Additional Job Listings

• Location:Bloomington
• State:IL
• Salary:$100K+
• 

Job Types:

Banking, Lending & Insurance

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.  State Farm Bank is owned by State Farm Mutual and is currently in the top 1% of all Banks in the United States based on size of total assets (over $16 Billion).

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

The candidate will, individually and as a leader of a team of professionals, perform the following functions:

• Establish and manage credit policy, standards, and guidelines for all consumer lending units.
• Manage ongoing credit risk program for all consumer lending units.
• Ensure adherence to credit policy and standards.
• Share responsibility and accountability for credit performance with consumer lending units.
• Responsible for design, development, implementation and validation of credit policy to manage the risk of consumer receivable portfolios.
• Recommend changes and improvements based on review of portfolio performance and credit standards for consumer lending units.
• Develop and manage credit risk management systems, controls, and strategies. Develop formal presentations and written memoranda of results as required.
• May review and analyze existing business unit strategies and recommend alternative new strategies, as appropriate (i.e. credit line management, collections, authorizations, communications, card reissue, and dynamic re-pricing modules).

In addition, the candidate will:

• Manage tactical implementations that support the strategies and goals of the Bank and/or enterprise
• Plan, organize, coordinate, and manage work and resources within assigned area of responsibility to meet division, department, and enterprise goals
• Be responsible for salary administration, performance assessment and coaching, selection, training, and career development of reporting employees
• Manage staffing and controllable expenses to appropriate levels in correlation to the budget, business plan, and existing and anticipated business environment
• Make decisions impacting customer perceptions and retention and the financial performance of State Farm Bank and/or which have bank-wide impact
• Develop and maintain positive relationships with business partners and customers internal and external to State Farm
• Ensures compliance with departmental and company policies, procedures, and practices

 WHAT KNOWLEDGE AND SKILLS ARE NEEDED TO BE SUCCESSFUL IN THIS POSITION

• Five to ten years proven credit policy and/or credit risk management in all consumer lending products.
• Bachelor’s degree preferred. Degree preferences - finance, mathematics, statistics, economics or related field.
• Strong management, interpersonal, organizational, analytical, problem-solving, negotiation, project management and verbal and written communication skills.
• Familiarity with the development and/or implementation of statistical models and alternative strategies for direct mail response/activation, account acquisition, credit limit settings, authorizations and collections.
• Knowledge of credit monitoring and tracking systems designed to quantify the differences in effectiveness of alternative strategies and treatments for portfolio management and underwriting.
• Familiarity with Regulation B and the ECOA. Experience interfacing with internal and external regulatory staff is a plus.
• Draws upon broad experiences in unit or operational management (multiple roles, assignments, exposure to business partners and/or vendors) and demonstrates proven success in managing multiple/complex units, efforts and assignments.
• Problem solving/decision-making is complex and may involve complicated variables and significant financial impact.
• May be assigned to lead units or special projects that have strategic implications or bank-wide/enterprise-wide impact

ITEMS OF NOTE

• May require passing credit and criminal 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

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. You may 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.

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