Quantitative Analyst 2 - Capital Structuring & Analytics
About the job
- At least 2 years of relevant experience structuring asset-backed transactions, forecasting consumer loan performance, and/or building quantitative models.
- Experience with industry-standard tools such as Intex and Bloomberg and with accountants, rating agencies, and internal and external partners.
- Experience with SQL, Python, or other scripting languages.
- Strong interpersonal and communication skills and the ability to collaborate and influence across different teams in the organization.
- Ability to seek out new opportunities, drive projects, navigate ambiguity, and develop creative solutions with minimal guidance.
- Desire to understand the broader context of business decisions.
- Work closely with the Capital Markets team to evaluate, structure, and price consumer asset-backed transactions.
- Develop and enhance capital structuring and pricing models tailored to Affirm’s consumer loan portfolio to enable efficient deal execution.
- Build quantitative models to analyze and predict the performance of Affirm’s consumer loans.
- Provide insights on capital markets deals to cross-functional teams to improve funding strategy and merchant pricing.
- Partner cross-functionally with Capital Markets, Treasury, Merchant Pricing, Credit, Commercial, Product, and Engineering teams to evaluate funding, product, and business decisions.
About the company
Affirm provides point-of-sale financing (BNPL) for consumers and merchants in e-commerce and retail. At checkout, customers can pay over time through installment plans with transparent pricing and no hidden deferred interest in many cases. It integrates with online stores, mobile apps, and in-store checkout via plugins and APIs, and merchants can use a dashboard to process transactions and access marketing tools. Revenue comes from interest and fees on loans and from merchants who pay to offer Affirm financing, setting it apart from traditional credit cards and other BNPL providers by emphasizing installment-based, predictable repayment.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Francisco, California
Founded
2012
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Simplify's Take
What believers are saying
- Fiscal Q4 2026 revenue reached $1.17 billion, up 39%, with 36% GMV growth.
- Costco UK launched on September 15, 2026, extending a successful 2025 U.S. partnership.
- Shopify Australia and AI underwriting expand approvals, merchants, and unit economics simultaneously.
What critics are saying
- Kusnier v. Affirm appeal in the Ninth Circuit can revive disclosure liability and legal costs.
- The CFPB can enforce consumer-credit rules, forcing product redesigns or penalties.
- Apple, Klarna, and PayPal fight for checkout placement, compressing merchant economics by 2027.
What makes Affirm unique
- Affirm underwrites each transaction in real time, not using static credit tiers.
- Its September 17, 2026 transformer model approved more eligible shoppers with better performance.
- Affirm owns merchant checkout integrations across Shopify, Costco, Stripe, and Amazon.
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Benefits
Spending wallets: Access tech, food, lifestyle, and family planning wallets for your expenses
Supportive communities: Get involved with our employee resource groups and community groups
Remote-first workforce: If your role is remote, you can set up shop anywhere in your home country
Generous time off: Take the time you need when life happens
Health benefits: Get a plan that fits your needs
Mental healthcare: Take care of your mind with great mental health programs
Parental leave: Birth and non-birth parents get 18 weeks paid leave. Plus, a 4-week return-to-work transition program, at full base pay.
Compensation: We have a simple, flexible, and transparent remote-first compensation structure so you can make the best decisions for yourself and your family.
Away days: We offer 24 company-wide paid days off—which help our teams collectively pause to recharge.
Learning & development: Engage in exciting learning programs to level up your growth.
Growth & Insights and Company News
6 month growth
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↑ 0%Affirm is rolling out an AI underwriting system, according to CEO Max Levchin. Speaking on CNBC's Closing Bell Overtime, Levchin expressed optimism about the technology and emphasised that the company has not had to cut staff to implement AI. The buy now, pay later firm is adopting artificial intelligence for its credit assessment processes. Levchin discussed the new system and his views on AI technology more broadly during the interview.
Affirm launches transformer-based machine learning model for real-time underwriting. September 17, 2026 New model builds on 14 years of transaction-level underwriting experience and data to approve more eligible consumers at comparable levels of risk SAN FRANCISCO-(BUSINESS WIRE)-Sep. 17, 2026- For 14 years, Affirm (NASDAQ: AFRM) has underwritten every purchase individually, in real time, using machine learning models built in-house. That approach is central to what Affirm promises the people who use it: every purchase gets its own decision, based on what a person can responsibly repay that day, with no late or hidden fees. Today, Affirm announced the latest advancement of that system: a transformer-based model that learns from the order and timing of events in a consumer's credit history. The model is now live at checkout in the U.S. In its initial deployment, Affirm used the model to approve additional eligible applications that its existing system would have declined, including those with limited credit histories and no FICO scores. Measured against a control group, that produced 3.4% more completed purchases, and those additional loans performed better than a comparable expansion under Affirm's previous machine learning models. "We've steadily accelerated the amount of data we use to train each generation of our underwriting models," said Libor Michalek, Affirm President. "What's exciting about the transformer model architecture is that we can now find new information within the data we already have. Seeing a credit history more clearly means we can responsibly say yes to more people." Finding more signal in credit history Affirm's underwriting models have improved with each generation, learning from more transactions and repayment outcomes. They've long used credit-bureau measures such as balances, credit utilization, account counts, and payment history. Those measures remain important, but they summarize a credit history that is always changing. The transformer can identify patterns within and across credit accounts, including how they change over time. It does that without a separate measure being designed for each pattern in advance, helping Affirm find more signal in existing data. Built for decisions at checkout Building a better model was only part of the challenge. Affirm built a proprietary algorithm that produces the same level of explainability as traditional machine learning models, while keeping the model fast enough for real-time use. Validation and ongoing monitoring help ensure the model's explanations are accurate and reliable. "Underwriting is the heart of what we do," Michalek added. "The goal isn't to approve every transaction, it's to make the right decision for each one. We don't benefit from extending credit that can't be repaid, which means saying yes to more people only works when we get even better at saying no." About Affirm Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network - one based on trust, transparency, and putting people first - Affirm, Inc. empower millions of consumers to spend and save responsibly and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, Affirm, Inc. never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | X.
