Skills & Competencies for Annuities Director (New Business)

Annuities Director (New Business) job profile

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JOB SUMMARY for Annuities Director (New Business)

Directs the development of new accounts and business relationships through sales, marketing, and referrals.

JOB RESPONSIBILITIES for Annuities Director (New Business)

Reviews applications and contracts and ensures that all transactions comply with state and federal regulations. Stays abreast of any changes to laws and regulations which affect the activities of the business. Responsible for staffing and training of unit and ensures staff has full knowledge of all current regulations and provides prompt and efficient service to customers.

Annuities Director (New Business) SALARY RANGE

BASE 50%
$115,418
TOTAL 50%
$128,283
Job Level
M04
Job Code
EX05000165
Education/Degree
Bachelor's Degree
Reports To
Top Management

Annuities Director (New Business) Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Annuities Director (New Business) skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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6 hard skills or competencies (industry competencies) for Annuities Director (New Business)

1 Industry Competency – Insurance Industry
Proficiency Level -3
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)
Cites different types of insurance policies and describes the advantages and disadvantages of each.
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Level 2 Behaviors
(Light Experience)
Compiles insurance quotes based on customer information and rates for insurance policies.
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Level 3 Behaviors
(Moderate Experience)
Applies risk management techniques to minimize financial impacts in insurance services.
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Level 4 Behaviors
(Extensive Experience)
Contributes to the development of insurance risk mitigation strategies to drive process improvements.
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Level 5 Behaviors
(Mastery)
Builds claim roadmaps and substantiation plans in compliance with insurance risk management practices.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -3
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)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
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Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
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Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
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Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
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Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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3 Annuities Director (New Business) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Director (New Business)
Proficiency Level - 4
5 Competency for - Annuities Director (New Business)
Proficiency Level - 5

2 general skills or competencies (Job family competencies) for Annuities Director (New Business)

1 Job Family Competencies – Market Development
Proficiency Level -4
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)
Compares the difference between market penetration and market development.
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Level 2 Behaviors
(Light Experience)
Assists in identifying opportunities to sell current products in the previously unexplored market.
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Level 3 Behaviors
(Moderate Experience)
Executes market development strategies to drive continuous growth and profitability in the business.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages marketing development strategies to increase our revenue margins.
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Level 5 Behaviors
(Mastery)
Builds control systems to measure the effectiveness of our market development strategy.
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2 Job Family Competencies – Relationship Marketing
Proficiency Level -3
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 relationship marketing best practices.
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Level 2 Behaviors
(Light Experience)
Assists in building relationships with customers to support marketing initiatives and objectives.
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Level 3 Behaviors
(Moderate Experience)
Coordinates with vendors and customers to ensure high-quality and timely execution of tasks.
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Level 4 Behaviors
(Extensive Experience)
Creates a partner-originated pipeline through partner relationships and marketing programs development.
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Level 5 Behaviors
(Mastery)
Adapts to new marketing trends to build proactive relationships with customers and boost revenue.
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3 Annuities Director (New Business) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Director (New Business)
Proficiency Level - 4
5 Competency for - Annuities Director (New Business)
Proficiency Level - 5

13 soft skills or competencies (core competencies) for Annuities Director (New Business)

1 Core Competencies – Business Performance Management
Proficiency Level -3
Skill definition-Applying business intelligence to monitor and manage overall business performance towards goals.
Level 1 Behaviors
(General Familiarity)
Cites the processes involved in business performance management.
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Level 2 Behaviors
(Light Experience)
Designs new reports to surface new action items.
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Level 3 Behaviors
(Moderate Experience)
Collates data to help in assessing our organization's operation holistically.
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Level 4 Behaviors
(Extensive Experience)
Creates an environment where staff can perform to the best of their abilities.
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Level 5 Behaviors
(Mastery)
Creates interventions based on the data reviewed to improve future performance.
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2 Core Competencies – Budgeting
Proficiency Level -3
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)
Compiles a list of basic issues and risks for conducting our budget processes.
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Level 2 Behaviors
(Light Experience)
Applies established guidelines for conducting our budgeting processes.
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Level 3 Behaviors
(Moderate Experience)
Communicates budget objectives and plans to help identify financial trends and create budget forecasts.
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Level 4 Behaviors
(Extensive Experience)
Anticipates organizational income and expenses to make forecasts and develop budget plans.
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Level 5 Behaviors
(Mastery)
Adapts relevant industry trends on techniques in financial budgeting in our organization.
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3 Annuities Director (New Business) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Director (New Business)
Proficiency Level - 4
5 Competency for - Annuities Director (New Business)
Proficiency Level - 5

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.

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