Assistant General Counsel, Lending Club
Regulatory
$160-230k
The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings) and equity
More information about location
3 days a week in office
Online personal loans
Job no longer available
Online personal loans
1001+ employees
Job no longer available
$160-230k
The position is also eligible to receive a bonus (which is based on company performance, employee performance and eligible earnings) and 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
- This role requires high-quality legal analysis and exceptional judgment
- 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 a dynamic business team, and the flexibility to manage a variety of assignments at a time
- J.D. from an accredited law school and licensed, in good standing, in one or more states to practice law (not necessary to be licensed in the states where LendingClub has offices)
- You must have at least 10 years of combined law firm, government and/or in-house legal department experience, preferably with experience managing other people, and at least 8years of experience in consumer finance law and regulations with a preference for at least part of the 5 years in-house at a bank, credit union or fintech
- You must have demonstrated experience advising on some or all of the following laws and regulations: TILA/Regulation Z; ECOA/Regulation B; FCRA/Regulation V; BSA/AML; EFTA/Regulation E; TCPA, TSR, CAN-SPAM, and/or state law analogues; FDCPA and/or state law analogues; UDAAP; and GLBA/Regulation P
- 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
What the job involves
- You will deliver strategic and tactical legal support for all aspects of our activities in the consumer finance industry and across all stages of our members’ experiences
- 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 and other laws and regulations applicable to our business, third party management activities, marketing materials, and drafting and negotiating partnership and other business agreements
- You will assist in monitoring and analyzing federal, state, and local regulatory developments concerning lending, servicing, and other activities that may impact our marketplace and engage with our business partners to ensure understanding of the same and operational readiness
- You will partner with our Compliance team to ensure comprehensive risk support, including assisting in the investigation of and response to consumer complaints and the management of internal and external compliance reviews and examinations, including 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’s marketplace
- You will drive and support other matters in support of LendingClub’s strategic objectives
- You will assist the Legal Department in support of any other assignments that may be delegated to you
- You may manage other legal team members and support them in accomplishing some or all of the above responsibilities and objectives
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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