Corporate Legal Counsel, Prosper Marketplace
Capital Markets
$165-241k
Plus bonus
Online P2P lending marketplace
Be an early applicant
Online P2P lending marketplace
201-500 employees
Be an early applicant
$165-241k
Plus bonus
201-500 employees
Company mission
To advance financial wellbeing by providing affordable financial solutions to consumers across the credit spectrum.
Role
Who you are
- 4+ of law firm and/or in-house experience with increasing responsibility
- Experience in capital markets and structured finance
- Experience leading transactional negotiations
- Strong interpersonal skills with the ability to collaborate effectively across teams and stakeholders in a fast-paced environment
- Strong judgment and the ability to balance legal risk with practical business objectives
- Demonstrated ability to take ownership and resolve issues with minimal supervision
- Attention to detail, with excellent organizational skills and strong work ethic
- Proven ability to manage multiple projects concurrently in an evolving environment
- Effective and persuasive written and oral communication skills
- J.D. degree and active membership in good standing with a state bar
What the job involves
- We are seeking a highly motivated attorney with experience in structured finance / secured lending to join our legal team as Corporate Counsel
- This person will play a key role in Prosper’s business, partnering closely with our Capital Markets team on a broad range of transactional matters related to our unsecured personal loan and credit card products, including institutional loan sales and servicing, credit facilities, securitizations and advising on operations, marketing and strategy related to Capital Markets
- This attorney is collaborative, able to thrive in a fast-paced, complex environment, and is comfortable advising all levels of the business and management on relevant legal issues
- This role will report to the Assistant General Counsel
- Provide creative legal solutions for complex Capital Markets transactions, such as credit facilities and securitizations
- Review and negotiate transaction documents for new clients, including agreements for the sale and servicing of unsecured consumer loans
- Advise Capital Markets on non-disclosure agreements, engagement letters and transaction agreements
- Review and negotiate contracts for existing clients, including multi-party agreements with leverage providers, account control agreements, asset transfer agreements, and back up servicing agreements
- Provide ongoing guidance and support to Capital Markets team for interpretation of existing agreements and client communications
- Track and manage investor relationships on the platform, including monitoring key contract details, obligations, and requirements across investor agreements
- Coordinate and execute closings of large transactions
- Support the Collections and Recoveries teams by facilitating debt sale transactions, including negotiating, drafting, and managing debt sale agreements and related documentation
- Manage and negotiate contracts and ongoing commercial relationships with bank partners, including program agreements, amendments, and related ancillary agreements
- Advise on related strategic, operational and marketing matters
- Provide support to the legal team on other commercial agreements, as needed
- First 30 Days:
- Learn Prosper’s business, products, and capital markets operations; build key relationships
- By 60 Days:
- Develop substantive expertise in Prosper’s capital markets transactions; begin handling matters with increasing independence
- By 90 Days:
- Operate as the go-to legal resource for capital markets transactions; manage workstreams independently and advise on strategic matters
Our take
Prosper is a peer-to-peer lending platform that connects investors with borrowers directly. When it launched in 2005, it was the first of its kind and paved the way for the now crowded peer-to-peer lending market, which includes competitors like Peerform, Upstart, Funding Circle and LendingClub.
The company provides an attractive option by cutting out the middleman and making applications faster, meaning that socially and financially rewarding investments can be made. Prosper is one of the largest and most recognized in this industry, having facilitated billions in loans to over two million borrowers.
In more recent years, Prosper has forged ties with banks to allow it to launch its home equity credit line, indicating a new direction for the company. It continues to develop its offering and remains a force in the market, with no reason to believe it won't continue to succeed.
Freddie
Company Specialist at Welcome to the Jungle
Insights
2% employee growth in 12 months
Company
Funding (last 2 of 10 rounds)
Sep 2017
$50m
SERIES G
Jan 2013
$20m
LATE VC
Total funding: $153.8m
Company benefits
- Take-what-you-need (paid) vacation for salaried employees
- 20 days of PTO and 7 paid holidays/year for hourly employees
- Stock options
- 401K retirement savings plan with generous matching
- Comprehensive health, dental and vision insurance plans, with options specific to your own health coverage needs
- Prosper Fit - A monthly stipend to use for gym memberships, personal training sessions, yoga and exercise classes, or club sports/fitness fees
- Pre-tax commuter/parking assistance
- Snacks and beverage selections in our kitchen
- Monthly meet-and-greet happy hours
- Perkspot discount programs
- One Medical
- SF Location - Rooftop deck with ping-pong and foosball table
Company HQ
Financial District, San Francisco, CA
Leadership
David Kimball
(Chairman & CEO)Having studied for an MBA at Brigham Young University, David worked in Management at Ford Motor Company for over 10 years, prior to spending another decade at USAA. He left his role as CFO and COO to join Prosper Marketplace in March 2016 as CEO and Chairman.
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