About Guaranteed Rate Companies:
As a titan in mortgage lending and digital financial solutions, Guaranteed Rate Companies proudly operates with more than 6,400 employees stationed across over 800 branches nationwide, including Washington, D.C. Founded in the year 2000, we've assisted more than 1 million homeowners with their home purchase loans and refinances. In 2022 alone, we managed a total loan volume exceeding $33 billion. But we’re more than just numbers; we’re about innovation, offering competitive rates, and delivering customer service that's second to none. Our accolades include Inside Mortgage Finance's Second Largest Retail Originator for 2023, Chicago Agent’s Lender of the Year for the 7th consecutive year, Scotsman's Guide 2022 ranking for having more top originators than any other lenders, NerdWallet’s Best Lenders for Low and No-Down-Payment Mortgages of 2022, and Forbes' Best Online Lender for First-Time Homebuyers in 2022. For more information, visit rate.com.
What’s the Role?
Counsel, Compensation - Guaranteed 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 supporting the Guaranteed Rate legal, licensing and compliance teams on contract, compensation, regulatory and employment matters and other special projects. The ideal candidate will be eager to learn, able to work independently, solve problems creatively, prioritize relentlessly, exercise business judgment soundly, and operate with a sense of urgency to get things done.
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 (i.e. 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.
- 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 the legal department with overflow work as necessary.
Experience/Qualifications/Skills:
- 3+ years of experience reviewing and drafting contracts and 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 complete projects under tight timelines.
- Willingness to learn the business and build strong relationships with internal stakeholders.
- Detail-oriented with excellent organizational skills.
- Self-motivated with strong work ethic.
- Clear, concise and persuasive 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.
- Resilient with a sense of humor.
Minimum Requirements:
- J.D. degree from an ABA-approved law school.
- Licensed to practice law in Illinois.
- Skilled at Adobe Acrobat and Microsoft Outlook, Word, Excel and Power Point.
- Graduated from an accredited Law School with a Juris Doctor degree.
- Admitted to the Illinois Bar (or admission to a state bar of any jurisdiction in the United States and admitted to the Illinois Bar within a reasonable time following the commencement of the position).
Guaranteed Rate, Inc. is an Equal Opportunity Employer that welcome and encourages all applicants to apply regardless of age, 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, as protected by law.
