Table of Level of Experience Necessary for Job Titles Requiring Licenses

Below is the table showing the level of experience, which is a condition determined in the Communiqués of Capital Markets Board, sought for the personnel working at various positions and titles in capital markets.
 

JOB TITLES AND JOB POSITIONS REQUIRED LICENSE CERTIFICATES AREA AND PERIOD OF EXPERIENCE SOUGHT FOR AS A CONDITION PRECEDENT RELEVANT LEGISLATION
INTERMEDIARY INSTITUTIONS      
General Manager Capital Market Activities Level 3 License Certificate (for partially or widely authorized intermediary institutions) Must have a minimum past experience of 7 years in financial markets or business administration fields. Article 14 of the Communiqué on Principles Regarding Foundation and Operation of Investment Firms (III-39.1)
Deputy General Manager Capital Market Activities Level 3 License Certificate (for partially or widely authorized intermediary institutions) Must have a minimum past experience of 7 years in financial markets or business administration fields. Article 14 of the Communiqué on Principles Regarding Foundation and Operation of Investment Firms (III-39.1)
Portfolio Brokerage Unit Manager (Department Head) Capital Market Activities Level 3 License Certificate
(If the unit will deal with derivative instruments transactions, a Derivative Instruments License is required to be held.)
Must have a minimum past experience of 5 years in financial markets. Article 23 of the Communiqué on Principles Regarding Investment Services and Activities and Ancillary Services (III-37.1)
Portfolio Manager (Individual) Capital Market Activities Level 3 License Certificate
(If the unit will deal with derivative instruments transactions, a Derivative Instruments License is required to be held.)
Must have a minimum past experience of 5 years in financial markets. Article 39 of the Communiqué on Principles Regarding Investment Services and Activities and Ancillary Services (III-37.1)
Investment Advisor Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 3 years in financial markets. Article 47 of the Communiqué on Principles Regarding Investment Services and Activities and Ancillary Services (III-37.1)
Inspector / Inspection Unit Manager (Department Head) Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 3 years in capital markets, accounting, tax, bank and foreign exchange, information systems audit, business administration analysis, organization, audit or law fields. Article 16 of the Communiqué on Principles Regarding Internal Audit System To Be Applied in Intermediary Institutions, Serial V, No. 68
PORTFOLIO MANAGEMENT COMPANIES      
General Manager Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 7 years in financial markets. Article 20 of the Communiqué on Principles Regarding Portfolio Management Companies and Activities of These Companies (III-55.1)
Deputy General Manager Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 7 years in financial markets. Article 20 of the Communiqué on Principles Regarding Portfolio Management Companies and Activities of These Companies (III-55.1)
Internal Control Officer Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 3 years in capital markets, accounting, tax, foreign exchange, information systems audit, business administration analysis, organization, audit or law fields. Article 11 of the Communiqué on Principles Regarding Portfolio Management Companies and Activities of These Companies (III-55.1)
Portfolio Manager (Individual) Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 5 years in financial markets. Article 39 of the Communiqué on Principles Regarding Investment Services and Activities and Ancillary Services (III-37.1)
Portfolio Manager (Individual – In the case of derivative instruments transactions) Capital Market Activities Level 3 License Certificate and Derivative Instruments License Certificate Must have a minimum past experience of 5 years in financial markets. Article 39 of the Communiqué on Principles Regarding Investment Services and Activities and Ancillary Services (III-37.1)
Investment Advisor Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 3 years in financial markets. Article 47 of the Communiqué on Principles Regarding Investment Services and Activities and Ancillary Services (III-37.1)
Risk Management Unit Personnel Capital Market Activities Level 3 License Certificate and Derivative Instruments License Certificate Must have knowledge and experience adequate for risk control transactions. Article 12 of the Communiqué on Principles Regarding Portfolio Management Companies and Activities of These Companies (III-55.1)
Fund Manager Capital Market Activities Level 2 License Certificate Must have a minimum past experience of 7 years in capital markets. Article 20 of the Communiqué on Principles Regarding Portfolio Management Companies and Activities of These Companies (III-55.1)
SECURITIES INVESTMENT FUNDS      
Portfolio Manager Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 5 years in capital markets. Article 5 of the Communiqué on Principles Regarding Investment Funds (III-52.1)
Portfolio Manager Capital Market Activities Level 3 License Certificate and Derivative Instruments License (If derivative instruments are included in the fund portfolio for hedging and/or investment purposes.) Must have a minimum past experience of 5 years in capital markets. Article 5 of the Communiqué on Principles Regarding Investment Funds (III-52.1)
FREE INVESTMENT FUNDS      
Portfolio Manager Capital Market Activities Level 3 License Certificate and Derivative Instruments License Must have a minimum past experience of 5 years in capital markets and must have adequate knowledge and experience on these funds. Article 5 of the Communiqué on Principles Regarding Investment Funds (III-52.1)
GUARANTEED AND PROTECTION ORIENTED INVESTMENT FUNDS      
Portfolio Manager Capital Market Activities Level 3 License Certificate and Derivative Instruments License Must have a minimum past experience of 5 years in capital markets and must have adequate knowledge and experience on these funds. Article 5 of the Communiqué on Principles Regarding Investment Funds (III-52.1)
PORTFOLIO CUSTODIANS      
Custody Services Unit Manager (Department Head) Capital Market Activities Level 3 License Certificate and Derivative Instruments License Must have a minimum past experience of 5 years in capital markets and/or banking field. Article 8 of the Communiqué on Principles Regarding Portfolio Custody Service and Providers of Such Service (III-56.1)
