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.
- Analyze pricing or risks of carbon trading products.
- 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.
- 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 on 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.
- Develop solutions to help clients hedge carbon exposure or risk.
- Develop tools to assess green technologies or green financial products, such as green hedge funds or social responsibility investment funds.
- 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.
Tools & Technology
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 (see all 5 examples)
- 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; 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
Detailed Work Activities
- Prepare financial documents, reports, or budgets.
- Confer with personnel to coordinate business operations.
- Develop business or financial information systems.
- Analyze business or financial data.
- Develop technical specifications for systems or equipment.
- Discuss business strategies, practices, or policies with managers.
- Assess the cost effectiveness of products, projects, or services.
- Measure effectiveness of business strategies or practices.
- Monitor business indicators.
- Apply mathematical models of financial or business conditions.
- Develop financial analysis methods.
- Advise others on analytical techniques.
- Analyze risks related to investments in green technology.
This occupation may require a background in the following science, technology, engineering, and mathematics (STEM) educational disciplines:
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.
- 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
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|
|Employment (2012)||156,000 employees|
|Projected growth (2012-2022)||Slower than average (3% to 7%)|
|Projected job openings (2012-2022)||25,800|
|Top industries (2012)|
Source: Bureau of Labor Statistics 2014 wage data and 2012-2022 employment projections . "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.