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Details Report for:
13-2099.01 - Financial Quantitative Analysts

Develop quantitative financial products used to inform individuals or financial institutions engaged in saving, lending, investing, borrowing, or managing risk. Investigate methods for financial analysis to create mathematical models used to develop improved analytical tools or advanced financial investment instruments.

This title represents an occupation for which data collection is currently underway.

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Tasks  |  Tools & Technology  |  Education  |  Interests  |  Work Values  |  Wages & Employment  |  Job Openings

Tasks   Save Table (XLS/CSV)

  • Analyze pricing or risks of carbon trading products. Green Task Statement
  • Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
  • Assess the potential impact of climate change on business financial issues, such as damage repairs, insurance costs, or potential disruptions of daily activities. Green Task Statement
  • Collaborate in the development or testing of new analytical software to ensure compliance with user requirements, specifications, or scope.
  • Collaborate with product development teams to research, model, validate, or implement quantitative structured solutions for new or expanded markets.
  • Confer with other financial engineers or analysts to understand trading strategies, market dynamics, or trading system performance to inform development of quantitative techniques.
  • Consult traders or other financial industry personnel to determine the need for new or improved analytical applications.
  • Define or recommend model specifications or data collection methods.
  • Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, or econometric techniques.
  • Develop methods of assessing or measuring corporate performance in terms of environmental, social, and governance (ESG) issues. Green Task Statement
  • Develop solutions to help clients hedge carbon exposure or risk. Green Task Statement
  • Develop tools to be used in the assessment of green technologies or green financial products, such as green hedge funds or social responsibility investment funds. Green Task Statement
  • Devise or apply independent models or tools to help verify results of analytical systems.
  • Identify, track, or maintain metrics for trading system operations.
  • Interpret results of financial analysis procedures.
  • Maintain or modify all financial analytic models in use.
  • Prepare requirements documentation for use by software developers.
  • Produce written summary reports of financial research results.
  • Provide application or analytical support to researchers or traders on issues such as valuations or data.
  • Research new financial products or analytics to determine their usefulness.
  • Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.

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Tools & Technology   Save Table (XLS/CSV)

Tools used in this occupation:

Desktop computers
Mainframe computers
Notebook computers — Laptop computers
Personal computers
Photocopiers — Photocopying equipment
Scanners — Computer data input scanners
Special purpose telephones — Multi-line telephone systems

Technology used in this occupation:

Analytical or scientific software — Insightful S-PLUS; SAS software; StataCorp Stata; The MathWorks MATLAB
Data base user interface and query software — Microsoft Access; Structured query language SQL
Data mining software — IBM Cognos 8 Business Intelligence
Development environment software — Microsoft Visual Basic for Applications VBA
Enterprise resource planning ERP software — MicroStrategy Desktop
Financial analysis software — Bloomberg Professional
Internet browser software — Web browser software
Object or component oriented development software — C++; Microsoft Visual C#; Python; R * (see all 5 examples)
Office suite software — Microsoft Office software
Spreadsheet software — Microsoft Excel
Web platform development software — JavaScript

* Software developed by a government agency and/or distributed as freeware or shareware.

See all T2 categories and examples

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Education

This occupation may require a background in the following science, technology, engineering, and mathematics (STEM) educational disciplines:

Computer Science — Management Science, General

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Interests   Save Table (XLS/CSV)


Occupational Interest
Interest
95   Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
78   Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
45   Artistic — Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
33   Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
22   Realistic — Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
  Social — Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

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Work Values   Save Table (XLS/CSV)


Extent
Work Value
72   Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
67   Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
67   Recognition — Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
67   Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
56   Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
56   Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

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Wages & Employment Trends

National

Median wages data collected from Financial Specialists, All Other.
Employment data collected from Financial Specialists, All Other.
Industry data collected from Financial Specialists, All Other.

Median wages (2012) $29.40 hourly, $61,160 annual
Employment (2012) 156,000 employees
Projected growth (2012-2022) Slower than average (3% to 7%) Slower than average (3% to 7%)
Projected job openings (2012-2022) 25,800
Top industries (2012)
Finance and Insurance (38% employed in this sector)

State & National

          CareerOneStop

Source: Bureau of Labor Statistics 2012 wage data external site and 2012-2022 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2012-2022). "Projected job openings" represent openings due to growth and replacement.

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Job Openings on the Web

Find Jobs
for Financial Quantitative Analysts

          mySkills myFuture

State & National Job Banks

          CareerOneStop

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