DAVID M. CHERNEK
*** ******* *****, ******, ********** 90291 310-***-****
acwk5q@r.postjobfree.com
GenerAl Counsel
Ambitious and accomplished General Counsel and Senior Executive leader with
26 years' of proven success in driving organizational improvements and
achieving successful results. Demonstrated ability to create and apply
aggressive initiatives and innovative solutions to difficult problems.
Keen attention to detail and superior written and oral communication
skills. Respected leader with hands-on experience managing in-house legal
operations and outside counsel, while driving training and the development
of junior employees. Substantive expertise in the laws governing consumer
lending in the United States. Extensive regulatory experience. Licensed
in U.S. and England.
Key Competencies
Negotiation, Arbitration & Litigation Regulatory Affairs & Compliance
Staff & Outside Counsel Management Consumer Protection & Financial Laws
Change Management Cross-functional Collaboration
PROFESSIONAL EXPERIENCE
LOANME, INC. Anaheim, CA Current (from August 2015)
Executive Vice President/General Counsel
Head of Legal and Compliance functions at a growing prime, subprime and
small business FinTech direct lender with a highly visible market presence.
Responsible for: providing strategic advice to C-Level executives
regarding existing and proposed laws and regulations; implementing
operational changes needed to conform with legal requirements; contracts;
litigation strategies; and risk mitigation.
Key Accomplishments:
. Developed a scalable compliance management system, with a Compliance
Committee, policies and procedures covering federal and state lending
laws, and a compliance audit protocol.
. Initiated sophisticated new reporting on customer complaints and
lawsuits.
. Supervised the creation of a fair lending regression analysis
utilizing Bayesian Improved Surname Geocoding.
. Created a vendor management platform that streamlined risk-ratings and
introduced audit functions.
. Advised regarding marketing initiatives on traditional media (radio
and television) and new media (internet and social media).
Prospect Mortgage, LLC Sherman Oaks, CA 2009 to 2015
General Counsel (2013 - 2015)
Led 70 direct and indirect reports within one of the nation's leading
independent mortgage lenders with over $400M in annual revenue and 2K total
employees. Restructured legal organization consisting of Legal, Regulatory
Audits, Compliance, Fair Lending, Quality Control, Vendor Management, and
Licensing Departments.
Key Accomplishments:
. Established two new departments: Fair Lending and Vendor Management.
. Improved regulatory relationships by increasing responsiveness to
audit results and remediation protocols.
. Obtained a favorable settlement in a complex litigation involving more
than 400 separate civil cases.
. Increased Legal Department attorney headcount by 250% while
implementing new processes for project assignment and management.
. Enhanced licensing function through proactive involvement in business
initiatives and increased expertise in licensing laws.
. Reorganized Compliance Department, including adding new personnel and
functions, which increased responsiveness to regulatory initiatives,
achieved more effective compliance oversight, and facilitated improved
interactions with internal business constituencies.
. Spearheaded timely implementation of regulations promulgated pursuant
to Dodd Frank, including organizing cross-departmental work groups,
providing educational outreach to affected internal groups, and
fashioning new policies, procedures and workflows.
Deputy General Counsel (2009 - 2012)
Multifaceted role managing contracting process, overseeing an active slate
of litigation, monitoring and responding to regulatory developments, and
supervising the Legal Department Associate Counsel, paralegals, Contracts
Manager and Quality Control Department. Key collaborator in driving
internal investigations and audits. Counseled Human Resources Department.
Key Accomplishments:
. Defended high-profile regulatory proceedings, including drafting
briefs in-house and arguing before HUD.
. Rapidly resolved most cases filed against the company in less than 180
days.
. Navigated a class action suit to a resolution in four months for less
than $30K including defense costs.
. Drove state regulatory proceedings involving 28 internal parties with
divergent interests and exposures to a favorable resolution at less
than 10% of initial financial demand.
. Championed RFP process resulting in competitive bidding for
origination, closing, and title services as well as internal audits.
Chan Law Group Los Angeles, CA 2008 to 2009
Partner
Supervised Litigation Department of small intellectual property boutique.
Indymac Bancorp Pasadena, CA 2006 to 2008
First Vice President & Head of Litigation
Managed five-person Litigation Department overseeing all defensive
litigation, pre-dispute counseling, settlement negotiations, legal intake,
subpoenas, and management reports.
Heller Ehrman, LLP Los Angeles, CA 1996 to 2006
Shareholder (2001 - 2006)
Associate, Litigation Department (1996 - 2001)
Member of prestigious AmLaw 50 firm's Litigation Department with a broad
complex litigation practice emphasizing antitrust and financial services
litigation. Represented clients in diverse industries (e.g. financial
services, technology, consumer products) in MDL proceedings, class actions,
and private attorney general actions.
Latham & Watkins Los Angeles, CA 1990 to 1996
Associate, Litigation Department
EDUCATION
Juris Doctor Boston College School of Law Chestnut Hill, MA (Cum Laude)
Member, Boston College Law Review
Assistant Coach, Men's and Women's Swimming
Bachelor of Arts in English University of California at Los Angeles Los
Angeles, CA (Cum Laude)
BAR ADMISSIONS
State of California
United States District Courts for the Central, Southern, Northern & Eastern
Districts of California
Solicitors Regulation Authority for England and Wales
PROFESSIONAL AFFILIATIONS
Association of Corporate Counsel, Financial Services Committee 2009 to
2012
Eisner Pediatric and Family Medical Center, Board Member 2004 to 2012