Full-Time

Lead Counsel

Consumer Litigation

Posted on 9/6/2024

Upstart

Upstart

1,001-5,000 employees

AI lending marketplace for personal loans

Fintech
AI & Machine Learning
Financial Services

Compensation Overview

$197.2k - $237kAnnually

+ Bonus + Equity Compensation

Senior

Remote in USA

Category
Legal
Risk & Compliance
Legal & Compliance
Requirements
  • J.D. degree with superior academic credentials and a state bar membership.
  • At least 7 years of experience in a top-tier law firm, in-house, and/or governmental agencies.
  • Experience working for or with a fintech company, handling litigation matters in the consumer lending space.
  • In-depth knowledge of federal and state banking, lending and consumer protection laws and regulations.
  • Strong communication skills with a demonstrated ability to effectively and proactively provide quick, concise, and practical legal advice.
  • A self-starter mentality with the ability to work well under pressure, thrive working under limited direction, and an attitude that no job is too challenging or too small.
  • Ability to provide solutions to a variety of issues of varied scope and complexity and to prioritize and balance multiple tasks in a fast-paced environment.
Responsibilities
  • Manage a portfolio of 50+ consumer disputes of various size and complexity involving consumer lending and servicing, e.g. FDCPA, FCRA, TILA, ECOA, Bankruptcy and state consumer lending laws.
  • Drive case strategy for a full caseload, managing outside counsel as appropriate to align to such strategy.
  • Manage an overall litigation budget for outside counsel fees and settlement to provide effective solutions to accomplish Upstart goals.
  • Utilize various tools to manage caseload, that includes reporting, status updates and other features to ensure efficient and timely handling of all threatened or filed actions against Upstart.
  • Engage directly with Upstart’s product, business, legal and compliance teams regarding Upstart’s products, features, functionality, configurations and integrations as necessary to respond to threatened or filed actions.
  • Assist attorneys with all aspects of case management including docketing deadlines, maintaining case files, scheduling, billing and providing reminders as necessary.
  • Work with business partners to recommend non-monetary settlement operational activities and identify any root cause issues increasing litigation.
  • Manage collection, review and synthesis of records from key stakeholders for the Litigation files.
  • Oversee, coordinate and finalize responses to information requests and third-party subpoenas or search warrants.
  • Review, summarize and prepare legal documents, including but not limited to, responses to attorney demand letters, indemnification letters and settlement agreements.
  • Oversee and manage compliance with settlement agreements or enforcement of judgments.
  • Assist with litigation activities, including tracking reporting, document management, and analyzing and drafting responses at the state and federal level.
  • Maintain a Litigation Contact List with key stakeholders.
  • Work with other members of the Legal team as well as other company functional departments.
  • Design, develop, and implement or improve systems and processes to increase efficiency, support scalability, and ensure quality.

Upstart connects consumers with banks and credit unions through its AI-driven lending marketplace. The platform uses advanced AI models to assess borrowers' creditworthiness, allowing lenders to approve more loans at lower rates without bias based on race, age, or gender. Borrowers benefit from a digital-first experience, with over 80% receiving instant approval without needing to provide documentation. Upstart offers various financial products, including personal loans, automotive loans, home equity lines of credit, and small-dollar relief loans. The company's goal is to make borrowing more accessible and efficient for everyone.

Company Stage

IPO

Total Funding

$132M

Headquarters

San Mateo, California

Founded

2012

Growth & Insights
Headcount

6 month growth

0%

1 year growth

-5%

2 year growth

-16%
Simplify Jobs

Simplify's Take

What believers are saying

  • Recent partnerships with credit unions indicate growing trust in Upstart's AI lending solutions.
  • Blue Owl's $2 billion loan acquisition shows strong market demand for Upstart's offerings.
  • Successful fundraising of $425M and $375M notes reflects investor confidence in Upstart.

What critics are saying

  • Rising interest rates may reduce consumer demand for Upstart's loans.
  • Increased competition from AI-driven platforms could erode Upstart's market share.
  • Regulatory scrutiny on AI models may increase compliance costs for Upstart.

What makes Upstart unique

  • Upstart uses AI to approve over 80% of borrowers instantly without documentation.
  • The platform considers non-traditional variables like education and work experience for credit decisions.
  • Upstart offers diverse financial products, including personal, auto, and home equity loans.

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