Assistant General Counsel, Upstart
Structured Finance
$285-315k
Plus bonus & equity
More information about location
AI lending marketplace
Open for applications
AI lending marketplace
1001+ employees
Open for applications
$285-315k
Plus bonus & equity
More information about location
1001+ employees
Company mission
To enable effortless credit based on true risk.
Role
Who you are
- J.D. degree with solid academic credentials and a state bar membership (CA or NY preferred)
- 7+ years of experience with a minimum of 3 years at a top-tier law firm; experience with asset-backed securitizations, secured and unsecured lending and credit facilities
- Strong communication skills with a demonstrated ability to effectively and proactively provide quick, concise, and practical legal advice
- Eager to develop expertise in new or unfamiliar areas of law
- Adaptability, willingness to be flexible and excited to work in a dynamic and fast-paced environment
Desirable
- Experience setting up joint ventures, co-investments or funds; experience negotiating against or working with large private equity / credit funds
- Prior in-house experience at a fintech company
- Experience managing other attorneys
- Self-starter who thrives under limited direction and is excited by challenges
What the job involves
- As Assistant General Counsel you will lead and negotiate complex structured finance transactions, including capital markets transactions, warehouse facilities, JV structures, and complex purchase and servicing agreements
- Lead and support negotiations on complex structured financing transactions
- Work closely with our capital markets, finance and accounting teams to structure novel deals with key investors in order to ensure capital commitments for Upstart
- Support and grow a team of attorneys who can adeptly tackle this work
- Provide legal and strategic guidance to assess and mitigate legal risk by building a deep understanding of the business and collaborating with internal clients, including accounting, data analytics, product, treasury, operations and tax
Our take
Business startups across the world usually seek out funding, but this is often difficult for companies led by millenials. Millennial entrepreneurs with an excellent track record in business are increasingly requiring access to these loans, but their lack of credit history results in proposals frequently being declined.
Upstart provides loans that are aimed towards the target audience of millennials with entrepreneurial intentions, offering low interest rates that average at 12%. The company claims these rates are 10% lower than traditional lenders, and the service aims towards ensuring that the client is subject to no further fees (such as prepayment penalties).
Upstart claims that its unique selling point lies in the fact that its loans are funded the day after approval. Whilst the service focuses on personal loans for business, the company has also expanded to offer loans for car refinancing. Over 2022 and 23, Upstart's stocks fell dramatically and an investigation was undertaken by a law firm representing the company's long-term investors over alleged security law violations by its board of directors. However, the end of 2023 saw a 20% stock value rise for Upstart after its partnership with Mutual Security Credit Union led to a rise in customers, indicating that it is on the up after a difficult two years.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
-16% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Apr 2019
$50m
SERIES D
Mar 2017
$32.5m
SERIES D
Total funding: $135.7m
Company benefits
- Comprehensive health plans
- 401k Plan
- Life insurance
- Disability insuranc
- Generous vacation policy
- Flexible time off
- Parental leave
- Technology equipment budget
- Personal development budget
- Various clubs and extracurricular activities
- Catered lunches
- Fully-stocked micro-kitchen
Company values
- Every second counts
- Do the right thing even when it's hard
- Make clever use of numbers
- Be smart and know you might be wrong
- Don't assume it can be done
Company HQ
South San Mateo, San Mateo, CA
Articles
Leadership
David Girouard
(CEO)They started their career at Accenture and Booz Allen & Hamilton before working in Product Management at Apple and Virage. They left their role of 8 years as President of Enterprise at Google to found Upstart in March 2012.
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