On Deck Capital Inc (NYSE:ONDK) 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. (Original Source)
Shares of On Deck Capital closed yesterday at $4.61, down $0.06 or -1.28%. ONDK has a 1-year high of $12.85 and a 1-year low of $3.64. The stock’s 50-day moving average is $4.86 and its 200-day moving average is $5.44.
On the ratings front, On Deck Capital has been the subject of a number of recent research reports. In a report issued on November 17, Jefferies Co. analyst Brian Fitzgerald reiterated a Hold rating on ONDK, with a price target of $5.40, which implies an upside of 17% from current levels. Separately, on November 4, J.P. Morgan’s Richard Shane reiterated a Hold rating on the stock and has a price target of $5.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brian Fitzgerald and Richard Shane have a yearly average return of 12.2% and 11.9% respectively. Fitzgerald has a success rate of 67% and is ranked #159 out of 4241 analysts, while Shane has a success rate of 81% and is ranked #223.
Overall, 8 research analysts have assigned a Hold rating and . When considering if perhaps the stock is under or overvalued, the average price target is $5.73 which is 24.3% above where the stock closed yesterday.
On Deck Capital, Inc. engages in online small business lending. It offers financing solution for small businesses, including short term loans, long term loans and lines of credit. Its proprietary data and analytics engine aggregates and analyzes the online and offline data attributes and the relationships among those attributes to assess the creditworthiness of a small business in real time.