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.
Tasks | Tools & Technology | Education | Interests | Work Values | Wages & Employment | Job Openings
Tasks
- 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.
Tools & Technology
Tools used in this occupation:
| Desktop computers |
| Mainframe computers |
| Notebook computers — Laptop computers |
| Photocopiers — Photocopying equipment |
| Scanners — Computer data input scanners |
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 |
| Financial analysis software — Bloomberg Professional |
| Object or component oriented development software — C++; Microsoft Visual C#; Python; R * |
| Spreadsheet software — Microsoft Excel |
* Software developed by a government agency and/or distributed as freeware or shareware.
Education
This occupation may require a background in the following science, technology, engineering, and mathematics (STEM) educational disciplines:
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. |
| 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. |
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. |
| 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. |
| 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. |
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 (2010) | 165,000 employees |
| Projected growth (2010-2020) | 
Slower than average (3% to 9%)
|
| Projected job openings (2010-2020) | 44,900 |
| Top industries (2010) |
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.
