Principal Review Analyst

State Farm • Bloomington, IL

243d • $54,000 - $70,000 • Remote

About The Position

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.

Requirements

• 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.
• 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.

Nice To Haves

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

Responsibilities

• Leverage product and licensed principal reviewer knowledge to assess and evaluate agent recommendations for suitability and best interest practices for all offered products.
• Review and make decisions regarding new brokerage/529/advisory accounts, Life Insurance, and fixed and variable annuity policy applications.
• Evaluate supporting documentation to verify proper suitability of product/fund selections in accordance with procedures, guidelines, and legislative requirements under FINRA/SEC/NAIC/State regulations.
• Review best interest standard recommendations and evaluate for acceptance/rejection or additional information on offered products/transactions.
• Evaluate suitability aspect of Life Insurance which may include coordination with Life Underwriting as needed for Life policy review obligations under New York Regulation 187.
• Communicate effectively with internal/external customers/business partners; ability to seek clarity of information and explain review decisions with agents.
• Document thorough case notes and decision rationale in a professional and concise manner.
• Interpret financial terminology and concepts, suitability/best interest procedures, guidelines, legislative and regulatory requirements.
• Develop knowledge of brokerage/529/advisory/annuity products and systems to evaluate and oversee appropriate customer best interest recommendations.
• Develop strong workstation skills to navigate appropriately between tools to complete reviews and associated documentation.
• Review and develop recommendations to enhance suitability and best interest standard processes, procedures, and technologies.
• Assist and/or represent the Suitability unit on projects or committees, or other assignments as directed.

Benefits

• Potential starting salary range: $54,000 - $70,000.
• Potential yearly incentive pay up to 10% of base salary.
• Annual raise and bonus eligibility.
• Health and wellbeing programs with multiple healthcare plan options.
• 100% coverage for in-network preventative care.
• Access to vision, dental, telemedicine, and mental health professionals.
• Educational benefits including industry leading training programs and tuition assistance.
• Fertility/IVF/adoption assistance, college coaching, and financial workshops.
• Generous time off policies including up to 20 days annually plus parental leave and paid holidays.
• Matching Gift Program, Good Neighbor Grant Program, and Employee Assistance Fund.
• 401(k) plan with company contributions of up to 7% of salary.

What This Job Offers

• Job Type: Full-time
• Industry: Insurance Carriers and Related Activities