Commercial Counsel, Upgrade
$205-230k
+ Stock option plan
Offering responsible credit to mainstream consumers
Open for applications
Offering responsible credit to mainstream consumers
1001+ employees
Open for applications
$205-230k
+ Stock option plan
1001+ employees
Company mission
To help our customers move in the right direction with responsible financial products that put more money in their pocket.
Role
Who you are
- JD degree from an accredited US law school and current member in good standing with a US state bar
- 4-5 years of experience reviewing, drafting and negotiating a wide variety of contracts at a law firm and/or an in-house commercial legal team
- Sound understanding of legal principles and contract law
- Proven track record of communicating complex contract issues effectively and collaborating with internal and external stakeholders
- Exceptional project management and time management acumen
- Ability to adeptly handle multiple contracts concurrently while maintaining a focus on efficient prioritization
- Excellent analytical and problem-solving skills with meticulous attention to detail
- Eagerness for learning new knowledge in the ever-evolving fintech landscape, demonstrating a genuine curiosity for fintech innovations and contractual frameworks
- Ability to work independently, take ownership of tasks, and meet deadlines
What the job involves
- The Commercial Counsel is a key member of Upgrade’s legal team in San Francisco. In this role, you will help drive commercial contract review and execution, build effective cross-functional working relationships, and work closely with internal and external stakeholders to meet business objectives and protect the company from risk.
- As a member of legal, you’re at the forefront of innovation and product iteration - we play a key role helping teams explore new ideas and realize goals. That means you’ll learn a lot and have ample opportunity to apply it. We’re also team-oriented and will eagerly share information and resources. *Preferred locations: SF Bay area, Orange County, CA, Atlanta, GA, or Dallas, TX. Hybrid work schedule: Tu/Thu in office required for candidates in the SF Bay Area, Orange County, Atlanta, and Dallas
- Manage the end-to-end contract negotiation process for assigned contracts, from initial drafting and review through negotiation and execution for contracts such as vendor/procurement agreements, purchase and servicing agreements, marketing and referral partnership agreements
- Learn the nuances of Upgrade’s products and work closely with the product team to achieve their commercial goals
- Collaborate with internal stakeholders, including legal, finance, vendor management, and business teams, to ensure contracts meet business objectives and risk appetites
- Provide guidance and support to internal teams on contract-related matters, including interpretation and clarification of terms and risk exposure
- Ensure adherence to company policies, procedures, and legal requirements during contract negotiation
- Build trust and manage conflicting demands from multiple business clients
Our take
Most credit cards don't encourage the owner to pay down their debt. The longer it takes to pay off the balance, the more money lenders are set to make. Upgrade is an online lender and card issuer doing things differently. The company offers personal loans and credit cards but with a fixed instalment structure and a set number of equal payments. This ensures the balance reduces every month.
The company believes this model reduces default rates, as borrowers are forced to pay down rather than maintain their debt, and it encourages a greater commitment to repay the balance. Further, by combining the ease of a Visa card with the fixed payments and decreased rates of a personal loan, Upgrade sets itself apart from competitors.
In 2021, Upgrade launched its mobile banking and debit card as a strategy to onboard new customers and increase loyalty. The fixed-rate nature of the company's cards is expected to be of use to customers in future years in an environment of rising rates. Upgrade also plans to expand beyond the U.S. in the future, which will represent new challenges for the business as it adapts to alternative regulations.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
18% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Nov 2021
$280m
SERIES F
Aug 2021
$105m
SERIES E
Total funding: $547m
Company benefits
- Stock option plan
- 100% paid coverage of medical, dental and vision insurance
- Flexible PTO
- Opportunities for professional growth and development
- Paid parental leave
- Health & wellness initiatives
Company values
- Help: We help each other. We trust and care about each other. We welcome all team members and value the diversity of our team
- Improve: We are always learning. We are curious and ask why. We are open-minded and consider new ideas. We continually look to improve the way we operate
- Fast: We move fast. We launch products and process early, then test and iterate. We think ahead so that we are not rushing into things we are not prepared for. We work together to fix anything that breaks
- Own It: We act as owners. We enlist the help we need and follow through to the end. We acknowledge our mistakes and learn from them. We hold ourselves accountable as a team to reach our goals
Company HQ
Financial District, San Francisco, CA
Articles
Leadership
Renaud Laplanche
(Co-Founder & CEO)After an MBA at London Business School, Renaud spent 5 years as an Associate at Clearly Gottlieb Steen & Hamilton and co-founded MatchPoint. They then left Oracle after a year to co-found Lending Club in 2006 and co-founded Upgrade in August 2016.
Adelina Grozdanova
(Co-Founder & Head of Investor Group)Adelina started their career with 6 years at Morgan Stanley after a degree at Princeton. They left banking in 2012 to join Lending Club as VP, and after 3 years co-founded Upgrade, serving as Head of Investor Group since 2016.
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