Compensation Plan Operations Paralegal

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 .Location: Hybrid 1x/week (Office location-3940 N. Ravenswood, Chicago, IL 60613)Pay Range: $38.46/hr- $48.08/hrPosition SummaryThe Compensation Plan Operations Paralegal will support the legal and business teams in the intake, preparation, routing, and execution of loan officer compensation plans and related addendums. This role focuses on workflow management, structured request validation, template-based drafting, and coordination across legal, compliance, and business stakeholders.This position is designed to improve operational efficiency, reduce attorney workload on routine matters, and ensure consistency in compensation plan documentation.The role will work within the company’s contract workflow platform (such as IntelAgree or similar systems).Key Responsibilities:Intake and Workflow ManagementReview incoming compensation plan requests for completeness and policy alignment.Enforce structured intake requirements.Communicate with requesters to obtain missing or unclear information.Route matters to appropriate legal or compliance reviewers.Template-Based Drafting and Document PreparationPrepare standard compensation plan documents and addendums using approved templates.Insert variable business terms into controlled document sections.Maintain consistency with company-approved language.Ensure documentation follows internal governance standards.Process ImprovementIdentify recurring workflow bottlenecks.Suggest improvements to intake forms and template structures.Support reporting on turnaround time and workflow metrics.Required Qualifications:Education and ExperienceAssociate or Bachelor’s degree required.4+ years of experience in corporate legal, compliance, contract administration, or paralegal operations.Core SkillsStrong attention to detail.Ability to follow structured workflow procedures.Comfortable using document management systems.Professional written and verbal communication skills.Ability to work in high-volume environments.Proficiency in Microsoft Office (Outlook, Word, Excel) Preferred Qualifications (Highly Valuable)Experience with contract lifecycle management systems.Exposure to financial services, mortgage, or compensation structures.Familiarity with workflow automation concepts.Basic understanding of regulatory or compliance review processes.Data organization or reporting experience.Work Style Characteristics (Important for Success)The ideal candidate should be:Process-orientedComfortable with repetitive high-accuracy work.Able to enforce intake standards politely but firmly.Interested in operational efficiency.What Success Looks Like in This RoleReduced attorney time spent on routine drafting.Faster compensation plan cycle times.Improved request completeness at intake.Reliable document execution tracking.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.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).Applications are being accepted on an ongoing basis.