Summary Report for:
13-2099.01 - Financial Quantitative Analysts
Develop quantitative financial products used to inform individuals and 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 and advanced financial investment instruments.
This title represents an occupation for which data collection is currently underway.
Tasks | Interests | Work Values | Wages & Employment
Tasks
- Apply mathematical and 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 and tools to help verify results of analytical systems.
- Research and develop analytical tools to address issues such as portfolio construction and optimization, performance measurement, attribution, profit-and-loss measurement, and 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 and analysts to understand trading strategies, market dynamics, and 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 and recommend model specifications or data collection methods.
- Develop core analytical capabilities or model libraries, using advanced statistical, quantitative, and econometric techniques.
- Interpret results of analytical procedures.
- Maintain and modify all analytic models in use.
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 employs 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.
| Median wages (2008) | $27.48 hourly, $57,150 annual |
| Employment (2006) | 129,000 employees |
| Projected growth (2006-2016) | 
Average (7% to 13%)
|
| Projected need (2006-2016) | 50,000 additional employees |
State & National
Source: Bureau of Labor Statistics 2008 wage data
and 2006-2016 employment projections
.
"Projected growth" represents the estimated change in total employment over the projections period (2006-2016). "Projected need" represents job openings due to growth and net replacement.