BEIIJING, Jan. 7, 2016 /PRNewswire/ -- Yirendai Ltd. (NYSE: YRD) ("Yirendai" or the "Company"), a leading online consumer finance marketplace in China, today announced the appointment of Chaomei Chen, former Chief Risk Officer of LendingClub, as a member of the Company's Advisory Committee, effective January 7, 2016. Ms. Chen will provide strategic advice and insight to Yirendai's senior management team on a broad range of issues including risk management, credit analysis, technology and business operations.
"I am proud to announce that Chaomei Chen has joined Yirendai as a member of the Advisory Committee," said Mr. Ning Tang, Yirendai's Executive Chairman. "Chaomei brings over 25 years of experience of credit and risk management in the banking and financial services industry, which will provide significant value to the Company across a wide range of issues related to our business."
Ms. Chen added, "I see enormous potential in Yirendai as a leading player in China consumer finance industry with their innovative business model and corporate culture which I am strongly attracted to. I am excited to join the Advisory Committee and to help the Company grow."
Chen has previously served as Chief Risk Officer of LendingClub and was responsible for the establishment of the credit and risk management organization. Before LendingClub, She oversaw all risk management functions for the WaMu credit card portfolio at JP Morgan Chase. Prior to JP Morgan and WaMu, Chen was Vice Chairman and Chief Credit Officer at Providian Financial Services, where she was instrumental in turning around Providian before its acquisition by Wamu. Her experience also includes executive positions with Fleet Credit Card Services and PNC National Bank, and management positions with Citicorp, American Express and Household Credit Services. During her career, Chen has overseen the business and credit risk for portfolios at multi-billion dollar levels and has given direction to large scale operations domestically and internationally, including Credit Risk Management, Business Risk Management, Collections, Fraud Prevention, BASEL implementation and database marketing.
Chen graduated with a BS degree in mathematics from The Southwestern Jiaotong University in China and earned an MSE degree in mathematical science from The Johns Hopkins University.
About Yirendai Ltd.
Yirendai (NYSE: YRD) is a leading online consumer finance marketplace in China connecting investors and individual borrowers. The Company provides an effective solution to address largely underserved investor and individual borrower demand in China through an online platform that automates key aspects of its operations to efficiently match borrowers with investors and execute loan transactions. Yirendai deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yirendai's online marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns.
For more information, please visit http://yirendai.investorroom.com
For investor and media inquiries, please contact:
Mr. Christian Arnell
Phone: +86-10- 5900-1548
Ms. Linda Bergkamp
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SOURCE Yirendai Ltd.