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Summary 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  |  Detailed Work Activities  |  Education  |  Credentials  |  Interests  |  Work Values  |  Wages & Employment  |  Job Openings

Tasks

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

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Tools & Technology

Tools used in this occupation:

  • Desktop computers See more occupations related to this tool.
  • Mainframe computers See more occupations related to this tool.
  • Notebook computers — Laptop computers See more occupations related to this tool.
  • Personal computers See more occupations related to this tool.
  • Photocopiers — Photocopying equipment See more occupations related to this tool.
  • Scanners — Computer data input scanners See more occupations related to this tool.
  • Special purpose telephones — Multi-line telephone systems See more occupations related to this tool.

Technology used in this occupation:

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

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

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Detailed Work Activities

  • Prepare financial documents, reports, or budgets. See more occupations related to this activity.
  • Confer with personnel to coordinate business operations. See more occupations related to this activity.
  • Develop business or financial information systems. See more occupations related to this activity.
  • Analyze business or financial data. See more occupations related to this activity.
  • Develop technical specifications for systems or equipment. See more occupations related to this activity.
  • Assess the cost effectiveness of products, projects, or services. See more occupations related to this activity.
  • Monitor business indicators. See more occupations related to this activity.
  • Discuss business strategies, practices, or policies with managers. See more occupations related to this activity.
  • Apply mathematical models of financial or business conditions. See more occupations related to this activity.
  • Develop financial analysis methods. See more occupations related to this activity.
  • Measure effectiveness of business strategies or practices. See more occupations related to this activity.
  • Advise others on analytical techniques. See more occupations related to this activity.
  • Analyze risks related to investments in green technology. See more occupations related to this activity.

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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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Credentials

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Interests

Interest code: IC

  • 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. See more occupations related to this interest.
  • 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. See more occupations related to this interest.

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Work Values

  • Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. See more occupations related to this work value.
  • 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. See more occupations related to this work value.
  • 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. See more occupations related to this work value.

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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 (2014) $31.46 hourly, $65,440 annual
State wages Local Salary Info
 
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
State trends Employment Trends
 
Top industries (2012)

Source: Bureau of Labor Statistics 2014 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

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