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Annie Armstrong joins LendingClub as Chief Risk Officer

San Francisco based LendingClub Corporation, an online lending marketplace connecting borrowers and investors announced that it has selected Annie Armstrong to serve as the company’s Chief Risk Officer (CRO). The firm has also announced the change of role of the current CRO, Tim Bogan to a new role as Chief Banking Integration Officer to focus on the planning, process, systems, and organisational design work required to complete the LendingClub’s acquisition of Radius Bank.

“Tim spearheaded all of the work that led us to this critical point. His long tenure with the company, understanding of the regulatory and government framework over fintech, and his past experience in banking makes him the perfect person to guide us in achieving this critical next step,” said Scott Sanborn, CEO of LendingClub.

Bogan joined LendingClub to lead the Internal Audit function and subsequently took on the role of Chief Risk Officer in 2016. As CRO, he built a rigorous control and compliance infrastructure, including building out the three lines of defence architecture at the company. Before LendingClub, Bogan held senior roles at PricewaterhouseCoopers, Charles Schwab, Levi Strauss, and Freddie Mac. He has over 30 years of experience in audit, risk management,  IT, business transformation and optimisation, regulatory compliance, and operational and financial controls implementation.

Armstrong will join on March 16 and will transition in partnership with Bogan until formally assuming the role on July 1.  She will be reporting directly to Scott Sanborn and will be overseeing all risk functions in addition to Security and Compliance. Bogan will be directly reporting to the CEO.

Armstrong is joining LendingClub with over 20 years of experience in building, defending, and auditing risk management structures for financial services institutions. Previously she served as Global Head of Financial Risk for Uber. Prior to that, she was a KPMG partner serving as the Global Leader for Marketplace Lending as well as co-leading the FinTech practice in the United States.

“I know LendingClub and this industry intimately and I’m thrilled to join a company that is reimagining banking. As the Lead Partner for LendingClub while at KPMG, I worked shoulder to shoulder with the company’s Internal Audit, Compliance, and Risk teams from the company’s inception. As LendingClub continues its journey toward becoming a financial health platform with its recent acquisition of Radius Bank, the company’s need to partner with regulators increases in a more meaningful way and my background and expertise will become even more beneficial,” said Annie Armstrong.

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