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)
Explains the policy conditions of various insurance contracts and products.
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Level 2 Behaviors
(Light Experience)
Provides prompt responses to clients’ insurance-related questions and concerns.
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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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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)
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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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)
Cites common platforms used in facilitating customer interaction and engagement.
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Level 2 Behaviors
(Light Experience)
Compiles information and data related to customer interactions to appropriate systems.
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Level 3 Behaviors
(Moderate Experience)
Analyzes customer interactions to gain insights on customer needs and expectations.
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Level 4 Behaviors
(Extensive Experience)
Delivers optimal customer solutions during interaction to enhance customer interaction value.
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Level 5 Behaviors
(Mastery)
Builds customer service workflows to streamline the delivery of substantive customer interactions.
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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)
Cites examples of best practices used in responding to customer requests, queries, and issues.
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Level 2 Behaviors
(Light Experience)
Collects data on reoccurring product or service issues to provide the appropriate level of support.
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Level 3 Behaviors
(Moderate Experience)
Communicates with customers to identify their issues and needs and provide service recommendations.
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Level 4 Behaviors
(Extensive Experience)
Creates customer-centered solutions to issues and concerns to drive end-to-end customer experience.
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Level 5 Behaviors
(Mastery)
Adapts to new trends in customer service to streamline the customer support process across various channels.
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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)
Cites steps and tips to improve attention to detail in the workplace.
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Level 2 Behaviors
(Light Experience)
Keeps full attention when listening to understand the message.
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Level 3 Behaviors
(Moderate Experience)
Balances between accuracy and efficiency for different tasks or programs.
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Level 4 Behaviors
(Extensive Experience)
Creates and implements quality management processes for our business.
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Level 5 Behaviors
(Mastery)
Defines possible hurdles to projects and creates strategies to deal with them.
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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)
Cites examples of prioritization methods used to manage and save time in the workplace.
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Level 2 Behaviors
(Light Experience)
Adheres to schedules to allocate time for specific tasks efficiently.
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Level 3 Behaviors
(Moderate Experience)
Assesses relevance of tasks to prioritize and produce better quality work.
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Level 4 Behaviors
(Extensive Experience)
Creates programs to develop our employees' understanding of time demand and management.
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Level 5 Behaviors
(Mastery)
Builds a system to manage our business's workload and eliminate time-wasting activities.
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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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