Costco UK members gain a new way to pay with Affirm. September 15, 2026 Costco is expanding its partnership with Affirm to give its members in the UK a new way to pay over time with no late or hidden fees. Whether stocking up on household essentials or investing in the latest technology, eligible Costco members shopping online can now choose Affirm at checkout and split the cost of their purchases into interest-free or interest-bearing monthly payments. Today's announcement builds on the successful partnership between Affirm and Costco in the US, where hundreds of thousands of Costco members have used Affirm since the partnership launched in 2025. "Getting the best value shouldn't stop at the price tag. It should extend to how you pay, too," said Ruth Spratt, UK Country Manager at Affirm. "Our partnership with Costco gives UK members a simpler way to spread the cost of those big shops, with greater flexibility, no late fees, and no compounding interest." Affirm underwrites every transaction individually, making a real-time credit decision and only approving shoppers after an assessment of their ability to repay. Customers always see the total cost of their purchase upfront and never pay more than they agree to. About Affirm Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network - one based on trust, transparency, and putting people first - Affirm, Inc. empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, Affirm, Inc. never charge any late or hidden fees. Affirm is a form of credit, subject to credit check and a minimum spend. Terms apply. U.K. residents, 18+ with a bank account or debit card. Missed payments may affect your financial status. Affirm UK Limited provides consumer credit products and is authorised and regulated by the Financial Conduct Authority ("FCA") for carrying out regulated consumer credit activities (firm reference number 756087). Company number 10199101, with its registered Office is at C/O TMF Group, 1 Angel Court, 13th Floor, London, EC2R 7HJ. Affirm is the trading name of Affirm UK Limited. About Costco Online Costco Online UK Limited is an appointed representative (firm reference number 1056750) of Costco Wholesale UK Limited of 213 Hartspring Lane, UK Home Office, Watford, Hertfordshire, WD25 8JS. Costco Wholesale UK Limited is authorised & regulated by the FCA (firm reference number 735258). Media Contacts
Affirm shares fell 4.3% to $68.85 after Loop Capital Markets initiated coverage with a Buy rating and $105 price target. The decline came despite the positive analyst outlook, as broader consumer fintech stocks traded lower. The drop follows strong second-quarter results reported 12 days earlier, when Affirm beat expectations with revenue of $1.17 billion, up 33% year-over-year, and GAAP profit of $4.62 per share. The company also issued upbeat third-quarter guidance of $1.21 billion in revenue, exceeding analyst estimates. Affirm is down 7% year-to-date and trading 25.3% below its 52-week high. The buy now, pay later company's shares have shown high volatility, with 45 moves greater than 5% over the past year.
Why Affirm (AFRM) shares are falling today. Kayode omotosho /. September 9, 2026 What happened? Shares of buy now, pay later company Affirm (NASDAQ:AFRM) fell 4.7% in the afternoon session after Loop Capital Markets analyst Reginald Smith initiated coverage with a Buy rating and a $105 price target, even as consumer fintech shares traded lower. According to TipRanks, Loop Capital launched coverage on September 8 with that $105 Buy, favoring Affirm over SoFi, which the firm rated Hold. TipRanks shows a Strong Buy consensus and an average target of about $100.46, so the Loop mark is in line with the bullish camp. The constructive call was not enough to offset broader weakness in consumer fintech. After the initial drop, the shares shed some of the losses and rose to $68.85, down 4.3% from the previous close. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Affirm? Access our full analysis report here, it's free. What is the market telling us. Affirm's shares are extremely volatile and have had 45 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 12 days ago when the stock gained 5.3% on the news that the company reported second-quarter 2026 financial results, beating Wall Street's revenue and earnings expectations. According to a company press release, Affirm generated revenue of $1.17 billion, up 33% year over year, and delivered GAAP profit of $4.62 per share alongside pre-tax profit of $169.1 million. Both figures came in well ahead of Wall Street expectations, with revenue topping analyst estimates of $1.11 billion and EPS significantly surpassing consensus forecasts of $0.35. The company's pre-tax profit margin expanded to 14.5%, up 6.3 percentage points from the prior year. Looking ahead, Affirm projected third-quarter 2026 revenue of $1.21 billion at the midpoint, representing a 29.1% increase year over year. That guidance also came in above analyst estimates of $1.16 billion, bolstering investor confidence in the company's growth trajectory. Affirm is down 7% since the beginning of the year, and at $68.85 per share, it is trading 25.3% below its 52-week high of $92.18 from September 2025. Investors who bought $1,000 worth of Affirm's shares 5 years ago would now be looking at only $747.85. ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you're unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.