Head of LCA Legal
About Lending Club
LendingClub Corporation (NYSE: LC) (“Lending Club”) opened in 2007 with one simple mission: create a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. Since then, we’ve built a trusted brand with a track record of delivering exceptional value and satisfaction to both borrowers and investors. Today, we’re the world’s largest online credit marketplace, and we’re radically changing the way lending operates – $1 billion at a time.
LC Advisors, LLC (“LCA”) is an investment adviser registered with the SEC and a wholly-owned subsidiary of Lending Club, founded in 2010. It manages private funds and separately managed accounts and seeks to provide low-cost, passive access to marketplace lending assets facilitated on the Lending Club platform.
Lending Club’s Legal Department is seeking talented candidates for an opportunity to become Head of LCA Legal. Based in San Francisco, CA, this will be the lead lawyer for LCA and will help it to identify innovative opportunities in the funds space. He or she will provide advice and counsel on a LCA’s day-to-day and strategic legal issues. This lawyer will report to Lending Club’s General Counsel, Russ Elmer.
The successful candidate will have outstanding communication, interpersonal and project management skills. This lawyer must anticipate and deliver on the needs of Lending Club’s fast-paced and innovative business. He or she will also be comfortable working with cross-functional teams and have the flexibility to manage a wide range of innovative projects proficiently.
- Provide general advice and support under the Investment Advisor’s Act of 1940, the Investment Company Act of 1940, ERISA and related federal securities laws;
- Assist in structuring, organizing and maintaining private funds;
- Draft and review disclosure documents, offering materials, side letters, marketing materials and client communications;
- Coordinate complex projects and assist in identifying and implementing innovative solutions to achieve business growth;
- Support special projects, including the development and launch of new funds and investment products;
- Assist with general corporate legal matters relating to investment funds, including preparation and submission of SEC filings and fund governance;
- Participate in industry advocacy related to investment advisory matters;
- Collaborate with the in-house legal team on cross-functional matters;
- Develop strong, collaborative partnerships with Lending Club’s operations, finance and external reporting teams; and
- Escalate issues, as appropriate, and partner collaboratively to identify issues and develop solutions with colleagues.
- J.D. with superior academic credentials;
- State bar member in good standing;
- At least 10 years of combined law firm, government agency and in-house legal department experience, demonstrating increasing levels of responsibility; relevant in-house experience is absolutely required;
- Fund formation experience and familiarity with the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Dodd-Frank Act and federal securities laws;
- Substantial litigation experience involving a relevant government agency (SEC, FINRA, etc.);
- A business and solution-oriented approach to resolving issues’
- Excellent interpersonal, communication, analytical and influencing skills’
- Proven ability to develop collaborative relationships with internal partners and external customers, with comfort interacting with associates across departments and job levels
- Ability and desire to develop expertise in new or unfamiliar areas of law’
- Desire to pitch in and to learn new areas of the business and legal practice;
- Propensity to thrive in a fast-paced environment and successfully manage aggressive deadlines with minimal supervision;
- Comfort with an innovative, disruptive, test and learn culture; and
- Impeccable integrity.
Lending Club is an equal opportunity employer committed to diversity in the workplace. Lending Club promotes a drug-free workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, religion, national origin, protected veteran status, or disability status.
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