NEW YORK, Nov. 30, 2016 /PRNewswire/ -- OnDeck® (NYSE:
ONDK), the leader in online lending for small business, today
announced the appointment of Nick
Brown as the company's Chief Risk Officer. In this
newly created role, Brown will oversee OnDeck's credit and risk
management strategy and execution, including credit and operational
risk controls, portfolio monitoring, and the further development
and optimization of OnDeck's credit scoring models and credit
policy.
Brown joins OnDeck from Commonwealth Bank of Australia (CBA), one of the world's largest
banks, where he most recently served as the General Manager of the
Group Decision Sciences team, and earlier as the General Manager of
Group Portfolio Optimization. Prior to CBA, Brown ran the
consumer lending business at Discover Financial Services (DFS),
where he grew the Personal Loan book while simultaneously improving
credit quality. While at DFS, he also led the acquisition of
the Student Lending Company from Citigroup. During the financial
crisis, Brown oversaw Portfolio Risk management and then
Acquisition Risk Management for DFS, helping create a highly
durable risk management approach. He has worked across numerous
functions in the last 18 years including IT, Marketing, Risk,
Operations and Procurement, applying to each a unique combination
of analytic focus, technology innovation and business operations
pragmatism. Brown held earlier roles at MBNA and Capital One, and
holds a PhD in Organizational Behavior and Statistics from
Cornell University.
"Nick Brown brings a wealth of
experience in audit, compliance, credit, and enterprise risk
management with diversified and complex financial institutions. His
extensive knowledge and credit experience will be a great asset to
OnDeck as we continue our focus on making sound decisions in a
changing financial and regulatory environment," said Noah Breslow, CEO, OnDeck. "Credit performance
is paramount to the health of our business and critical for
sustaining our leadership in the market. As our Chief Risk
Officer, Nick will be a crucial member of our leadership team in
fostering a strong risk culture that helps responsibly grow our
business."
"I am thrilled to join OnDeck at this exciting time for the
company and the online lending industry," said Brown. "I look
forward to assisting OnDeck to manage risk and support healthy
growth."
Brown will report to CEO Noah
Breslow and serve as a member of OnDeck's senior management
team.
About OnDeck
OnDeck® (NYSE: ONDK) is the leader in online small business
lending. Since 2007, the Company has powered Main Street's growth
through advanced lending technology and a constant dedication to
customer service. OnDeck's proprietary credit scoring system – the
OnDeck Score® – leverages advanced analytics, enabling OnDeck to
make real-time lending decisions and deliver capital to small
businesses in as little as 24 hours. OnDeck offers business owners
a complete financing solution, including the online lending
industry's widest range of term loans and lines of credit. To date,
the Company has deployed over $5
billion to more than 60,000 customers in 700 different
industries across the United
States, Canada and
Australia. OnDeck has an A+ rating
with the Better Business Bureau and operates the educational small
business financing website www.businessloans.com. For more
information, please visit www.ondeck.com.
OnDeck, the OnDeck logo, OnDeck Score and OnDeck Marketplace are
trademarks of On Deck Capital, Inc.
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SOURCE On Deck Capital, Inc.