Senior Management


Boryana Racheva-Iotova  

Dr. Boryana Racheva-Iotova

Boryana Racheva-Iotova is a founder and President of FinAnalytica. Prior to that she co-founded and served as the CEO of Bravo Risk Management Group, the originator of the Cognity product suite marketed by FinAnalytica to-date.

Boryana has over 15 years of experience in building risk management software solutions and translating the latest academic advancements in practical applications to meet the needs of the financial industry practitioners. She started her professional path in risk management back in 1997 by developing a model for banks’ capital requirement estimation together with the Bulgarian Finance Minister. In 2000 she led the implementation of a Monte-Carlo based VaR calculation and structured products valuation engine to meet the Basel II Requirements at SGZ Bank, the third-largest cooperative in Germany. Building on that success, Boryana initiated the development and industry deployment of the Cognity product suite, which remains its flagship solution.  Boryana’s leadership in product development has positioned FinAnalytica as an award-winning Product and Innovation leader in the space servicing asset managers with trillions of AUM.  She has been serving as the President of the Company since 2008 leading the Research and Product Development, Account Management and Client Support functions. In 2014 Boryana accepted full executive responsibility for the Group.

Boryana’s numerous articles have been published by premier scientific journals. She holds M. Sc. in Probability and Statistics at the Faculty of Mathematics and Informatics, Sofia University, and Doctor of Science degree, magna cum laude from Ludwig Maximilian University of Munich.


Hank Lamour

Hank Lamour
Global Head of Sales

Hank brings over 20 years of experience delivering advanced financial technologies, best practices and related support solutions to the investor and asset management community. His area of expertise spans the full value chain on a range of technical disciplines from enterprise data management through high end quantitative analytics for risk measurement/management and portfolio construction. Hank works closely with FinAnalytica’s clients and prospective clients delivering robust practical technical solutions to critical portfolio management challenges.

Prior to his six year tenure at FinAnalytica Hank held the position of US Vice President at Cadis Software, the innovative buy-side enterprise data management (EDM) specialist technology and services company recently acquired by Markit Financial Information Services. At Cadis Hank helped spearhead the organization’s growth playing an instrumental role in establishing their US market presence. Prior to this, he held numerous client centric positions at PerTrac Financial Solutions, SS&C Technologies, Merrill Lynch Securities Pricing and the Cantor Fitzgerald Evaluated Pricing Service.

Hank holds an MBA in Finance with a concentration in Capital Markets from Fordham University in New York and a BA from Creighton University in Omaha. He earned the FINRA Series 7 and 63 licenses.
Ivan Mitov    Ivan Mitov, PhD
Head of Quantitative Research

Ivan Mitov is Head of Quantitative Research at FinAnalytica and has been working for FinAnalytica for the past ten years doing research and implementation of heavy tailed distributions in the field of financial risk management. Currently he is leading the team which is responsible for the integration, risk analysis and stress testing of complex derivatives portfolios. Previously, he worked on the research, design and implementation of the market risk module and many of the internal financial instruments calculators in Cognity. He was a junior quantitative analyst at Bravo Risk Management Group – the originator of Cognity.  Before joining Bravo Risk Management Group, Ivan worked at Metalife, a bioinformatics company, doing research in the area of genetic algorithms and protein-protein interactions. Ivan completed his Ph.D. thesis in Probability and Statistics at the Sofia University considering heavy-tailed models and an application to the approximation of extreme operational losses. He also holds a M.Sc. degree in Mathematical Modeling in Economics and Finance from Sofia University and a B.Sc. degree in Applied Mathematics from Sofia University.
 Georgi Mitov   Georgi Mitov, PhD
Head of Quant Product Development

Georgi Mitov leads the Quantitative Product Development at FinAnalytica and manages the team responsible for the implementation and testing of the Cognity quantitative models. Georgi has been with FinAnalytica since its origination and has worked on a variety of projects including Derivative Pricing, fat-tailed Monte Carlo scenarios generation, and Market and Credit risk modeling. Before joining FinAnalytica, Georgi worked at Metalife, a bioinformatics company, doing research in the area of genetic algorithms and protein-protein interactions. Georgi has a Ph.D. in Probability and Statistics from the Bulgarian Academy of Science. He also holds a M.Sc. degree in Mathematical Modeling in Economics and Finance from Sofia University and a B.Sc. degree in Applied Mathematics from Sofia University.
Kristina Bratanova-Cvetanova      

