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)
Identifies the key legislation and regulations governing insurance contracts.
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Level 2 Behaviors
(Light Experience)
Records and maintains insurance policy and claims information in a database system.
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Level 3 Behaviors
(Moderate Experience)
Utilizes various tools and technologies to optimize insurance claims turnaround cycles.
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Level 4 Behaviors
(Extensive Experience)
Provides recommendations for improving methods and procedures to enhance insurance claims handling.
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Level 5 Behaviors
(Mastery)
Leads the deployment of strategic approaches to address complex insurance risk management programs.
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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)
Discusses the importance of insurance regulations in protecting clients' financial security and assets.
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Level 2 Behaviors
(Light Experience)
Gathers and interprets policy contracts to understand insurance legal and regulatory standards.
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Level 3 Behaviors
(Moderate Experience)
Maintains financial and market regulation to validate insurance's accounting methods and procedures.
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Level 4 Behaviors
(Extensive Experience)
Sets guidelines to promote fairness and transparency in financial markets in providing insurance products.
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Level 5 Behaviors
(Mastery)
Develops compliance and risk management standards to manage overall insurance legal and regulatory environment.
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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)
Explains the role of market research in the market development process.
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Level 2 Behaviors
(Light Experience)
Selects and uses prospecting tools in identifying new market leads.
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Level 3 Behaviors
(Moderate Experience)
Utilizes industry-specific tools to manage our market development strategy effectively.
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Level 4 Behaviors
(Extensive Experience)
Manages the execution of sales enablement packages to support our market development programs.
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Level 5 Behaviors
(Mastery)
Develops and implements a promotional strategy to penetrate the new market.
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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 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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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)
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)
Deploys business performance management solutions across the entire organization.
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Level 4 Behaviors
(Extensive Experience)
Evaluates the performance of staff and departments to make strategic decisions about production modifications.
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Level 5 Behaviors
(Mastery)
Creates interventions based on the data reviewed to improve future performance.
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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)
Compiles a list of basic issues and risks for conducting our budget processes.
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Level 2 Behaviors
(Light Experience)
Assists in developing and improving budgeting models, plans, and strategies.
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Level 3 Behaviors
(Moderate Experience)
Compares planned budgets vs. actual expenditures, identifies, reports, and explains variances.
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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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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.