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%
$56,461
TOTAL 50%
$62,938
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)
Cites possible factors that affect customer retention rates.
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Level 2 Behaviors
(Light Experience)
Applies customer modeling techniques to identify and understand customer behaviors.
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Level 3 Behaviors
(Moderate Experience)
Analyzes customer feedback to execute new techniques in ensuring customer retention.
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Level 4 Behaviors
(Extensive Experience)
Creates plans and framework to increase customer retention growth and mitigate competitive threats.
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Level 5 Behaviors
(Mastery)
Adapts to industry best practices and trends in customer retention to secure customer loyalty.
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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)
Cites the best practices used in improving customer satisfaction.
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Level 2 Behaviors
(Light Experience)
Adheres to our policies in providing customer satisfaction.
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Level 3 Behaviors
(Moderate Experience)
Analyzes survey results to identify opportunities in improving customer service and satisfaction.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages KPIs to measure the effectiveness of customer satisfaction.
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Level 5 Behaviors
(Mastery)
Champions the adoption of digital analytics to measure customer satisfaction.
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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)
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 -3
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 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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