Regulatory Counsel, Lending Club
$135-180k
OTE
+ Bonus + Equity
More information about location
3+ days a week in office
Online personal loans
Open for applications
Online personal loans
1001+ employees
Open for applications
$135-180k
OTE
+ Bonus + Equity
More information about location
3+ days a week in office
1001+ employees
Company mission
To transform the banking system to make credit more affordable and investing more rewarding.
Role
Who you are
- You must have strong oral and written communication skills, excellent interpersonal and influencing skills, an ability to anticipate and deliver legal support to satisfy the needs of dynamic business teams, and the flexibility to manage a variety of assignments at a time
- 3+ years of experience, J.D. degree, and a state bar membership in good standing
- Combined law firm, government and/or in-house legal department experience in a bank or financial technology company (with direct experience in these areas). In-house experience with a bank, fintech, or credit union preferred
- You should have at least 2 years of experience in consumer finance law and regulations
- You must have demonstrated experience advising on some or all of the following laws and regulations: TISA/Regulation DD; Funds Availability/Regulation CC; TILA/Regulation Z; ECOA/Regulation B; FCRA/Regulation V; EFTA/Regulation E; ESIGN; FDCPA/Reg F; GLBA/Regulation P; UDAAP; and/or state law analogues
- You adapt well to a rapidly changing business environment and thrive on innovation and change
- You are comfortable in a legal support role that extends beyond delivery of advice to getting involved in the hands-on execution and implementation of legal advice with business partners
- You can manage multiple transactions or tasks, take on new responsibilities, and advise on novel issues
- You have the proven ability to develop collaborative relationships with internal partners and external customers, with comfort interacting with and influencing colleagues across departments and job levels
- You have a high level of integrity and are able to have candid conversations with business leaders in support of your position if needed
- You adapt style to differing audiences and often advise others on difficult matters
What the job involves
- LendingClub’s Legal Department is seeking a talented and team-oriented attorney to join our team
- This role requires high-quality legal analysis and exceptional judgment
- You will deliver strategic and tactical legal support primarily for LendingClub Bank’s consumer deposit and lending products
- You will assist in monitoring and analyzing federal, state, and local regulatory developments concerning consumer banking products and operations and other activities that may impact our bank and marketplace, and engage with our business partners to ensure understanding of the same and operational readiness
- You will serve as a trusted advisor and partner to customer-facing teams and operations teams, such as customer experience teams, customer service teams, banking operations teams, including providing support related to LendingClub’s digital platforms and services, client relationship matters, customer complaints and non-standard client requests and escalations
- You will serve as a trusted advisor and partner to business teams, including advising and partnering on the development of new products and services, training and advising on consumer finance laws and regulations applicable to our business, third party management activities, reviewing marketing materials and advising on product and customer servicing and collections matters
- You will partner with our Compliance and Risk teams to ensure comprehensive risk support for the consumer banking products we offer including the management of internal and external compliance reviews and examinations, and regulatory exams by government agencies
- You will collaborate with team members to identify issues and improve existing processes and procedures to ensure consistent interpretation and application of legal requirements across LendingClub Bank’s product suite
- You will drive and support other matters in support of LendingClub Bank’s strategic objectives
- You will assist the Legal Department in support of any other assignments that you may be asked to help with
- You assess unusual circumstances and use sophisticated analytical and problem-solving techniques to identify cause
- You devise solutions based on limited information and precedent and adapt existing approaches to resolve issues
Our take
Lending Club is a digital bank offering personal loans, auto loan refinancing, and debt consolidation to help individuals manage their finances. It provides flexible loan terms and competitive rates for a variety of needs, as well as high-yield saving and cash-back checking accounts, designed to help customers grow their money.
Focusing on digital solutions, Lending Club removes traditional brick-and-mortar branches, passing the savings on to customers through low fees and better rates. It connects borrowers with investors in a marketplace model and offers fast loan approvals and competitive interest rates.
To bolster its offering, the company acquired Tally Technologies' intellectual property (IP) to enhance its credit management services. It continues to develop and enhance its products and improve customer engagement in a bid to become a "top of mind" company with more active users.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-8% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Apr 2014
$65m
GROWTH EQUITY VC
Nov 2013
$57m
GROWTH EQUITY VC
Total funding: $332m
Company benefits
- Untracked vacation for salaried employees, which means take it when you need it, and generous paid time off for hourly team members
- A hybrid work model that balances in-office and work from home
- Leading health and safety protocols related to COVID, including complimentary at-home testing kits from Cue Health for those coming to the office
- Up to 16 weeks paid leave for new parents, plus a fully paid, phased return-to-work policy for qualified leaves
- Mothers Rooms and hospital-grade pumps in every LC office
- Generous and varied mental health benefits
- Wellness program with cash incentives — earn up to $75 per month for being active
- Paid volunteer time and donation matching
- Onsite gym, locker room, bike room, and fitness classes (depending on location)
- Café with our own in-house barista
- Stocked pantries with healthy snacks and drinks
- Technology-forward and collaborative office spaces
Company HQ
South Beach, San Francisco, CA
Leadership
Scott Sanborn
(CEO)Previously held leadership positions as the Chief Revenue Officer for publicly traded eHealth Insurance, President of RedEnvelope, Inc., and SVP at the Home Shopping Network. Joined LendingClub in 2010 and has worked as Chief Marketing Officer, Chief Operations Officer, and President before becoming the CEO in 2016.
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