Compensation: $165,000 base salary + $45,000 bonus. Stock options equal to 0.15% of company. 3% automatic 401k contribution.
Reports to: President/CFO
You will be an integral part of our finance team working alongside the CFO and CRO. This position is ideal for someone who is ambitious, hardworking, enjoys problem-solving, and who isn’t afraid to roll up his/her sleeves and get into the details. Most importantly, you will see your insights have an immediate, tangible impact every day in a well-funded and rapidly growing company.
This is an exciting opportunity to join a highly analytical, data-centric team at a fast growing FinTech company. You will partner with internal business partners from Risk and Finance ops to help deal with minimizing defaults in our portfolio and help our farmers collect . The candidate will also support management with some general corporate legal matters and working with our outside counsels (DLA Piper.)
Ideal candidate needs to have prior experience in working on financial recoveries tied to the Perishable Agricultural and Commodities Act (PACA) for a litigation firm.
Produce Pay is helping farmers feed the world by solving an industry-wide shortage in working capital. We are revolutionizing financing solutions by providing farmers, who grow fresh fruits and vegetables, with immediate access to liquidity for enhanced cash flow. This innovative financing solution securitizes a new asset class (perishable farm products) providing superior risk adjusted returns to investors. $72 billion of produce is purchased in the US alone every year. This is a massive market with no competition for this type of funding.
We straddle the line between FinTech startup and Hedge Fund. With $300M raised we are backed by venture capital firms Anterra Capital (Largest Agtech VC fund in the world), Rabo Bank (largest Food & Agricultural bank in the world), Coventure, Arena Ventures, Social Leverage, Menlo Ventures, and Moon Shots Capital and raised the single largest check on Angel List from an angel investor. We are located in the financial district in downtown Los Angeles. The company is currently focused on our financing product but also working on developing other innovative technology and enterprise solutions to create a first of its kind digital marketplace for produce.
Essential Duties & Responsibilities
PACA Litigation, workouts and collections
- Manages PACA litigation brought by Company against Buyers not paying company for Produce Received from our growers
- Work with CFO and Chief Risk Officer on work outs of problematic deals
- Assist collection process with drafting PACA legal notices for payment defaults or product being received by buyers outside of ProducePay network by growers who are in violation of contract with ProducePay
- Help with drafting changes to existing contracts to enhance future ability to collect and enforce our PACA rights
- Travel to attend litigation in different federal district courts
- Take over open litigation matters from outside PACA litigators
- Manage relationships with outside litigators when counsel is needed on new issues
- Assist C-Suite on general corporate matters as needed
- Assist CFO with equity fundraising initiatives and legal diligence including 2020 series C
- Manage relationship with outside corporate counsel (DLA Piper)
- Assist HR Manager on potential employment related with assistance of outside counsel
- Assist Risk team on optimizing security interest in USA and LATAM
- Tracks laws and regulations that might affect organizations policies and proposes necessary changes. Early identification, advice and resolution of legal and compliance risks
Education, Skills, & Experience
- Juris Doctorate from an accredited law school and admission in good standing to the bar.
- 5-7 years of litigation experience
- Significant PACA case experience
- Demonstrated understanding of the fundamental legal aspects of secured lending.
- Aggressive personality willing to help on collection and workout minimizing need for litigation
- Effective negotiation, communication and drafting skills.
- Ability to understand, interpret, and explain complex contractual terms and legal issues to business clients in a simple, practical manner.
- Ability to assist on all facets of challenging financing transactions, from preliminary/conceptual advice through structuring, due diligence, negotiating, drafting, closing, and post-closing integration.
- Excellent organizational, communication, presentation, and interpersonal skills.
- Willingness and ability to learn new practice areas and new businesses and financial products.
- Professional business image, with strong verbal and written communication skills.
- Ability to learn quickly and work independently and as part of a high-performance team.
- Willing to travel 15-20% of the time.
● Stock options
● Free medical insurance
● Dental, vision, and more
● Monthly $50 cell phone stipend
● Monthly $120 commuting stipend
● 401k - company automatically contributes 3%
● Team building activities (paintball, bowling, and more)
● Friday lunches
● Office snacks
● Arcade games in the office