Quantitative Analyst, Risk Salary
Pay for Risk Quantitative Analysts in the United States sits in the ballpark of $87K annually. Geography is the biggest factor affecting pay for this group, followed by career duration. Nearly all report receiving medical coverage from their employers and most collect dental insurance. Making up 70 percent of those who took the survey, male Risk Quantitative Analysts greatly outnumber their female counterparts. Most workers in this position report high levels of job satisfaction.
|Salary||$60,137 - $146,318|
|Bonus||$2,891 - $20,394|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$60,263 - $157,664|
Job Description for Quantitative Analyst, Risk
Quantitative risk analyst are responsible for understanding risk system concepts, software framework, and data requirements within the requirements of their organization and projects. They utilize the knowledge to perform various analyses to support model validations. Their main responsibilities include analyzing large data sets and time series using proprietary enterprise data analytics systems, as well as applying machine learning algorithms and modifying their settings according to project requirements.Read More...
Other tasks performed by quantitative risk analysts include designing and implementing technical solutions to management analytics, creating detailed reports based on their observations, and relaying findings to superiors and other departmental supervisors for their use in future business decisions. They may also work with other quantitative analysts to perform model validation to build applications for risk analysis. Quantitative risk analysts need to be able to use different computer frameworks and quantitative software, and they use a computer to calculate risk and analyze quantitative data.
At least a bachelor's degree in mathematics, physics, statistics, or a related field is required for this job. Previous related experience is needed as well, and relevant certifications may be beneficial. Quantitative risk analysts must be have strong analytical skills to interpret risk and quantitative data. They need to work well in a fast-paced environment and be able to deliver risk analyses within deadline.
Quantitative Analyst, Risk Tasks
- Research and analyze market statistics to develop, test, validate, execute, and maintain analytical software programs and quantitative models.
- Query, consolidate, and present data to senior management.
- Assist in the construction and execution of portfolio management.
- Perform risk analytics, loan pricing, and default risk modeling,
- Design tests and experiments to collect data and test new models and programs
Popular Skills for Quantitative Analyst, Risk
Risk Quantitative Analysts generally report applying a varied skill set to their work. Most notably, skills in Data Analysis, Financial Modeling, Risk Management / Risk Control, and SQL are correlated to pay that is above average. Those familiar with SAS also tend to know Risk Management / Risk Control.
Pay Difference by Location
New York is home to an above-average pay rate for Risk Quantitative Analysts, 42 percent higher than the national average. Place of residence plays a huge part in a Risk Quantitative Analyst's salary, with Buffalo Risk Quantitative Analysts earning salaries that are 33 percent less than the national average.
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Key Stats for Quantitative Analyst, Risk
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