6 hard skills or competencies (industry competencies) for Annuities Director (New Business)
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Names the commonly used tools and techniques for insurance planning and risk management.
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Level 2 Behaviors
(Light Experience)
Reports any discrepancies encountered in reviewing policy records and documentation.
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Level 3 Behaviors
(Moderate Experience)
Works with insurance agents and team members to update and process insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Recommends alternative insurance claims processing methods to minimize operational costs.
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Level 5 Behaviors
(Mastery)
Stays abreast of the changes in insurance industry laws to ensure our product and service adherence.
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Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Explains the application of insurance regulatory laws to avoid civil penalties and license suspension.
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Level 2 Behaviors
(Light Experience)
Supports the execution of a legal and regulatory framework to promote strict insurance compliance.
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Level 3 Behaviors
(Moderate Experience)
Analyzes existing legal and regulatory standards to address errors affecting insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Improves legal procedures for licensing intermediaries or producers to prevent penalties.
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Level 5 Behaviors
(Mastery)
Designs compliance strategies and programs to prevent violations of statutes, regulations, and policies.
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2 general skills or competencies (Job family competencies) for Annuities Director (New Business)
Skill definition-Identifying and developing new market segments for current products to increase revenue margins and support long-term company growth.
Level 1 Behaviors
(General Familiarity)
Describes the components of market development programs.
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Level 2 Behaviors
(Light Experience)
Conducts market research to keep abreast of the latest market developments.
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Level 3 Behaviors
(Moderate Experience)
Follows up on leads and conducts research to identify potential prospects.
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Level 4 Behaviors
(Extensive Experience)
Creates and monitors development plans and budgets to reduce time to market execution.
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Level 5 Behaviors
(Mastery)
Conceptualizes and executes go-to-market strategies to accelerate our product commercialization.
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Skill definition-Building and cultivating long-term customer loyalty and engagement to establish brand connections, generate leads, and drive business growth.
Level 1 Behaviors
(General Familiarity)
Cites the advantages and disadvantages of using media and tools in relationship marketing.
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Level 2 Behaviors
(Light Experience)
Compiles outreach efforts and results in the marketing Relationship Management (CRM) software.
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Level 3 Behaviors
(Moderate Experience)
Generates marketing plans to retain long-term relationships with prospects and customers.
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Level 4 Behaviors
(Extensive Experience)
Determines new relationship marketing opportunities to generate sales leads.
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Level 5 Behaviors
(Mastery)
Creates best practices in building customer relationships to address marketing needs.
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13 soft skills or competencies (core competencies) for Annuities Director (New Business)
Skill definition-Applying business intelligence to monitor and manage overall business performance towards goals.
Level 1 Behaviors
(General Familiarity)
Describes our organization's major strengths and weaknesses from a BPM perspective.
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Level 2 Behaviors
(Light Experience)
Enters performance-related data into the performance management dashboard.
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Level 3 Behaviors
(Moderate Experience)
Describes operational changes that will lead to improved business performance.
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Level 4 Behaviors
(Extensive Experience)
Leads management intervention to improve business functioning after data, mission, and goals review.
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Level 5 Behaviors
(Mastery)
Designs applications and systems that house performance data.
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Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Describes the concepts and principles of budgeting operations.
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Level 2 Behaviors
(Light Experience)
Gathers data from financial statements to help create budget plans and improve budgeting strategies.
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Level 3 Behaviors
(Moderate Experience)
Implements strategic operational efficiencies and techniques for conducting successful budgeting.
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Level 4 Behaviors
(Extensive Experience)
Determines system capabilities and needs to improve the process for financial budgeting.
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Level 5 Behaviors
(Mastery)
Develops financial models to support the strategic improvement of our budgeting processes.
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Summary of Annuities Director (New Business) skills and competencies
There are 6 hard skills for Annuities Director (New Business), Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
2 general skills for Annuities Director (New Business), Market Development, Relationship Marketing.
13 soft skills for Annuities Director (New Business), Business Performance Management, Budgeting, Planning and Organizing, etc.
While the list totals 21 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Annuities Director (New Business), he or she needs to be skilled in Business Performance Management, be skilled in Budgeting, and be skilled in Planning and Organizing.