SHERMAN OAKS, Calif., Oct. 24, 2019 /PRNewswire-PRWeb/ -- LendingUSA, a leading point-of-sale (POS) fintech company today announced the new hire of Jon Barhorst as its Chief Risk Officer. Barhorst joins LendingUSA on the heels of its recent announcement and closing of a new $250 million financing package and comes at a time of continued growth and new product development at the company.
Jon will report to CEO Camilo Concha, and will be responsible for the company's credit policy, pricing, merchant underwriting and performance management. He will also lead LendingUSA's credit risk organization.
Jon has more than 30 years' experience in the financial services industry with a specific focus on point-of-sale financing. In his most recent prior role, Jon served as Synchrony's SVP, Portfolio Insights & Strategy where he was responsible for developing new tools to provide deeper portfolio insights, supported the Synchrony Ventures Investment and M&A activities, and spearheaded Community Reinvestment (CRA) risk tolerance.
He previously also held the position of Chief Credit Officer at Synchrony where he was responsible for overseeing its $50B Retail Card Platform. Jon's deep expertise in consumer finance has been credited for providing stability for the GE/Synchrony business during its challenging economic climate. As such, in 2009 he was recognized for "Risk Excellence" by the Chairman and CEO of GE Capital for his contribution to the success of the business.
"Jon brings with him a wealth of experience that will be crucial to elevate our company to the next level. Jon has a deep understanding of our industry and will be instrumental in enhancing our credit & risk strategy", said Camilo Concha, Chief Executive Officer of LendingUSA.
He began his career in 1985 with Bank One in Dayton, OH, and helped it grow into the Banc One Private Label Credit Corporation. After GE acquired The Banc One private label business in 1998, he held several leadership roles in Risk Management, which led to being promoted to Chief Risk Officer in 2002 for the Payment Solutions and CareCredit segments of GE Capital's U.S. Consumer Retail Finance organization.
"I'm excited for the opportunity to expand on LendingUSA's current product pricing, risk and credit policies. I'm looking forward to engaging with the rest of the team to continue to scale the company", said Jon Barhorst, Chief Risk Officer of LendingUSA.
As a deeply engaged member of his local community; Jon sits on the Kettering/Moraine/Oakwood Chamber of Commerce and Oakwood City School's Business Advisory Boards. Additionally, Jon is an international advisor for TopNotePad and BuildStar and maintains a strong affiliation with the Agastya International Foundation in Kuppam, India where he recently was appointed as a board member of the U.S. affiliate.
Jon holds a Bachelor of Business Administration degree, achieved with distinction, from Ohio University. Jon and his wife Lori live in Oakwood, Ohio and have four children.
With this latest addition to LendingUSA's executive team, the company is positioned to continue its growth path and fast track the development and enhancements of its financing services program.
About LendingUSA
LendingUSA an award-winning fintech company that offers smart financing solutions to consumers in specialty markets including the elective medical industry, dental care, pets, funerals, and more. LendingUSA is committed to create the best financing experience available, through its proprietary point-of-sale lending solution. LendingUSA works closely with its merchant partners, providing the tools and training they need to easily and efficiently maximize customer financing approvals and grow their business. All loans are made by Cross River Bank, a New Jersey state chartered bank, Member FDIC. For more information, visit http://www.lendingusa.com.
SOURCE LendingUSA
Share this article