Bank Product Analyst

FOUND: A great place to work!

WHY JOIN STATE FARM?

At State Farm, we are proud of our over 80 years of service to our policyholders. As the # 1 insurer of automobiles and homes in the United States and an insurance leader in Canada, State Farm Insurance has been helping people manage the risks of everyday life and recover from the unexpected since 1922.

At State Farm, we recognize that our workforce is the key to our business success. We have nearly 100,000 employees and agents working throughout the United States and Canada. We remain committed to maintaining an environment that enables every employee to make the greatest possible contribution. At State Farm we embrace diversity and strive to be the employer of choice for candidates of all backgrounds. If you are looking for a company that will provide you meaningful work with a competitive benefits package, consider joining our team.

WHAT ARE THE DUTIES AND RESPONSIBILITIES OF THIS POSITION?Uses data mining tools for building cross-sell, acquisition, and retention models for State Farm Bank related products while helping the product lines with profitable growth strategies Develops and conducts data analysis, predictive modeling, and data mining solutions to identify customer credit risk parameters, behavioral characteristics, and demographics Utilizes customer profiling, segmentation, geographic analysis, customer retention, and customer credit risk methodologies and the use of advanced statistical modeling and analytical techniques to understand the client book of business and pricing/profitability processes Develops and designs market and product database analysis programs to meet the needs of product management in identifying potential markets, valuing factors within each customer application data field, using customer information, and demographic values for risk Creates, maintains, and analyzes line of business database resources used in the development of credit management and predictive factors Develops and maintains client databases and behavioral modeling involving internally driven or externally derived information sources Collects and analyzes data to identify market trends and potentials, competitive forces, penetration strategies, user biases, profitability analysis, pricing, and preferences of the marketplace

WHAT KNOWLEDGE AND SKILLS ARE NEEDED TO BE SUCCESSFUL IN THIS POSITION?Basic understanding of State Farm Bank's structure, systems, products, services, and processes Identifies and defines business needs and translates them into analysis plans and/or experimental designs Reports analytical results and recommendations Supports model creation which requires an understanding of technical issues and interrelationships

ITEMS OF NOTEEntry into this job family may require passing additional background checks May work irregular hours based on workload and job requirements May be required to travel via commercial air or ground transportation and/or drive motor vehicles Expected to maintain consistent product and procedure knowledge in assigned area and to understand practices and trends within the banking industry

ADDITIONAL INFORMATIONState Farm Bank has an immediate opening for a Bank Product Analyst. The candidate must have experience working with Bank products, conducting portfolio analyses, and be well versed in evaluating product performance. The candidate must be fully proficient in SAS for the purpose of modifying datasets and performing analyses, as well as possess knowledge of and have experience working with financial software. The candidate must be recognized and sought out by others as an authority/professional resource in his/her area of expertise.

Qualified candidates will have at least a 4-year degree in a related field and 2-3 years experience:

Consulting with business partners regarding strategic research. Working with product areas to achieve business goals. Identifying and defining business needs and translating these needs into analysis plans and/or experimental designs. Appling and/or developing highly advanced principles and concepts. Developing and conducting sophisticated data analysis, multivariate analyses, predictive modeling and data mining to identify solutions to complex analysis problems. Functioning as a resource on statistical application/research techniques. Reporting analytical results and making recommendations. Communicating complex financial and analytic methods and findings to management and executives not trained in advanced financial, mathematical and statistical techniques. Training, mentoring, and providing peer-level oversight, supervising efforts. Providing project leadership on highly complex statistical/business/research issues and studies. Participating on project teams. Defining the scope and leading projects. Working with minimal guidance, making independent decisions, setting priorities. Knowledge of and experience working with Bank Products a must. Strong understanding of product portfolio analysis a must. Experience working with SAS/SPSS/Other statistical software a must. Knowledge of financial software such as profitability, database, cash flows, and predictive modeling software a plus. BS Degree in accounting, finance, math, statistics or BA with accounting/ math/ statistical analysis education, and/or related business experience preferred. MBA, MA, MS, PhD desirable. CPA, CMA, CFA or similar certification desirable. Extensive knowledge of quantitative disciplines and programming. Strong understanding of profitability reporting and financial modeling principles and approaches.

OUR TOTAL REWARDS PACKAGE

At State Farm, we offer a comprehensive compensation package that includes a competitive starting salary, annual merit reviews, and annual bonus potential. In addition, you will be eligible to participate in our comprehensive benefits package including Medical, Dental, Life and Disability Insurance, Vision, 401K Plan (Savings & Thrift in Canada), a fully funded retirement plan, and more.

State Farm Insurance is an equal opportunity employer.

Please visit our Corporate website at:

statefarm.com®