Quantitative Analyst (Desk Quant)

BriefYour role

L3 salary: Not published yetSalary figures open with the salaries section.
Upcoming dated changes: 1 change aheadNext: 2 Dec 2027
Where the changes come from
Each change in the Regulatory calendar comes from an official text, linked on its page.
A change affects this role directly when it names a process that is one of the role's main tasks.
Top critical skills: Descriptive statistics and distributions
Machine learning fundamentals
Python for data analysis

What the role does

Quantitative Analyst (Desk Quant) is a role in Markets, Trading & Research. The family covers trading, sales, research and brokerage in financial markets. The core skill is descriptive statistics and distributions, and the main work is AI and automation, market risk measurement and P&L and valuation control.

This is a brief profile written from the catalogue. A full profile with a day in the life, level descriptions and the effect of AI is being written.

Levels

L1 Starting out 0-2 years
L2 Independent 2-5 years
L3 Senior or specialist 5-9 years
L4 Leads a team or an area 8-14 years
L5 Leads the function 12+ years

Full level descriptions and job titles

The EFO level names are the common scale; job titles differ between employers.

Levels of Quantitative Analyst (Desk Quant)
Level	What the work looks like	Typical years	Typical job titles
L1 Starting out	Learns the job; executes defined tasks with supervision	0-2	Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer
L2 Independent	Owns a process end to end; trains L1; first contact for the team's clients	2-5	Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer
L3 Senior or specialist	Deep expertise; handles exceptions and change; represents the function in projects	5-9	Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team)
L4 Leads a team or an area	Manages people or a large process; owns budgets or controls; escalation point	8-14	Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section
L5 Leads the function	Accountable for the function in a legal entity or region; sets priorities and standards	12+	Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director

Specialisations

Specialisations share most of the role and differ in the skills listed here.

Quantitative Strategist

Critical skills: Descriptive statistics and distributions, Machine learning fundamentals, Python for data analysis

Matches your search

Skills

The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.

Critical 5

The job cannot be done without these.

Descriptive statistics and distributionsWeight 13.3%Anchor skillExpected level: expertRelevant to you
Machine learning fundamentalsWeight 8.9%Expected level: expertRelevant to you
Python for data analysisWeight 8.9%Expected level: expertRelevant to you
Risk measures and sensitivitiesWeight 8.9%Expected level: expertRelevant to you
Derivatives and how they workWeight 8.9%Expected level: expertRelevant to you

Important and supporting skills 17

Important 8

Needed in most positions.

Applied statistical modelling for pricing and risk (GLM, survival)Weight 4.4%Expected level: practitionerRelevant to you
Forecasting methods and time seriesWeight 4.4%Expected level: practitionerRelevant to you
Software design and code qualityWeight 4.4%Expected level: practitionerRelevant to you
Querying data with SQLWeight 4.4%Expected level: practitionerRelevant to you
Financial markets knowledgeWeight 4.4%Expected level: practitionerRelevant to you
Professional written communicationWeight 4.4%Expected level: practitionerRelevant to you
Design judgment and trade-offsWeight 4.4%Expected level: practitionerRelevant to you
Model validation and governanceWeight 4.4%Expected level: practitionerRelevant to you

Supporting 6

Help in many positions.

Causal inference and econometricsWeight 2.2%Expected level: practitionerRelevant to you
Git version controlWeight 2.2%Expected level: practitionerRelevant to you
Data modelling and schema designWeight 2.2%Expected level: practitionerRelevant to you
Attention to detailWeight 2.2%Expected level: practitionerRelevant to you
Trading and risk systems (Murex, Calypso)Weight 2.2%Expected level: practitionerRelevant to you
Hypothesis testing and significanceWeight 2.2%Expected level: practitionerRelevant to you

Useful 3

Occasionally useful.

Cloud platforms (AWS, Azure)Weight 0.7%Expected level: working knowledgeRelevant to you
Verbal communication and presentingWeight 0.7%Expected level: working knowledgeRelevant to you
Conduct and investor protection rules (MiFID II, FINRA, SEBI)Weight 0.7%Expected level: working knowledgeRelevant to you

Processes

The work the role takes part in.

What each process covers

AI and automationMainApplying machine learning, generative AI and automation to finance work.
Market risk measurementMainMeasuring sensitivities and potential losses on trading positions.
P&L and valuation controlMainProducing and explaining daily P&L and independently checking prices.
Insurance underwriting, claims and policySupportingPricing, underwriting, claims and policy administration.
Model development and validationSupportingBuilding and independently checking risk and pricing models.

Dated changes for this role

2 Dec 2027AI Act: high-risk rules for credit scoring postponed to December 2027Relevant to you

Worth knowing

Changes that touch a process this role takes part in as a secondary task.

1 Jan 2027FINMA circular on nature-related financial risks phases in
30 Jan 2027Revised Solvency II rules apply from January 2027

See all 3 in the Regulatory calendar

Salary snapshot

Salary figures are not published yet

The L3 salary range for this role, with its sources, will appear here when the salaries section opens.

Certifications

CFA Program Level I CFA Institute
CFA Program Level II CFA Institute
FRM GARP

Concepts to know

Neighbouring roles

Roles that need many of the same skills, by weighted skill overlap, with the skills you would need to add.

Quantitative Developer

96% skill overlap

Your role

Market Risk Analyst

56% skill overlap

To add: Basel framework and capital, Advanced Microsoft Excel, Risk judgment and escalation instinct

Your role

Model Validation Analyst

54% skill overlap

To add: Basel framework and capital, Advanced Microsoft Excel, Risk judgment and escalation instinct

Your role

Traded Risk Analyst

54% skill overlap

To add: Basel framework and capital, Advanced Microsoft Excel, Risk judgment and escalation instinct

Your role

Operational Risk Analyst

51% skill overlap

To add: Basel framework and capital, Operational resilience and ICT risk rules (DORA and equivalents), Advanced Microsoft Excel

Your role

Data Scientist

50% skill overlap

To add: Experiment design and A/B testing, Communicating data to non-technical audiences, Choosing the right metric for the question

Your role

Do this job? Suggest a correction

Sources

The EFO role catalogue, with skills, levels and processes. How it is built
ESCO classification of the European Commission (external site) for job titles