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.
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.
OnDeck, the OnDeck logo, OnDeck Score and OnDeck Marketplace are trademarks of On Deck Capital, Inc.