In the investment banking world, quantitative analyst work closely with traders to develop trading models based on Neural Networks, Statistics, Artificial Intelligence and Computational Mathematics. Entire funds are built upon quant models, so the “Quants” as they are known, are a hot commodity in the financial trading world. In turn, talent for quantitative analyst jobs is in high demand.
Quantitative analysts can maintain existing or develop new systems from the ground up for portfolio management, P&L calculations, prime broker data interfaces and position reconciliations, and trade imports and exports. Often times the quantitative models are developed to exploit market inefficiencies in an automated fashion.
Quant jobs are readily found both in investment banking and hedge fund firms. Usually the requirements for these positions include experience with portfolio construction, asset allocation, risk modeling, or multi-variance regression analysis. The educational requirements often call for a Quantitative Masters or PhD with a background in statistics and mathematics, and the top firms require degrees from only the top universities. Technical skills needed include: Matlab, C++, SQL, Oracle, Perl, Java, and Visual Basic. It is not unusual for firms to seek individuals with both Linux and Windows environment experience.
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