(November 5, 2009) – A new study of quants and risk management supervisors indicates that there is a large gap in understanding between the two groups.
The study, done for The Certificate in Quantitative Finance—the brainchild of noted quant Paul Wilmott—shows that 86% of quants feel that supervisors have learned little during the financial crisis. A further 64% feel that their supervisors have little to no understanding of what a quant does. Even more alarming is that 70% feel that the level of understanding of their role has decreased (or at least not changed) since one year ago.
Although a difficult group to define, quants usually work for financial institutions in the areas of quantitative finance and risk management.
Wilmott—who will appear in the December issue of ai5000—indicated his concern regarding the results in a press release. “These numbers are alarming,” he is quoted as saying. “They indicate that, even with the events of the past year, financial institutions are still not taking the importance of financial education seriously, especially as it pertains to improving relationships and understanding between quants and their managers.”
To contact the <em>aiCIO</em> editor of this story: Kristopher McDaniel at <a href='mailto:firstname.lastname@example.org'>email@example.com</a>