Planning & Analysis Analyst- Cost Benefit Team

State Farm; Bloomington (IL); Hybrid; USD 80,000 - 120,000; Full time

Benefits offered by this job

Annual raise and bonus

Health insurance

Tuition assistance

Job summary

State Farm in Bloomington, IL is seeking an analyst to join the Cost Benefit Analysis (CBA) Team. You will forecast cash flows, evaluate initiatives, and provide strategic financial guidance to leadership.

You will present complex analyses to diverse audiences, collaborate across IT, Finance, and Business units, and help drive cost transparency to inform major investments and decisions.

Qualifications

• Degree in Finance/Accounting/Economics/Mathematics/Statistics or related field preferred.
• Broad business and financial acumen: NPV, cash flows, discount rates, ROI.
• Experience performing cost benefit analyses.
• Ability to independently research financial and technical topics.
• Strong analytical and problem-solving skills; results oriented.
• Excellent communication and presentation skills to leadership at all levels.

Responsibilities

• Develop cost benefit analyses to forecast cash flows and evaluate projects.
• Provide consultation to executive leadership on financial analyses to inform decisions.
• Present complex cost analyses in a clear, consumable way for varied audiences.
• Act as a strategic thought partner for leadership and business areas.
• Prepare timely, accurate written financial analyses for decision making.

Skills

Cost benefit analysis

Excel

Financial analysis

Data analysis

Communication

Presentation skills

Collaboration

Research

Prioritization

Education

Finance/Accounting/Economics/Mathematics/Statistics degree

Tools

MS Excel

Job description

Overview

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. We're moving with urgency to become a Next Gen Good Neighbor, with technology that strengthens human connections and enhances the customer experience. As an employee, you'll spend less time navigating systems and more time applying judgment, empathy, and expertise in the moments that matter most.

Responsibilities

The Planning & Analysis Department has an analyst opening on the Cost Benefit Analysis (CBA) Team. CBA analysts serve as an unbiased advisor to help educate business partners on key financial issues and provide company leadership with a measure for evaluating a project on a basis of its financial impact to the business. This role is to enable cost transparency and inform decisions by helping evaluate investments and other key initiatives.

We strongly value diversity of thought and an ability to establish and maintain highly collaborative relationship throughout the company. Our team brings a mix of backgrounds supporting our need for strong business acumen as our analysis typically focus on what is best for the business as a whole.

Key job responsibilities for the role include:

• Developing cost benefit analysis to support decision making by forecasting cash flows and determining the expected net present value of potential initiatives
• Providing consultation to executive leadership regarding cost benefit and other types of financial analysis needed to drive decisions
• Present complex cost analysis and educational materials to a diverse set of customers in a consumable fashion, tailored to customer role (e.g., IT, Business, Finance)
• Serve as a strategic thought partner for leadership and business areas
• Prepare accurate and relevant written financial analysis in a timely manner, communicating complex subject matter to the intended audience in a simplified manner that meaningfully informs decisions

Qualifications

We Are Seeking Candidates With:

• Degree in Finance/Accounting/Economics/Mathematics/Statistics or a related field is preferred.
• Broad business and financial acumen, including net present value, cash flows, discount rates, ROI, etc.
• Experience in the completion of cost benefit analysis.
• Ability to independently research financial and technical topics.
• A rich history of analytical and problem-solving skills and accomplishments.
• Strong skills in data manipulation with tools like MS Excel.
• Strong communication and presentation skills to all levels of leadership.
• Proven learning agility and growth mindset.
• Strong collaboration & relationship building with diverse set of customers.
• Ability to prioritize work based on competing priorities.

Hybrid Work Locations: Bloomington, IL-Corporate, Dunwoody, GA-Park Center, Richardson, TX-CityLine or Tempe, AZ-Marina Heights Hub locations.

• Hybrid Work arrangement: A \"Hybrid\" position means selected candidates will be assigned to a facility and will spend some time working both in the office and from their home. Work arrangements could change over time based on business need. On average, employees will spend roughly 35%-50% of their time in office, though can vary based on role.

****Applicants are required to be eligible to lawfully work in the U.S. immediately; employer will not sponsor applicants for U.S. work authorization (e.g. H-1B visa) for this opportunity*****

Our Benefits

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: $80,000 - $120,000
  • 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!