Skills & Competencies for Finance & Insurance Manager

Finance & Insurance Manager job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Finance & Insurance Manager

Offers finance or insurance options to clients through established relationships with lenders/providers.

JOB RESPONSIBILITIES for Finance & Insurance Manager

Explains offerings and recommends products to meet the needs of the client. Negotiates contract terms and rates to meet the goals of the organization. Ensures applications and paperwork are completed correctly and in a timely manner.

Finance & Insurance Manager SALARY RANGE

BASE 50%
$90,568
TOTAL 50%
$100,099
Job Level
M01
Job Code
FA06000776
Education/Degree
Bachelor's Degree
Reports To
Head of a Unit/Department

Finance & Insurance Manager 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 Finance & Insurance Manager skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

7 hard skills or competencies (industry competencies) for Finance & Insurance Manager

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)
Describes the processes and rate standards for calculating the amount for insurance claims.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Gathers clients' financial information for the preparation of insurance contracts.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Performs thorough investigation and analysis of insurance claims to prevent fraudulent activities.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Leads the digitization and automation of insurance-related services to drive business transformation.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops loss control practices to reduce financial exposure and risks in insurance operations.
See 4 More Skill Behaviors
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)
Describes the importance of compliance programs in maintaining an insurance legal and regulatory environment.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
See 4 More Skill Behaviors
3 Finance & Insurance Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Finance & Insurance Manager
Proficiency Level - 4
5 Competency for - Finance & Insurance Manager
Proficiency Level - 5

2 general skills or competencies (Job family competencies) for Finance & Insurance Manager

1 Job Family Competencies – Customer Interaction
Proficiency Level -3
Skill definition-Fostering relationships and positive communication with customers to identify their demands to gain a competitive market advantage.
Level 1 Behaviors
(General Familiarity)
Lists possible issues and concerns regarding customer interaction.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Supports the development of creative ways to improve the value of customer interaction.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Performs good customer interaction to meet our customer standards and our objectives.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Recommends improvement opportunities in the customer interaction process to create positive service.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Leads innovative processes to maximize the timing and effectiveness of customer interactions.
See 4 More Skill Behaviors
2 Job Family Competencies – Legal Document Review
Proficiency Level -3
Skill definition-Reviewing and analyzing each data page in a collection to ensure accuracy, relevance, privilege, and confidentiality.
Level 1 Behaviors
(General Familiarity)
Lists legal terminology and concepts used in legal document review.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Uses document review workflows to sort and sift large amounts of legal documentation.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Updates legal databases and reviews legal documents for accuracy of legal protocols.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors the evaluation of complex documents for relevance, responsiveness, privilege, and confidentiality.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Oversees the investigation of specific cases to identify direct contact and proof of elements.
See 4 More Skill Behaviors
3 Finance & Insurance Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Finance & Insurance Manager
Proficiency Level - 4
5 Competency for - Finance & Insurance Manager
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Finance & Insurance Manager

1 Core Competencies – Business Acumen
Proficiency Level -2
Skill definition-Insight into our organization's business, goals, and values. Ability to design and implement initiatives that facilitate successful outcomes.
Level 1 Behaviors
(General Familiarity)
Names our key stakeholders from a business value chain perspective.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Supports the planning, implementation, and management of training programs that foster process improvements.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Implements effective marketing strategies that achieve improved business outcomes.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Trains others on various business and operation topics.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Evaluates industry and market trends to identify new business opportunities.
See 4 More Skill Behaviors
2 Core Competencies – Financial Acumen
Proficiency Level -3
Skill definition-Obtaining financial information and applying financial understanding to foster sound judgment and correct business decisions.
Level 1 Behaviors
(General Familiarity)
Lists obstacles and challenges in managing financial transactions of an organization.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Researches market trends and needs to help provide market insights for financial decision-making processes.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Reconciles figures during budgeting period and identifies variances that require immediate action.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Pursues various ways to optimize tax strategies to minimize taxes.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Sets organizational priorities by aligning finances with strategic business goals and objectives.
See 4 More Skill Behaviors
3 Finance & Insurance Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Finance & Insurance Manager
Proficiency Level - 4
5 Competency for - Finance & Insurance Manager
Proficiency Level - 5

Summary of Finance & Insurance Manager skills and competencies

There are 7 hard skills for Finance & Insurance Manager, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Finance and Actuarial Concepts, etc.
2 general skills for Finance & Insurance Manager, Customer Interaction, Legal Document Review.
10 soft skills for Finance & Insurance Manager, Business Acumen, Financial Acumen, Planning and Organizing, etc.
While the list totals 19 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 Finance & Insurance Manager, he or she needs to be proficient in Business Acumen, be skilled in Financial Acumen, and be proficient in Planning and Organizing.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.