Kristina Bratanova-Cvetanova, CFA
Head of Global Account Management

Kristina Bratanova-Cvetanova contributes to FinAnalytica's growth since 2007 and oversees all customer accounts globally. Before joining FinAnalytica, she was an Analyst in the Bulgarian Financial Supervision Commission, responsible for the annual and quarterly reports for capital markets, insurance markets and supplementary pension insurance markets. For the past 8 years Kristina has been an assistant at the Faculty of Economics and Business Administration at Sofia University assisting with instruction in Game Theory, Quantitative Methods for Economic Analysis and Mathematics in Economics. She holds a B.Sc. degree in Economics and a M.Sc. degree in Finance and Banking from Sofia University. Kristina is also a CFA charterholder.

 Elena Stoyanova  

Elena Stoyanova
Head of Client Solutions and Integrations, Americas

Elena Stoyanova has 10+ years experience in the financial services industry assuming various roles within the risk analytics function of leading banks and asset management companies in Eastern Europe. Prior to joining FinAnalytica, Elena was Head of Risk at DSK Asset Management where she was in charge of the risk management of all mutual funds managed by the company. Formerly, she specialized as a market risk analyst for the Treasury function at DSK Bank. Elena holds а B.Sc. degree in Economics from Sofia University.

Ivan Vratzov   Ivan Vratzov
Client Services, Director

Ivan Vratzov is serving as Client Services Director for FinAnalytica, and is engaged in senior-level account management and post-sales support to customers including fund of funds, endowments and asset managers. He is also managing the Business Analysis and providing a senior supervision on the design and product development of Cognity’s platform. Ivan holds a B.Sc. and a M.Sc. degree in Banking and Finance from RWTH University in Aachen, Germany as well as a B.Sc. degree in Insurance Business from the University of National and World Economy in Sofia, Bulgaria, and has attended a programme in Quantitative Finance at Maastricht University in Maastricht, The Netherlands.

Stanislav Lazarov
Strategic Technology Development, Director

Stanislav Lazarov has more than twenty years of experience in software development with a broad range of platforms and technologies. He has been with the FinAnalytica team since its origination. During all these years he has been working on expanding the product and growing the organization. Currently, Stanislav is responsible for the design, development and maintenance of the strategic software development projects within the Company. He graduated Computer Science from Sofia University.


Alexander Delev
Integrations and Technical Services, Director

Alexander Delev is responsible for data vendors and clients integrations and for client-specific workflows implementation and automation. He has been with the company since 2004 and has been working on the core of Cognity and on the data integration infrastructure. Before joining the company, Alex gained seven years of experience in distributed real-time fleet control and embedded software. He holds a M.Sc. degree in Computer Systems from the Technical University of Sofia.


Zhivko Aleksiev, CFA
Product Software Development, Director

Zhivko Aleksiev is responsible for the core development of our flagman product Cognity. Before joining FinAnalytica in 2008, Zhivko worked as a team leader in a large outsourcing company, where he was responsible for a huge variety of web projects in Java and C#. He is a certified Java Developer, Java Enterprise Architect and Microsoft Developer. Zhivko is a CFA charterholder.

Margarita Zhivkova  

Margarita Shoyleva, CFA
Chief Financial Officer

Margarita joined FinAnalytica as a Financial Controller in 2009 and shortly after that became instrumental in all investor relations with different stakeholders and reporting demands in multiple jurisdictions. In addition to her core responsibilities comprising financial budgeting, reporting and execution monitoring, management accounting and IFRS and US GAAP compliance, Margarita also manages all annual independent valuations of the Company and is responsible for FinAnalytica’s financial auditor relationships and process management. After a short tenure as Head of Finance and Operations she became CFO in 2014. Margarita holds a B.Sc. degree in Business Administration and a M.Sc. degree in Accounting. She is a CFA charterholder.