Principal Review Analyst

Being good neighbors - helping people, investing in our communities, and making the world a better place - is who we are at State Farm. It is at the core of how we operate and the reason for our success. Come join a #1 team and do some good!

As a member of the Investment Planning Services (IPS) Principal Review team you will be among professionals who are challenged and empowered to grow professionally. If you like variety and collaboration we have all that to offer as no two cases are exactly the same. As a small team operating within Investment Planning Services, our ability to work with Agents, Life and IPS business partners is critical to making decisions that drive pace and create an exciting work environment.

A successful candidate will possess the ability to leverage product and licensed principal reviewer knowledge to assess and evaluate agent recommendations for suitability and best interest practices for all offered products. This will require a solid understanding of the regulatory environment, suitability and best interest policies, guidelines, practices, and procedures. Candidates will need to demonstrate ability to collaborate with key business areas, peers, and leadership.

• Reviews and makes decisions regarding new brokerage/529/advisory accounts, Life Insurance, and fixed and variable annuity policy applications; evaluates supporting documentation to verify proper suitability of product/fund selections in accordance with procedures, guidelines, and legislative requirements under FINRA/SEC/NAIC/State regulations.
• Reviews best interest standard recommendations and evaluates for acceptance/rejection or additional information on offered products/transactions.
• Evaluates suitability aspect of Life Insurance which may include coordination with Life Underwriting as needed for Life policy review obligations under New York Regulation 187.
• Communicates effectively with internal/external customers/business partners; ability to seek clarity of information and explain review decisions with agents.
• Effective written communication: ability to document thorough case notes and decision rationale in professional and concise manner.
• Interprets financial terminology and concepts, suitability/best interest procedures, guidelines, legislative and regulatory requirements.
• Develops knowledge of brokerage/529/advisory/annuity products and systems to evaluate and oversee appropriate customer best interest recommendations.
• Develops strong workstation skills to navigate appropriately between tools to complete reviews and associated documentation.
• Reviews and develops recommendations to enhance suitability and best interest standard processes, procedures, and technologies.
• May assist and/or represent the Suitability unit on projects or committees, or other assignments as directed. Which can involve analytical, technical and research activities.
• May work exception reports or controls as needed

Required:

• Will be required to possess and/or obtain a Securities Industries Essentials (SIE), Series 6 license, and Series 26.
• Series 51 securities licensing exam may be required.
• Continued employment requires incumbents to receive sponsorship from State Farm VP Management Corp. Incumbents must also be registered and remain in good standing as required by State Farm VP Management Corp. and the FINRA. This includes successfully completing all applicable FINRA exam(s) and state exams required by the state in which you are employed. Selected candidates will be required to sign a Securities Registration Agreement.
• Fingerprint, Credit check and Background check required.
• Incumbents must sign the Acknowledgement and Consent to Telephone Monitoring, and the Acknowledgement of Policy on Personal Account Transactions/Acknowledgement of E-mail Retention and Supervision Policy Forms.

Preferred:

• Knowledge of financial products, mutual funds, annuities and 529 College Savings Plans

Competencies:

• Decisions Making and Judgment
• Communication
• Resourcefulness
• Customer Focus
• Accountability
• Teamwork

Hybrid Work Arrangement: Qualified candidates (in or near hub locations) including Bloomington, Illinois; Richardson, Texas; or Tempe, Arizona should plan to spend time working from home and some time working in the office as part of our hybrid work environment. The Hybrid requirement is 4-5 days per month in the office. Must reside within a reasonable daily commuting distance to the office.

Incumbency: This position will have an 18-month incumbency period for a lateral and promotional opportunities (beginning on the effective date of the position) which must be met before the employee can post for any other State Farm position. The incumbency period does not affect the at-will relationship between State Farm and the employee and does not create an employment contract, nor contractual rights.

Because work-life balance is a priority at State Farm, compensation is based on our standard 38:45-hour work week!

• Potential starting salary range: $54,000 - $70,000
  • Starting salary will be based on skills, background, and experience
  • High end of the range limited to applicants with significant relevant experience
• Potential yearly incentive pay up to 10% of base salary

At State Farm, we offer more than just a paycheck. Check out our suite of benefits designed to give you the flexibility you need to take care of you and your family!

• • Get Paid! On top of our competitive pay, you are eligible for an annual raise and bonus.
  • Stay Well! Focus on you and your family's health with our robust health and wellbeing programs. State Farm pays most of your healthcare premium, and we offer multiple healthcare plan options, including a high deductible plan. All medical plans provide 100% coverage for in-network preventative care, AND you and your family have access to vision, dental, telemedicine, 24/7 mental health professionals, and much more!
  • Develop and Grow! Take advantage of educational benefits like industry leading training programs, top-notch tuition assistance programs, employee resource groups, and mentoring.
  • Plan Ahead! Plan for those big moments in life with benefits like fertility/IVF/adoption assistance, college coaching, national discount programs, interactive monthly financial workshops, free financial coaching, and more. You can also start a savings account or consider financing through our State Farm Federal Credit Union!
  • Take a Little "You" Time! You will have access to our generous time off policies designed so you can plan around holidays, family events, volunteering, or just to take a relaxing day off. With the opportunity to initially earn up to 20 days annually plus parental leave, paid holidays, celebration day, life leave (40 hours/year), bereavement leave, and community service/education support days, there will be plenty of time for you!
  • Give Back! We offer several ways to give back through our Matching Gift Program, Good Neighbor Grant Program, and the Employee Assistance Fund.
  • Finish Strong! Plan for retirement using free financial advisors and a 401(k) plan with company contributions of up to 7% of your salary.

Visit our State Farm Careers page for more information on our benefits, locations, and the hiring process of joining the State Farm team!

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