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%
$115,670
TOTAL 50%
$128,565
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)
Describes the current systems and scope of services provided by insurance organizations.
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Level 2 Behaviors
(Light Experience)
Follows industry best practices when preparing reports that detail risk assessment findings in insurance claims.
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Level 3 Behaviors
(Moderate Experience)
Makes necessary adjustments to insurance policies to meet customer needs.
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Level 4 Behaviors
(Extensive Experience)
Handles complex insurance losses through negotiation of favorable claims settlements with insurance companies.
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Level 5 Behaviors
(Mastery)
Develops and establishes risk reduction best practices to prevent fraudulent claims transactions.
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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)
Describes the basic structure of insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Complies with insurance legal and regulatory principles to safeguard the rights and interests of the insured.
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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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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)
Describes the components of market development programs.
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Level 2 Behaviors
(Light Experience)
Documents and reports the market development opportunities to senior management.
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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)
Delivers key market development strategies to drive brand awareness across various platforms.
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Level 5 Behaviors
(Mastery)
Creates a product development roadmap to optimize the trade-off between customer value and time to market.
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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 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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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)
Describes our organization's major strengths and weaknesses from a BPM perspective.
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Level 2 Behaviors
(Light Experience)
Gathers and compiles BPM-based data about our organization for quantitative information.
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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)
Drives the optimization of performance reporting structures and repeatable processes.
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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)
Describes the procedures for capital and expense allocation and budgeting.
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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)
Evaluates past decisions on budgetary considerations to improve the budgeting process.
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Level 5 Behaviors
(Mastery)
Develops financial models to support the strategic improvement of our budgeting processes.
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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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