Internship Merchant Risk Analyst Jobs in Richmond, VA

What You'll Do

Koalafi is expanding beyond lease-to-own by launching a non-prime installment loan product that will diversify our portfolio and accelerate growth in select states and verticals. The Manager of Business Analysis will report directly to the Chief Risk Officer and play a central role in designing and operationalizing the company's risk management framework for this new product. The role will lead development of core risk policies (credit, fraud, KYC/AML, collections, etc.), build a robust monitoring and reporting suite, and execute ad hoc analyses that support product development, pilot rollout, and scaling. This person will be a key cross-functional partner to Product, Engineering, Compliance/Legal, Operations, and Finance.

Risk Policy Development & Governance

• Lead drafting and iteration of risk management policies and standards supporting the non-prime installment product, including:
  • Credit policy (eligibility, underwriting strategy, line assignment, and pricing inputs)
  • Fraud policy (identity theft, synthetic fraud, first-party fraud, and merchant abuse)
  • KYC / identity verification standards (CIP/KYC requirements, documentary verification requirements, third-party data use, and step-up verification)
  • Servicing and collections risk policy (hardship, restructures, settlements, and outbound communications)
• Translate policy intent into operational procedures and control requirements
• Establish a lightweight governance cadence for policy review/changes and maintain a living policy repository with change logs

Monitoring Suite & Risk Reporting

• Design and implement a monitoring framework for the new product that includes:
  • Risk appetite metrics and early-warning indicators (origination mix, approval rates, early DQ, roll rates, fraud rate, payment failure rates, complaint rate, etc.)
  • Cohort/vintage tracking and performance segmentation (state, vertical, channel, merchant, score band, income/DTI bands, etc.)
  • Operational controls monitoring (KYC pass rates, step-up rates, manual review queues, etc.)
• Build a recurring executive reporting pack for the leadership team and create self-serve dashboards for day-to-day decision making.
• Partner with Analytics and Data Engineering to ensure data definitions are consistent, auditable, and scalable (metric dictionary, QA checks, reconciliation vs. source systems).

Product Launch Support & Ad Hoc Analysis

• Support product design decisions by quantifying trade-offs among risk, approval rate, unit economics, and customer experience (e.g., pricing sensitivity, repayment term structures, down payment requirements, etc.).
• Conduct targeted analyses to inform rollout strategy by state and vertical, including regulatory-driven constraints and operational readiness.
• Partner with Product and Engineering on test design and evaluation (A/B tests, pilots, phased rollouts), including measurement plans and success criteria.

Cross-Functional Influence & Execution

• Serve as a primary risk analytics partner to Product/Engineering during build, ensuring risk requirements are embedded in workflows (application, underwriting, funding, servicing, and collections).
• Collaborate closely with Compliance/Legal to translate regulatory requirements into operational policy and monitoring.
• Coordinate with Operations to ensure procedures, training, and escalation pathways align with policy intent.
• Drive clarity in decision-making: define owners, timelines, and expected deliverables; keep stakeholders aligned through launch milestones.

What Success Looks Like (First 6–12 Months)

• Core risk policies for the installment product are drafted, approved, and operationalized with clear change-control and exception processes.
• A "first-class" monitoring suite is live with daily/weekly dashboards and a monthly executive risk review cadence.
• Leadership has clear visibility into product performance by state/vertical, with early-warning signals and action plans.
• Policy and monitoring enable a controlled rollout that meets regulatory needs while achieving target approval and loss-rate ranges.

About You (Qualifications)

• Bachelor's degree required, in a quantitative field such as Statistics, Mathematics, Economics, Business, or Engineering preferred
• 5+ years of experience in an analyst, data science, or consulting role
• 3+ years of experience in credit risk analytics
• Experience in consumer financing industry, such as credit cards, personal loans, auto loans, BNPL, or similar field
• Proficiency in Excel, SQL, and Python for data analysis
• Exceptional attention to detail and problem-solving skills
• Ability to create a strategic agenda and execute against it
• Desire to work in a fast-paced, dynamic entrepreneurial environment
• Strong written and verbal communication skills
  

Location: Richmond, VA; Arlington, VA; or Remote (U.S.). Associates near one of our office locations may work in-office, hybrid, or remotely. Remote opportunities are available to candidates throughout the United States.

Salary Range: $131,000-$165,000 per year (depending on experience and location)
Additional Compensation: This position is eligible to participate in company bonus plan.

The final salary offer will depend on factors including, but not limited to, experience, skills, and geographic location. The actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

Applications will be accepted until position is filled.