Quantitative Analyst, Risk Salary
Median pay for Risk Quantitative Analysts in the United States is around $91K per year. Geography and years of experience each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to almost all, and a large number earn dental coverage. Most Risk Quantitative Analysts survey respondents are men (73 percent). Most Risk Quantitative Analysts report high levels of job satisfaction. Participants in PayScale's salary questionnaire provided the particulars of this report.
|Salary||$62,115 - $148,614|
|Bonus||$2,948 - $29,479|
|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).)
|$61,831 - $168,235|
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. (Copyright 2017 PayScale.com)
Quantitative Analyst, Risk Tasks
- Research and analyze market statistics to develop, test, validate, execute, and maintain analytical software programs and quantitative models.
- Perform risk analytics, loan pricing, and default risk modeling.
- Design tests and experiments to collect data and test new models and programs.
- Query, consolidate, and present data to senior management.
- Assist in the construction and execution of portfolio management.
Quantitative Analyst, Risk Job Listings
Popular Skills for Quantitative Analyst, Risk
Overall, survey participants reported applying a fair number of skills 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. At the other end of the pay range are skills like SAS and SQL. Those educated in SAS tend to be well versed in Risk Management / Risk Control.
Pay Difference by Location
New York offers some of the highest pay in the country for Risk Quantitative Analysts, 37 percent above the national average. Location is a huge contributor to overall pay, with Risk Quantitative Analysts in Buffalo earning a whopping 36 percent below the national average.
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Key Stats for Quantitative Analyst, Risk
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