Quantitative analyst, or quant analyst, is a person who works in a financial institution. It may be anything from banks to investment centers to a hedge fund. The main job of the quant analyst is to research and design statistical or mathematical models and then implement them all the same. Quant research plays a major role in growth of the firm.
This profession is said to be introduced in late 1930′s when investors started to make use of mathematical models to determine the prices of stock. Today, this job has undergone tremendous change and relies on heavy usage on technology for which a person needs to have expertise and requires skill set.
A quant analysis job requires good mathematical skills. A person should master programming languages and should have a very good marketing sense. It is said a person who has got a PhD is more apt or suited for a quant analyst job. These days, majority of the financial institutions are becoming more mathematical and this is the reason why they are hiring candidates having pure mathematics or physics as their majors in graduation.
A quant analysis apart from working out financial health of the organization also works on various aspects like risk analysis, forecasting, trading support etc. It is thus, a specialized job in which you simply cannot afford to make mistakes. This is suited for a person who enjoys numbers and love to play with them.
It requires a candidate to have a long term focus and who is able to interpret the historical data easily. An ideal candidate is one who has knowledge on math, finance, programming and statistics. The demand for them is on the rise and this is one of the major reasons why management schools are creating new PhD programs.