Skills & Competencies for Branch Manager - Insurance

Branch Manager - Insurance job profile

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JOB SUMMARY for Branch Manager - Insurance

Manages the daily activities of the branch office, with duties such as insurance claim processing (home, auto, life, mortgage, etc.), marketing, auditing, loss prevention, and underwriting.

JOB RESPONSIBILITIES for Branch Manager - Insurance

Hires, trains, and monitors the performance of new insurance agents. Provides updates to the regional manager regarding operating results, insurance trends, and competitor methods. May provide guidance on more complex issues. Develops new business through selling and marketing activities.

Branch Manager - Insurance SALARY RANGE

BASE 50%
$127,837
TOTAL 50%
$144,301
Job Level
M03
Job Code
FA06000207
Education/Degree
Bachelor's Degree
Reports To
Regional Manager

Branch Manager - Insurance 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 Branch Manager - Insurance skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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7 hard skills or competencies (industry competencies) for Branch Manager - Insurance

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)
Names the commonly used tools and techniques for insurance planning and risk management.
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Level 2 Behaviors
(Light Experience)
Reports any discrepancies encountered in reviewing policy records and documentation.
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Level 3 Behaviors
(Moderate Experience)
Works with insurance agents and team members to update and process insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Recommends alternative insurance claims processing methods to minimize operational costs.
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Level 5 Behaviors
(Mastery)
Stays abreast of the changes in insurance industry laws to ensure our product and service adherence.
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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)
Explains the application of insurance regulatory laws to avoid civil penalties and license suspension.
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Level 2 Behaviors
(Light Experience)
Supports the execution of a legal and regulatory framework to promote strict insurance compliance.
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Level 3 Behaviors
(Moderate Experience)
Performs compliance reviews to determine possible violations and deficiencies in insurance regulations.
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Level 4 Behaviors
(Extensive Experience)
Trains teams on new laws and regulations to reduce liability risks and compliance violations.
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Level 5 Behaviors
(Mastery)
Establishes best practices in creating insurance laws and regulations to prevent frauds and malpractices.
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3 Branch Manager - Insurance - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Branch Manager - Insurance
Proficiency Level - 4
5 Competency for - Branch Manager - Insurance
Proficiency Level - 5

2 general skills or competencies (Job family competencies) for Branch Manager - Insurance

1 Job Family Competencies – Market Development
Proficiency Level -3
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)
Lists the importance of creating a market development strategy for businesses.
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Level 2 Behaviors
(Light Experience)
Supports the development of sales strategies and forecasting using data and market insights.
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Level 3 Behaviors
(Moderate Experience)
Works with other teams in developing a plan to introduce our products to new customers.
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Level 4 Behaviors
(Extensive Experience)
Recommends improvement opportunities in product development processes to drive cost efficiencies.
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Level 5 Behaviors
(Mastery)
Shares insights of market need with business executives to generate a pipeline of innovation opportunities.
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2 Job Family Competencies – Sales Management
Proficiency Level -3
Skill definition-Meeting or exceeding the company’s sales targets for sales functions.
Level 1 Behaviors
(General Familiarity)
Lists all the technologies, techniques, and tools for the sales management process.
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Level 2 Behaviors
(Light Experience)
Supports the management and resolution of sales operations issues.
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Level 3 Behaviors
(Moderate Experience)
Prepares customized sales performance summaries to support the management in developing a sales plan.
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Level 4 Behaviors
(Extensive Experience)
Oversees the overall execution of strategic plans.
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Level 5 Behaviors
(Mastery)
Establishes sales methodologies for end-to-end sales process management.
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3 Branch Manager - Insurance - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Branch Manager - Insurance
Proficiency Level - 4
5 Competency for - Branch Manager - Insurance
Proficiency Level - 5

11 soft skills or competencies (core competencies) for Branch Manager - Insurance

1 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)
Lists the elements and the steps on how to conduct budgeting.
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Level 2 Behaviors
(Light Experience)
Tracks and reports financial inefficiencies to ensure smooth functioning of our budgeting processes.
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Level 3 Behaviors
(Moderate Experience)
Works with senior management in creating appropriate budget amounts.
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Level 4 Behaviors
(Extensive Experience)
Recommends alternative budgeting strategies for resolving budgeting issues in our workplace.
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Level 5 Behaviors
(Mastery)
Introduces technologies, policies, and programs for more effective budget management.
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2 Core Competencies – Risk Management
Proficiency Level -4
Skill definition-The identification, evaluation, and prioritization of various risks, followed by controlling practices to minimize any adverse impact.
Level 1 Behaviors
(General Familiarity)
Understands the practical concepts and processes of risk management.
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Level 2 Behaviors
(Light Experience)
Supports risk owners with management of operational risks, including but not limited to risk assessment, risk control, and risk monitoring.
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Level 3 Behaviors
(Moderate Experience)
Utilizes various analytical tools and techniques to conduct risk management activities.
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Level 4 Behaviors
(Extensive Experience)
Provides risk training for employees on risk categories, identification, quantification, and control.
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Level 5 Behaviors
(Mastery)
Promotes a risk aversion culture to balance and manage risk while conducting business.
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3 Branch Manager - Insurance - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Branch Manager - Insurance
Proficiency Level - 4
5 Competency for - Branch Manager - Insurance
Proficiency Level - 5

Summary of Branch Manager - Insurance skills and competencies

There are 7 hard skills for Branch Manager - Insurance, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
2 general skills for Branch Manager - Insurance, Market Development, Sales Management.
11 soft skills for Branch Manager - Insurance, Budgeting, Risk Management, Planning and Organizing, etc.
While the list totals 20 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 Branch Manager - Insurance, he or she needs to be skilled in Budgeting, be skilled in Risk Management, and be skilled in Planning and Organizing.

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