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.
- Apply mathematical or statistical techniques to address practical issues in finance, such as derivative valuation, securities trading, risk management, or financial market regulation.
- Devise or apply independent models or tools to help verify results of analytical systems.
- Research or develop analytical tools to address issues such as portfolio construction or optimization, performance measurement, attribution, profit and loss measurement, or pricing models.
- 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 financial industry personnel, such as traders, 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.
- Interpret results of analytical procedures.
- Maintain and modify all analytic models in use.
- Produce written summaries of research results.
- Research new products or analytics to determine their usefulness.
- Collaborate in the development or testing of new analytical software to ensure compliance with user requirements, specifications, or scope.
- Identify, track, or maintain metrics for trading system operations.
- Provide application or analytical support to researchers or traders on issues such as valuations or data.
- Write requirements documentation for use by software developers.
- Analyze pricing or risks of carbon trading products.
- Assess the potential impact of climate change on business financial issues, such as damage repairs, insurance costs, or potential disruptions of daily activities.
- Develop methods of assessing or measuring corporate performance in terms of environmental, social, and governance (ESG) issues.
- Develop solutions to help clients hedge carbon exposure or risk.
- 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.
Tools used in this occupation:
|Notebook computers — Laptop 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|
* Software developed by a government agency and/or distributed as freeware or shareware.
This occupation may require a background in the following science, technology, engineering, and mathematics (STEM) educational disciplines:
|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.|
|6||Social — Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.|
|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.|
Wages & Employment Trends
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 (2010)||165,000 employees|
|Projected growth (2010-2020)||Slower than average (3% to 9%)|
|Projected job openings (2010-2020)||44,900|
|Top industries (2010)||
Finance and Insurance (39% employed in this sector)
Educational Services (11%)
State & National
Source: Bureau of Labor Statistics 2012 wage data and 2010-2020 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2010-2020). "Projected job openings" represent openings due to growth and replacement.