In-House Life Insurance and Life Claims Regulatory Counsel

State Farm•Bloomington, IL

42d•Hybrid

About The Position

State Farm Mutual is hiring Counsel for its Life/Health/Investment Planning Services Unit within the Corporate Law Department at the company’s corporate headquarters in Bloomington, Illinois. This is a hybrid role requiring time both in the office and virtually; work arrangements may change based on business needs. The position provides legal advice on developing and offering life insurance and financial services products, as well as claims counseling and regulatory and operational legal advice involving life insurance, annuities (including variable insurance products), disability income insurance, long-term care insurance, and health insurance. Depending on background and experience, Counsel may also advise on broker-dealer law and the Investment Advisers Act of 1940. Counsel may supervise related litigation and represent the organization in regulatory matters before governmental agencies. The role involves advising State Farm company representatives, providing legal services, analyzing legal problems and interpreting laws and regulations, and applying advanced legal knowledge or leadership skills. Counsel is expected to collaborate and communicate effectively on complex issues, anticipate client needs, practice preventative law, and serve as an established organizational resource on complex matters.

Requirements

Law degree from an ABA-accredited law school with outstanding academic credentials.
Active license to practice law in at least one state and membership in good standing of the bar.
Ability to gain admission by reciprocity as a Corporate Counsel in Illinois.
10 or more years of in-house insurance-related experience advising life insurance companies, broker-dealers, or investment advisers.
Proactive and preventative lawyering mindset.
Commitment to providing quality legal advice.
Learning agility and demonstrated willingness to develop expertise in new subject matter areas.
Ability to collaborate with diverse internal and external stakeholders on complex issues in a challenging environment.
Must be eligible to lawfully work in the United States immediately; the employer will not sponsor applicants for U.S. work authorization.
Newly hired employees must cease outside legal practice and all suit involvement before joining State Farm, except authorized pro bono work as permitted.

Nice To Haves

Preferred emphasis on life and health insurance claims counseling.
Relevant background and experience in broker-dealer law or the Investment Advisers Act of 1940.

Responsibilities

Provide legal advice to appropriate representatives of the State Farm companies.
Provide legal services on behalf of the State Farm companies.
Advise on the development and offering of life insurance and financial services products.
Provide insurance claims counseling and regulatory and operational legal advice relating to life insurance, annuities, disability income insurance, long-term care insurance, and health insurance.
Depending on background and experience, advise on broker-dealer law and the Investment Advisers Act of 1940.
Supervise related litigation, as applicable.
Represent the organization on regulatory matters before governmental agencies.
Analyze legal problems and interpret laws and regulations.
Collaborate and communicate effectively on complex legal issues.
Anticipate and respond to client needs, including through preventative law.
Serve as an established resource for the organization on complex issues.

Benefits

Competitive compensation, annual raises, and potential yearly incentive pay or bonus.
Health and wellbeing programs, with State Farm paying most healthcare premiums and offering multiple medical plan options.
Vision, dental, telemedicine, and access to 24/7 mental health professionals.
Educational benefits, including training programs and tuition assistance.
Employee resource groups and mentoring.
Fertility, IVF, and adoption assistance.
National discount programs, college coaching, financial workshops, and free financial coaching.
Generous time-off policies, including up to 20 days initially earned annually, parental leave, paid holidays, a celebration day, life leave, bereavement leave, and community service/education support days.
Matching Gift Program, Good Neighbor Grant Program, and Employee Assistance Fund.
401(k) plan with company contributions of up to 7% of salary and access to free financial advisors.
Relocation benefits may be available depending on eligibility and position.