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)
Explains how reinsurance aids in meeting the long-term debts and financial obligations of a business.
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Level 2 Behaviors
(Light Experience)
Locates resources to acquire updates regarding market shifts and regulatory changes in insurance.
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Level 3 Behaviors
(Moderate Experience)
Prepares insurance plans based on client needs to minimize financial risk or losses during uncertain events.
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Level 4 Behaviors
(Extensive Experience)
Monitors industry changes to improve the strategic directions of insurance operations.
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Level 5 Behaviors
(Mastery)
Develops strategic methods for selling insurance policies to increase the profit of our organization.
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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 importance of compliance programs in maintaining an insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
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Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
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Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
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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)
Explains the concepts and principles of market development.
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Level 2 Behaviors
(Light Experience)
Gathers competitive market data to support the development of marketing development plans.
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Level 3 Behaviors
(Moderate Experience)
Uses market development strategies to identify new opportunities in promoting business products.
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Level 4 Behaviors
(Extensive Experience)
Establishes strategies for promoting products across different markets to increase business revenue.
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Level 5 Behaviors
(Mastery)
Designs new market segments for current products to maximize our revenue margins.
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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)
Describes the basic principles of relationship marketing.
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Level 2 Behaviors
(Light Experience)
Documents communication plans for relationship marketing initiatives.
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Level 3 Behaviors
(Moderate Experience)
Generates messages and advertisements to build relationships between brands and consumers.
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Level 4 Behaviors
(Extensive Experience)
Drives strategic relationships to improve customer experiences and marketing effectiveness.
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Level 5 Behaviors
(Mastery)
Creates new relationship marketing campaigns, refines existing campaigns, and translates results.
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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)
Explains the integral role business performance management plays in an organization.
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Level 2 Behaviors
(Light Experience)
Keeps a clear idea of work responsibilities and the standards of work expected of own business unit.
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Level 3 Behaviors
(Moderate Experience)
Encourages staff to create alternative ideas or solutions after an unsuccessful initial approach.
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Level 4 Behaviors
(Extensive Experience)
Manages the dashboard displaying the business performance via reports, KPIs, and other indicators.
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Level 5 Behaviors
(Mastery)
Measures the efficiency and success of initiatives by monitoring reports, analytics, and KPIs.
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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)
Explains the different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Gathers financial data to help support management in budgeting analysis and forecasting.
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Level 3 Behaviors
(Moderate Experience)
Prepares and reviews the annual budgeting process to ensure effective and efficient budgeting.
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Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
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Level 5 Behaviors
(Mastery)
Establishes operating procedures to guide the consistency and repeatability 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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