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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  |  Technology Skills  |  Tools Used  |  Detailed Work Activities  |  Credentials  |  Interests  |  Work Values  |  Wages & Employment  |  Job Openings

Tasks

  • 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 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. Green Task Statement
  • Develop solutions to help clients hedge carbon exposure or risk. Green Task Statement
  • Develop tools to assess 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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Technology Skills

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

Hot technology Hot Technology — a technology requirement frequently included in employer job postings.

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Tools Used

  • 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

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Detailed Work Activities

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

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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.
  • 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.

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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.
  • 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.

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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 (2016) $33.40 hourly, $69,470 annual
State wages Local Salary Info
 
Employment (2014) 145,000 employees
Projected growth (2014-2024) Average (5% to 8%) Average (5% to 8%)
Projected job openings (2014-2024) 21,900
State trends Employment Trends
 
Top industries (2014)

Source: Bureau of Labor Statistics 2016 wage data external site and 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.

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Job Openings on the Web

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