of the risk and return structure of the private client portfolios regarding to the modern portfolio theory and clients' risk preferences. 
  • Practiced client relationship management strategies.    

Treasury Dealer, Demirbank Management Trainee, Demir Investment, Istanbul                                09/95 - 07/97

  • Experienced in all typical treasury functions. 
  • Managed the cash flow of the institution. 
  • Obtained fixed income broker certificate.
  • Conducted the daily settlements of mutual funds. Prepared market performance reports. 

Financial Analyst, Mirtur Construction Co., Ankara                                                                                    06/93 - 07/94

  • Performed feasibility analyses (NPV, IRR and Cost/Benefit) of projects. 
  • Developed a new project cash flow management system for the company.     
[1]    Follow this link to view & download Metin Kilic's models. (Term Structure Modelling & Balance Sheet Simulation, Option Pricing under Stochastic Volatility and Interest Rates, Value at Risk Models, Credit Risk & Default Probability Modeling, Credit Default Swap Valuation, Credit Linked Note Valuation, Monte Carlo Simulations, Jump Diffusion Process, Greek Neutral Trading, Risk and Return Optimization in Portfolio Management (RAROC), Risk & Return Optimization in Project Selection)
  • MBA in Finance & Investments, The George Washington University2                                    05/99
  • MSc in Project Management, Istanbul Technical University3                                                 08/95
  • BSc in Civil Engineering, Istanbul Technical University3                                                       05/93
[2]   International Finance & Banking Department of G.W.U. was ranked at top 20 during grad school year. (US News, MBA Specialty Rankings, 1999)  
[3]    I.T.U. is the largest and the oldest technical institution in Turkey. 
  • Financial Markets Research Institute, "Excellence in Finance" Award. 
  • Honoree of "Beta Gamma Sigma", National Honor Society of USA, with 3.83 GPA. 
  • Graduated with distinction from "Master of Science in Project Management" with 3.75 GPA. 
  • Completed "Bachelor of Science in Civil Engineering" in top 3%. 
  • Financial Statement Analysis & Stock Valuation
  • Investment Analysis and Modern Portfolio Management
  • Istanbul Stock Exchange, Fixed Income Broker Certification Training (like Series-7)
  • Central Bank Balance Sheet, Balance of Payments and Their Effects on Market Rates
  • Asset & Liability Management and Hedging Techniques
  • Foreign Exchange Markets and Treasury Simulation
  • Derivative Applications & Financial Engineering 
  • Continuous Time Finance & Asset Pricing


View & Print Metin Kilic's Resume in MS-Word Format


Metin Kilic's Models

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