Internal Control Officer Capital Market Activities Level 3 License Certificate and Derivative Instruments License Must have a minimum past experience of 3 years in capital markets, accounting, tax, foreign exchange, information systems audit, business administration analysis, organization, audit or law fields. Article 18 of the Communiqué on Principles Regarding Portfolio Custody Service and Providers of Such Service (III-56.1)
Risk Management Unit Personnel Capital Market Activities Level 3 License Certificate and Derivative Instruments License Must have knowledge and experience adequate for risk control transactions. Article 19 of the Communiqué on Principles Regarding Portfolio Custody Service and Providers of Such Service (III-56.1)
SECURITIES INVESTMENT PARTNERSHIPS (TRUSTS)      
General Manager Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 7 years in financial markets Article 17 of the Communiqué on Principles Regarding Securities Investment Trusts (III-48.2)
Portfolio Manager Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 3 years in capital markets. Article 19 of the Communiqué on Principles Regarding Securities Investment Trusts (III-48.2)
Portfolio Manager (If derivative instruments are included in the fund portfolio for hedging and/or investment purposes.) Capital Market Activities Level 3 License Certificate and Derivative Instruments License Must have a minimum past experience of 3 years in capital markets. Article 19 of the Communiqué on Principles Regarding Securities Investment Trusts (III-48.2)
Internal Control Personnel Capital Market Activities Level 3 License Certificate Must have a minimum past experience of 3 years in capital markets, accounting, tax, foreign exchange, information systems audit, business administration analysis, organization, audit or law fields. (This past experience condition is sought for also if and when the relevant personnel is recruited from outside.) Article 20 of the Communiqué on Principles Regarding Securities Investment Trusts (III-48.2)
REAL ESTATE APPRAISAL COMPANIES      
Real Estate Appraiser Real Estate Appraisal License Certificate Must have a minimum past experience of 3 years in real estate appraisal field (*)  
or
must have successfully completed the trainings and passed the examinations of these trainings organized by SPL for the sake of satisfaction of the past experience condition.
Article 3 of the Communiqué on Principles Regarding Real Estate Appraisal Service Providers and Listing of These Companies by the Board Within the Frame of Capital Markets Legislation, Serial VIII, No. 35  
and 
Resolution of the Board, no. 22/735, dated 17.07.2014
Residential Real Estate Appraiser Residential Real Estate Appraisal License Certificate Must have a minimum past experience of 1 year in real estate appraisal field (**)  
or 
must have successfully completed the trainings and passed the examinations of these trainings organized by SPL for the sake of satisfaction of the past experience condition.
Article 3 of the Communiqué on Principles Regarding Real Estate Appraisal Service Providers and Listing of These Companies by the Board Within the Frame of Capital Markets Legislation, Serial VIII, No. 35
and 
Resolution of the Board, no. 22/735, dated 17.07.2014
COMPLIANCE WITH CORPORATE GOVERNANCE PRINCIPLES RATING AGENCIES      
Rating Committee Member Corporate Governance Rating License Certificate Must have a minimum past experience of 5 years as an expert or faculty member, academician or manager in at least one of economy, finance, accounting, fiscal, audit, internal control, statistics, risk assessment and management, financial analysis, rating, assessment and corporate governance fields or any one of areas of law relating to these fields. Article 10 of the Communiqué on Principles Regarding Rating Activities and Rating Agencies in Capital Markets, Serial VIII, No. 51
Rating Expert Corporate Governance Rating License Certificate Must have a minimum past experience of 3 years as an expert or faculty member, academician or manager in at least one of economy, finance, accounting, fiscal, audit, internal control, statistics, risk assessment and management, financial analysis, rating, assessment and corporate governance fields or any one of areas of law relating to these fields. Article 10 of the Communiqué on Principles Regarding Rating Activities and Rating Agencies in Capital Markets, Serial VIII, No. 51
CREDIT RATING AGENCIES      
Rating Committee Member Credit Rating License Certificate Must have a minimum past experience of 5 years as an expert or faculty member, academician or manager in at least one of economy, finance, accounting, fiscal, audit, internal control, statistics, risk assessment and management, financial analysis, rating, assessment and corporate governance fields or any one of areas of law relating to these fields. Article 10 of the Communiqué on Principles Regarding Rating Activities and Rating Agencies in Capital Markets, Serial VIII, No. 51
Rating Expert Credit Rating License Certificate Must have a minimum past experience of 3 years as an expert or faculty member, academician or manager in at least one of economy, finance, accounting, fiscal, audit, internal control, statistics, risk assessment and management, financial analysis, rating, assessment and corporate governance fields or any one of areas of law relating to these fields. Article 10 of the Communiqué on Principles Regarding Rating Activities and Rating Agencies in Capital Markets, Serial VIII, No. 51

(*) Within the frame of regulations of the Board, a person who is graduated from at least 4-years university, and has passed the Real Estate Appraisal License Examination, but does not meet the past experience condition sought for in a real estate appraiser may also complete the minimum past experience condition by working in appraisal activities as an Assistant Expert in appraisal companies without a signature authorization.

(**) Within the frame of regulations of the Board, a person who is graduated from at least 4-years university, and has passed the Residential Real Estate Appraisal License Examination, but does not meet the past experience condition sought for in a real estate appraiser may also complete the minimum past experience condition by working in appraisal activities as an Assistant Expert in appraisal companies without a signature authorization.