Product Analyst

Banner Life Insurance Company; Frederick (MD); On-site; USD 93,200 - 128,075; Full time

Benefits offered by this job

Health, life, and dental insurance

401K with company match

15 vacation days and 10 sick days

Job summary

Banner Life Insurance Company is looking for a Product Analyst to support the Product & Transformation function in delivering data-driven products. This hybrid opportunity in Frederick, MD involves analyzing product performance, supporting backlog management, and collaborating closely with Product Managers and designers.

The ideal candidate will have a Bachelor's degree with 2–4 years of relevant experience and strong analytical skills. Competitive compensation and benefits are offered, reflecting the significant contribution expected in enhancing customer journeys.

Qualifications

• 2–4 years of experience in product analysis or digital product operations.
• Strong understanding of Agile methodologies.
• Experience in financial services or insurance preferred.

Responsibilities

• Support analysis of product performance and market trends.
• Collect business requirements and customer feedback.
• Ensure accurate product backlog management.
• Provide data analysis to define OKRs and KPIs.
• Collaborate with UX/CX designers on improvements.

Skills

Strong analytical skills

Collaboration skills

Proficiency with Agile tools

Written and verbal communication

Curiosity and process improvement

Education

Bachelor’s degree in business or equivalent

Tools

Power BI

Tableau

Google Analytics

Adobe Analytics

JIRA

Confluence

Job description

Overview

At Banner Life Insurance Company, we lead with heart and ambition. The Product Analyst will support the Product & Transformation function in delivering digital‑first, data‑driven products and journeys that align with Banner Life’s business strategy. The Product Analyst provides input and insight to guide product prioritization and enable effective backlog management. This role partners closely with Product Managers and Digital Platform Owners to translate business problems, customer needs, and performance data into actionable solutions, user stories, and measurable outcomes. The Product Analyst helps ensure product roadmaps are prioritized based on value, risk, and impact, supporting Banner Life’s goal of delivering best‑in‑class experiences for customers, agents, and partners.

Responsibilities

• Support detailed quantitative and qualitative analysis on product performance, customer journeys, and market trends to identify opportunities for optimization.
• Collect business requirements, customer feedback, and journey pain points into epics, features, and construct user stories with clear acceptance criteria.
• Facilitate an accurate product backlog in collaboration with Product Managers and ensure continuous grooming and prioritization aligned to product roadmaps.
• Provide analysis to Product Managers for defining OKRs and KPIs by providing data, benchmarks, and insights that inform prioritization and value realization.
• Partner with UX/CX designers to test hypotheses, analyze results, and deliver data‑backed recommendations for customer experience improvements.
• Understand digital KPIs (adoption, NPS, funnel conversion, handle time, automation rates) and identify trends or anomalies for escalation to product leadership.
• Document current and future state workflows, process dependencies, and integration touchpoints across systems to support business readiness.
• Assist in risk and issue tracking, ensuring dependencies are communicated and managed across pods, products, and journeys.
• Partner with Change & Adoption to ensure product launches are accompanied by readiness materials, training inputs, and adoption measurement.

Qualifications

Education/Knowledge

• Bachelor’s degree or equivalent combination of education and experience in business, data analytics, or information technology.
• Foundational understanding of Agile frameworks (Scrum, SAFe) and digital product management practices.
• Familiarity with data visualization tools (Power BI, Tableau) and analytics platforms (Google Analytics, Adobe Analytics, or equivalent).

Experience

• 2–4 years of experience in product analysis, business analysis, or digital product operations.
• 4+ years of experience in financial services, insurance, or related digital transformation environments preferred.
• Hands‑on experience supporting product delivery in agile teams (writing user stories, maintaining backlogs, or analyzing customer journeys).

Skills Required

• Strong analytical skills with ability to derive insights from data and present findings in business‑friendly terms.
• Proven ability to translate business and user needs into structured requirements and acceptance criteria.
• Strong collaboration skills with ability to work across business, engineering, and design functions.
• Proficiency with Agile delivery tools (JIRA, Confluence).
• Excellent written and verbal communication skills, including stakeholder documentation and visual presentation.
• Comfortable managing multiple priorities and deadlines in a dynamic environment.
• Curiosity and drive to continuously improve processes, metrics, and delivery quality.

Travel

Up to 10% travel may be required.

Reports to

Product Manager

Staff

None (individual contributor)

Success Measures

• Timely delivery of accurate backlog artifacts, documentation, and metrics.
• Improved product and journey KPIs (adoption, efficiency, satisfaction).
• Demonstrated contribution to value realization through data insights and analysis.
• Consistent collaboration feedback from Product, Engineering, and CX peers.

What’s in it for you?

The expected hiring compensation range for this position is $93,200 - $128,075 annually. This is a hybrid opportunity working in Frederick, MD.

The total compensation package for this position may include other elements, such as a sign‑on bonus, long‑term incentives, and annual bonuses. This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 8% of base salary, modified for corporate and individual performance. Bonuses are pro‑rated based on start date. This role has 15 vacation days and 10 sick days that are accrued on a bi‑weekly basis. Employees also have 9 paid holidays throughout the calendar year.

We have a competitive compensation and benefits package focused on your overall wellbeing. Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year.

If hired, employee will be in an “at‑will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.