Skills & Competencies for Annuities Representative (New Business)

Annuities Representative (New Business) job profile

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JOB SUMMARY for Annuities Representative (New Business)

Responsible for the annuities application process.

JOB RESPONSIBILITIES for Annuities Representative (New Business)

Assists applicants and checks forms for completeness and accuracy. Ensures compliance with all regulations and keeps abreast of any changes to laws and regulations which pertain to annuities applications. Reviews all fund transfers such as tax-free fund transfers, direct transfers and direct rollovers for completeness and compliance. Responsible for responding to inquiries from clients, agents, financial institutions and internal departments.

Annuities Representative (New Business) SALARY RANGE

BASE 50%
$47,137
TOTAL 50%
$50,237
Job Level
P01
Job Code
FA06000587
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Annuities Representative (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 Representative (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 Representative (New Business)

1 Industry Competency – Insurance Industry
Proficiency Level -1
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 processes and rate standards for calculating the amount for insurance claims.
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Level 2 Behaviors
(Light Experience)
Gathers clients' financial information for the preparation of insurance contracts.
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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 -1
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 Representative (New Business) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Representative (New Business)
Proficiency Level - 4
5 Competency for - Annuities Representative (New Business)
Proficiency Level - 5

3 general skills or competencies (Job family competencies) for Annuities Representative (New Business)

1 Job Family Competencies – Customer Interaction
Proficiency Level -2
Skill definition-Fostering relationships and positive communication with customers to identify their demands to gain a competitive market advantage.
Level 1 Behaviors
(General Familiarity)
Describes the principles of customer interaction in providing exceptional customer service.
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Level 2 Behaviors
(Light Experience)
Documents customer interactions within the appropriate systems.
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Level 3 Behaviors
(Moderate Experience)
Generates ideas and actions to improve the efficiency and results of customer interaction.
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Level 4 Behaviors
(Extensive Experience)
Directs customer interaction efforts to deliver services according to customer requirements.
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Level 5 Behaviors
(Mastery)
Champions valuable customer interactions to optimize consumer insights and reduce customer churn rates.
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2 Job Family Competencies – Customer Support
Proficiency Level -2
Skill definition-Providing responsive and relevant support to customers to address issues and problems on our products or services and ensure customer satisfaction.
Level 1 Behaviors
(General Familiarity)
Describes the process flow in delivering customer care support.
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Level 2 Behaviors
(Light Experience)
Documents customer interactions to track the promptness and effectiveness of provided resolutions.
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Level 3 Behaviors
(Moderate Experience)
Handles complex issues and inquiries of customers to avoid escalations and increase service.
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Level 4 Behaviors
(Extensive Experience)
Evaluates alternative service delivery mechanisms to satisfy customer requests and needs.
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Level 5 Behaviors
(Mastery)
Designs operational workflows to ensure quality technical support and positive customer feedback.
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3 Annuities Representative (New Business) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Representative (New Business)
Proficiency Level - 4
5 Competency for - Annuities Representative (New Business)
Proficiency Level - 5

7 soft skills or competencies (core competencies) for Annuities Representative (New Business)

1 Core Competencies – Attention to Detail
Proficiency Level -2
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Explains why attention to detail plays an important role in own function or unit.
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Level 2 Behaviors
(Light Experience)
Performs assigned responsibilities according to standard procedures and standards.
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Level 3 Behaviors
(Moderate Experience)
Implements a variety of cross-checking approaches and mechanisms.
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Level 4 Behaviors
(Extensive Experience)
Demonstrates expertise in quality assurance tools, techniques, and standards.
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Level 5 Behaviors
(Mastery)
Designs techniques for measuring the cost and impact of errors.
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2 Core Competencies – Time Management
Proficiency Level -1
Skill definition-Managing and setting priorities, goals, and timetables to boost productivity and efficiency in completing tasks.
Level 1 Behaviors
(General Familiarity)
Describes how to utilize a time management matrix for efficient completion of most important tasks.
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Level 2 Behaviors
(Light Experience)
Applies principles, habits, and skills in organizing schedules to manage time productively.
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Level 3 Behaviors
(Moderate Experience)
Demonstrates a willingness to abandon tasks or projects that prove to be of little value to the business.
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Level 4 Behaviors
(Extensive Experience)
Develops best techniques and methods to improve time management throughout our business.
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Level 5 Behaviors
(Mastery)
Designs tools to efficiently organize and keep track of tasks in progress to boost productivity.
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3 Annuities Representative (New Business) - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Representative (New Business)
Proficiency Level - 4
5 Competency for - Annuities Representative (New Business)
Proficiency Level - 5

Summary of Annuities Representative (New Business) skills and competencies

There are 6 hard skills for Annuities Representative (New Business), Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
3 general skills for Annuities Representative (New Business), Customer Interaction, Customer Support, Market Development.
7 soft skills for Annuities Representative (New Business), Attention to Detail, Time Management, Initiative, etc.
While the list totals 16 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 Representative (New Business), he or she needs to be proficient in Attention to Detail, be proficient in Time Management, and be proficient in Initiative.

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