This post may contain affiliate links, please read my Disclosure policy.
Career Paths and Skills for Quantum Finance Jobs
Quantum technology uses specialized hardware and particles in quantum states to exponentially speed up computers’ calculations.
Many leading industries are implementing new Quantum computing alongside traditional ones to boost processing power.
Companies and industries that use large amounts of data can take advantage of this type of emerging technology.
Quantum computers power grows exponentially over traditional computing and the Financial sector is an early adopter.
The number of problems that can be solved in Finance using these algorithms are many.
Commercial banks, Investment banks and Central banks are paying attention and dedicating resources to Quantum computing as the age of Quantum Banking is approaching.
From this focus, it looks like the future of Financial Services may be in Quantum computer’s capacity to speed up processes.
If you’re planning on a future career in the Financial Sector, here are some of the skills that a Quantum infrastructure is requiring.
College Degrees and Subjects for Quantum Finance
What education do you need for a Quantum Financial Service Job?
There are many paths to get into a career in Financial Quantum. Some of these are traditional majors like Financial Engineering and others are non traditional like studies in Economics, for examples.
These courses of studies will teach you the Quantum concepts and applications for Trading, Investments, Risk Management, Derivatives Pricing and others Financial subjects.
The most popular degree to pursue to start a career in Quantum Finance is Financial Engineering. Sometimes this degree is referred as Computational Finance, Qualitative Finance or Mathematical Finance.
Statistics, Applied Mathematics, Data Science and Computer Science are traditional degrees to start a career in Financial Quantum.
Engineering, Econometrics and Economics are less traditional ways that lead to work in Financial Services Quantum.
It is common to pursue an undergraduate degree in Computer Science, Mathematics, Data Science or Statistics and then pursue a Master in more advanced Financial subjects.
The types of learning you can expect from these studies include activities like research, models building, statistic modeling, assets pricing, writing algorithms, programming, data analysis, models validation and volatility prediction.
- Practical Uses Of Financial Quantum Computers
- Meaning of The Invisible Hand
- 5 Applications of The Fibonacci Sequence
Roles in Quantum Financial Services
Financial companies are hiring staff specifically for Quantum roles in various areas.
These positions may have the same titles as the traditional ones, but they’re designed for working with Quantum foundations.
These are some of the financial activities that are being enhanced by the use of Quantum methodologies so far.
Quantum computing can be use to optimize the pricing of derivatives, options and other financial assets. Finding the best solutions among many possible outcomes is the goal when financial institutions use Quantum computing to price assets.
Quantum systems are used to improve the prediction of possible changes in assets prices and market crash predictions.
Quantum algorithms are used to identify fraud in real time with patterns recognition and large amount of data.
Selection of Stocks
Quantum systems allows for stocks to be classified according to certain criteria like return, risk, volatitily and allowing for the selection of best of class according to investors standards.
Quantum Trading, Algorithm Trading
Using these algorithms, traders execute buying and selling transaction according to the preselections made by the computer systems.
Financial Forecasts and Accounting
Financial Quantum algorithms can also be used in Risks and Accounting departments of institutions.
In addition to measuring quantifiable data, these algorithms can recognize emotions and sentiments that are experienced by customers. This data in turn can be used to make financial projections to better target and serve customers.
Types of Quantum Jobs in Financial Services
Often referred to as Computational Finance, Quantum Financial jobs may involve working in the front office, back or middle office of financial firms.
These companies include banks, investment firms, Brokers, Hedge Funds and others.
Some of the roles’ names may be the same as traditional ones, but their functions are more specific to Quantum systems.
Here are some of the roles that so far have been identified for Quantum financial services.
This list will grow as users and developers find new ways to use Quantum capabilities.
- Quantum Trader
- Quantitative Risk Manager
- Quantum Trader Researcher
- Quantum Software Developer
- Model Validation Specialist
- Data Engineer
- Quantum Data Analyst
- Algorithm Trading
Companies Hiring for Quantum Financial Services Jobs
Quantum Financial Services jobs are being created and filled mostly by financial institutions.
Here is a list of some the banks and investment companies with early adoption of Quantum computing.
- JP Morgan Chase
- BNP Paribas
- Citi Group
- Wells Fargo
- Royal Bank of Canada
- Goldman Sachs
Quantum Financial Services is still an evolving concept with some institutions trying to get an early start.
Even if Quantum computers are many years away from full implementation, financial firms are investing in Quantum technology today.
The roles and skills being created in Quantum Financial Services go beyond software development and research, many of these jobs are for traditional business roles with a Quantum leaning.
Some colleges and universities have developed courses of studies to prepare for potential careers in Quantum Financial Services.