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Person who performs financial analysis

A financial analyst is a professional, undertaking financial analysis for external or internal clients as a core feature of the job. The role may specifically be titled securities analyst, research analyst, equity analyst, investment analyst, or ratings analyst. The job title is a broad one: in banking, and industry more generally, various other analyst roles cover financial management and (credit) risk management, as opposed to focusing on investments and valuation; these are also discussed in this article.

Financial analysts can work in a variety of industries. A large proportion of them are employed by mutual and pension funds, hedge funds, securities firms, banks, investment banks, insurance companies, and other businesses, helping these companies or their clients make investment decisions. Financial analysts invariably use spreadsheets (and statistical software packages) to analyze financial data, spot trends, and develop forecasts. The analyst often also meets with company officials to gain a better insight into a company's prospects and to determine the company's managerial effectiveness. Analysts specializing in advanced mathematical modeling and programming are referred to as "quants"; see for an overview, and for the various roles.

Financial analysts in the investment banking departments of securities or banking firms often work in teams, analyzing the future prospects of companies, and selling shares to the public for the first time via an initial public offering (IPO), or issuing bonds; this task is often identical to that of a securities analyst. On this basis, they will then make presentations to prospective investors re the merits of investing in the new company, presenting their "pitch books" on a "roadshow"; see bookrunner and securities underwriting. An additional component of the IB role here: analysts ensure that all forms and written materials necessary for compliance with Securities and Exchange Commission regulations are accurate and complete. Many IB analysts work in mergers and acquisitions (M&A) departments, similarly preparing analyses on the costs and benefits of a proposed merger or takeover, and assisting with regulatory submissions; here there are both buy side and sell side analysts. See The analysis is somewhat more specialized than for an IPO, as it must consider valuation pre and post merger, a function of efficiencies, synergies, or increased market share, financing employed, including M&A specific considerations such as the swap ratio, and tax optimization, both re the transaction and for the new entity. At more senior levels, (and liaising with sales and trading). Investment banks, and large trading houses, often employ an economics team or group. This team produces the economic forecasts informing the various valuations and overall investment strategy; see and Economic analyst.

Within banking, there are other non quant analyst roles (not necessarily titled "financial analyst"), mainly within the "middle office"; these are generally linked, at least by dotted line, to both the Finance and Risk Management areas. Corporate Treasury is responsible for an investment bank's funding, capital structure management, and liquidity risk monitoring; see It is then (co)responsible for the bank's funds transfer pricing (FTP) framework, allowing for comparable financial performance evaluation among business units
Product Control is primarily responsible for "explaining" the P&L; i. e.: attributing returns to individual desks, decomposing these into their risk factors, and ensuring that traders' positions are reflected at their market values; the tools here are often built by a separate quant team, possibly front office, but maintained by Product Control. Credit Risk monitors the bank's debt clients on an ongoing basis, as described below; it is additionally responsible for tracking the risk capital and risk adjusted returns on these clients, and reporting re concentration risk and risk appetite. These areas, together with the various dedicated Risk Groups, allow the Finance department to advise senior management regarding the firm's global risk exposure and the profitability and structure of the firm's various businesses; see
A comptroller (or financial controller) is a senior position, responsible for these analyses and internal control more generally, usually reporting to the bank's chief financial officer, as well as copying the chief risk officer.

As outlined, the job title is a broad one, and analyst roles also include financial management and (credit) risk management.