Skills & Competencies for Annuities Retention Specialist

Annuities Retention Specialist job profile

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JOB SUMMARY for Annuities Retention Specialist

Coordinates with service representatives and clients to assist with retaining the client's annuity business.

JOB RESPONSIBILITIES for Annuities Retention Specialist

Provides knowledge and expertise to clients in order to meet their financial goals and to clearly understand various options that are available with annuities. Reviews surrender requests and contacts clients to re-engage and identify opportunities for additional sales. Makes recommendations to product line management to improve service and design of products that encourage client retention.

Annuities Retention Specialist SALARY RANGE

BASE 50%
$56,590
TOTAL 50%
$63,079
Job Level
P03
Job Code
FA06000584
Education/Degree
Bachelor's Degree
Reports To
Manager

Annuities Retention Specialist 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 Retention Specialist skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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5 hard skills or competencies (industry competencies) for Annuities Retention Specialist

1 Industry Competency – Insurance Industry
Proficiency Level -2
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 -2
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 Retention Specialist - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Retention Specialist
Proficiency Level - 4
5 Competency for - Annuities Retention Specialist
Proficiency Level - 5

4 general skills or competencies (Job family competencies) for Annuities Retention Specialist

1 Job Family Competencies – Customer Retention
Proficiency Level -3
Skill definition-Attracting, retaining, and converting customers into loyal buyers to reduce attrition, increase ROI, and acquire new customers.
Level 1 Behaviors
(General Familiarity)
Explains our process and methods used in ensuring customer retention.
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Level 2 Behaviors
(Light Experience)
Follows standard process in identifying and escalating issues to ensure customer retention.
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Level 3 Behaviors
(Moderate Experience)
Defines key performance metrics to achieve customer retention goals.
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Level 4 Behaviors
(Extensive Experience)
Evaluates key opportunities to increase customer retention to build customer referrals and loyalty.
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Level 5 Behaviors
(Mastery)
Champions the adoption of advanced technology to improve customer retention metrics.
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2 Job Family Competencies – Customer Satisfaction
Proficiency Level -3
Skill definition-Collecting, analyzing, and measuring satisfaction levels of customers to improve our business's service and products.
Level 1 Behaviors
(General Familiarity)
Explains the framework process used to monitor and ensure customer satisfaction.
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Level 2 Behaviors
(Light Experience)
Collects customer feedback to support the analysis of customer satisfaction scores.
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Level 3 Behaviors
(Moderate Experience)
Handles challenges and issues that affect high level customer satisfaction.
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Level 4 Behaviors
(Extensive Experience)
Integrates customer service analytics to forecast customers' future needs and maximize satisfaction.
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Level 5 Behaviors
(Mastery)
Establishes policies and procedures to align our core values with customer service goals.
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3 Annuities Retention Specialist - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Retention Specialist
Proficiency Level - 4
5 Competency for - Annuities Retention Specialist
Proficiency Level - 5

7 soft skills or competencies (core competencies) for Annuities Retention Specialist

1 Core Competencies – Attention to Detail
Proficiency Level -3
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Identifies the procedures for making sure that results are mistake-free.
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Level 2 Behaviors
(Light Experience)
Records all appointments on the calendar to easily track daily activities.
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Level 3 Behaviors
(Moderate Experience)
Reviews and analyzes the accuracy of data and details.
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Level 4 Behaviors
(Extensive Experience)
Designs systems to help the team organize and track details and project progress.
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Level 5 Behaviors
(Mastery)
Develops best practices for identifying and correcting errors, oversights, and omissions.
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2 Core Competencies – Time Management
Proficiency Level -3
Skill definition-Managing and setting priorities, goals, and timetables to boost productivity and efficiency in completing tasks.
Level 1 Behaviors
(General Familiarity)
Discusses workplace barriers and issues that may affect time management.
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Level 2 Behaviors
(Light Experience)
Collects and compiles information in an organized manner to finish tasks efficiently.
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Level 3 Behaviors
(Moderate Experience)
Handles workplace obstacles to maintain focus and manage time efficiently.
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Level 4 Behaviors
(Extensive Experience)
Improves processes to organize workloads of teams efficiently.
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Level 5 Behaviors
(Mastery)
Keeps current on the latest working models on time management to drive organizational productivity.
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3 Annuities Retention Specialist - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Annuities Retention Specialist
Proficiency Level - 4
5 Competency for - Annuities Retention Specialist
Proficiency Level - 5

Summary of Annuities Retention Specialist skills and competencies

There are 5 hard skills for Annuities Retention Specialist, Insurance Industry, Insurance Legal and Regulatory Environment, Annuity Products and Services, etc.
4 general skills for Annuities Retention Specialist, Customer Retention, Customer Satisfaction, Customer Support, etc.
7 soft skills for Annuities Retention Specialist, Attention to Detail, Time Management, Problem Solving, 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 Retention Specialist, he or she needs to be skilled in Attention to Detail, be skilled in Time Management, and be proficient in Problem Solving.

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