Counsel, Compensation

Rate; Chicago (IL); Remote; USD 90,000 - 120,000; Full time

Benefits offered by this job

401(k) participation

Medical, dental, and vision benefits

Flexible spending accounts

Life insurance

Employee assistance program

Job summary

A leading mortgage lender is seeking a Counsel, Compensation to provide legal support for employee recruitment and compensation matters. The role involves drafting employment agreements, advising on regulatory issues, and managing key projects in a fully remote but collaborative environment. Ideal candidates have a Juris Doctorate, 4+ years of experience in contract law, and strong communication skills. Comprehensive benefits and flexible work arrangements are offered.

Qualifications

• 4+ years of experience reviewing and drafting contracts, preferably employment agreements.
• Familiarity with mortgage industry and Loan Officer Compensation Rule is highly desired.
• Licensed and in good standing with the bar in any U.S. jurisdiction.

Responsibilities

• Draft, amend, and manage employment agreements for sales-related employees.
• Advise on contract, compensation, and regulatory issues.
• Manage key projects addressing legal and compliance needs.

Skills

Contract drafting

Employment law

Analytical skills

Communication skills

Organizational skills

Education

Juris Doctorate from an accredited law school

Job description

Location: Remote (Office location-3940 N. Ravenswood, Chicago, IL 60613)

Rate is one of the nation’s top retail mortgage lenders, delivering a seamless, tech-driven experience that helps customers reach their homeownership and financial goals. Founded in 2000 and based in Chicago, Rate is licensed in all 50 states and D.C. and has helped over 2 million homeowners with a wide range of loan products, competitive rates and personalized service. With 5,000+ employees across 300+ offices and 12+ subsidiaries, Rate’s Loan Officers rank among the best in the country. From purchases and refinances to tapping into equity, Rate makes financing faster, simpler and less stressful. Our technology — including Same Day Mortgage, the Rate App, FlashClose℠, MyAccount and the Language Access Program — has earned recognition from HousingWire, Scotsman Guide, NerdWallet, the Chicago Tribune and Crain’s Chicago Business. Learn more at rate.com.

Rate! is building a winning team to reinvent the mortgage experience through innovation, technology and a relentless focus on providing industry leading mortgage products and superlative customer service. The Counsel, Compensation will embrace these efforts by acting as the legal representative to the fast-paced employee recruitment team, working closely with Rate\'s HR, finance and compliance teams on contract, compensation, regulatory and employment matters as well as other special projects. The ideal candidate will be eager to learn, able to work independently, solve problems creatively, prioritize relentlessly, exercise business judgement soundly, and operate with a sense of urgency to get things done. This position plays a key role in the growth engine of our business. In addition to being part of a larger cross-functional team, this role is part of a close-knit legal team working together and improving itself through shared learning and "lifts each other up." The team is fully remote but highly collaborative.

Job Responsibilities

• Compensation and employment related tasks including drafting, amending and managing employment agreements, compensation plans and related addenda for sales-related employees of Guaranteed Rate and its affiliated companies (e.g. mortgage loan officers and related support personnel.)
• Advise the business on various contact, compensation and regulatory issues and matters.
• Draft and manage compensation plan templates and drafting tools.
• Lead and contribute to operations/process improvement projects.
• Act as a liaison between the legal department and business operations, finance, human resources, compliance, and licensing for Guaranteed Rate with respect to compensation matters.
• Manage key projects to address legal and compliance needs.
• Assist other legal department attorneys with overflow work as necessary.

Experience and Qualifications

• 4+ years of experience reviewing and drafting contracts, preferably employment agreements.
• Experience with employment matters, commission-based employment agreements and/or regulatory issues preferred.
• Familiarity with the mortgage industry and the Loan Officer Compensation Rule, 12 CFR § 1026.36(d)-(e) is highly desired.
• Ability to work quickly and independently under tight timelines without sacrificing quality.
• Willingness to learn the business and build strong relationships with internal stakeholders.
• Detail-oriented with excellent organizational and drafting skills.
• Self-motivated with strong work ethic.
• A sense of ownership, accountability and collegiality.
• Clear and concise oral and written communication skills.
• Solid business acumen with ability to work collaboratively and cross functionally.
• Proven track record of multi-tasking and working under a heavy workload with changing priorities.
• Strong analytical and problem-solving skills – "we want to you think, not just go through the motions."
• Resiliency, and ideally, a sense of humor.
• Graduated from an accredited law school with a Juris Doctorate degree
• Licensed and in good standing with the bar if any U.S. jurisdiction

Applications are accepted on an on-going basis.

Benefits

The company offers a comprehensive benefits program to eligible employees, including eligibility to participate in a company-sponsored 401(k); vacation benefits; eligibility for medical, dental, vision, and prescription drug benefits; flexible benefits (e.g., healthcare and/or dependent day care flexible spending accounts); life insurance and death benefits; critical care insurance; personal accidental insurance; commuter benefits; pet insurance; certain time off and leave of absence benefits; well-being benefits (e.g., employee assistance program); and other supplemental benefits (e.g. legal planning assistance; identity theft protection; pet insurance; wellness resources).

To apply, please submit your resume and application via LinkedIn.

Please click to learn more about our benefit offerings for Washington State; https://www.rate.com/careers/open-positions/disclosures

Guaranteed Rate is an Equal Opportunity Employer that welcomes and encourages all applicants to apply regardless of age, race, sex, religion, color, national origin, disability, veteran status, sexual orientation, gender identity and/or expression, marital or parental status, ancestry, citizenship status, pregnancy or other reason protected by law

Referrals increase your chances of interviewing at Rate by 2x