Financial Quantitative Analysts - 13-2099.01

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.

Sample of reported job titles: Applied Research Director, Global Analytics Head, Global Credit Quantitative Analysis Head, Investment Strategist, Portfolio Manager, Quantitative Analyst, Quantitative Equity Head, Quantitative Research Analyst, Quantitative Strategy Analyst, Research Analyst

Tasks

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

Technology Skills

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

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

Knowledge

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.

Skills

• Mathematics - Using mathematics to solve problems.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking - Talking to others to convey information effectively.
• Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Persuasion - Persuading others to change their minds or behavior.
• Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
• Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
• Coordination - Adjusting actions in relation to others' actions.
• Instructing - Teaching others how to do something.
• Learning Strategies - Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
• Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
• Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
• Time Management - Managing one's own time and the time of others.

Abilities

• Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
• Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
• Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
• Speech Recognition - The ability to identify and understand the speech of another person.
• Fluency of Ideas - The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
• Speech Clarity - The ability to speak clearly so others can understand you.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Near Vision - The ability to see details at close range (within a few feet of the observer).
• Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
• Originality - The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
• Selective Attention - The ability to concentrate on a task over a period of time without being distracted.

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 Context

• Electronic Mail - 100% responded “Every day.”
• Spend Time Sitting - 83% responded “Continually or almost continually.”
• Duration of Typical Work Week - 87% responded “More than 40 hours.”
• Importance of Being Exact or Accurate - 74% responded “Extremely important.”
• Indoors, Environmentally Controlled - 91% responded “Every day.”
• Face-to-Face Discussions - 64% responded “Every day.”
• Level of Competition - 61% responded “Extremely competitive.”
• Telephone - 50% responded “Every day.”
• Freedom to Make Decisions - 45% responded “A lot of freedom.”
• Structured versus Unstructured Work - 61% responded “Some freedom.”
• Impact of Decisions on Co-workers or Company Results - 39% responded “Very important results.”
• Work With Work Group or Team - 43% responded “Very important.”
• Consequence of Error - 35% responded “Extremely serious.”
• Contact With Others - 57% responded “Contact with others most of the time.”
• Time Pressure - 52% responded “Once a week or more but not every day.”
• Frequency of Decision Making - 39% responded “Once a month or more but not every week.”
• Responsibility for Outcomes and Results - 35% responded “High responsibility.”
• Importance of Repeating Same Tasks - 26% responded “Very important.”
• Coordinate or Lead Others - 35% responded “Important.”

Education

Percentage of Respondents	Education Level Required
65%	Master's degree
13%	Bachelor's degree
13%	Post-baccalaureate certificate

Work Styles

• Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
• Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
• Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
• Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
• Persistence - Job requires persistence in the face of obstacles.
• Integrity - Job requires being honest and ethical.
• Initiative - Job requires a willingness to take on responsibilities and challenges.
• Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
• Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
• Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
• Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
• Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
• Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
• Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.

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 & Trends

• Median wages (2017)
  • $33.42 hourly, $69,520 annual
• Employment (2016)
  • 136,000 employees
• Projected growth (2016-2026)
  • Faster than average (10% to 14%)
• Projected job openings (2016-2026)
  • 13,100