Skills & Competencies for Licensing Manager

Licensing Manager job profile

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JOB SUMMARY for Licensing Manager

Oversees the licensing of employees responsible for the sale and marketing of insurance, loan, or investment products.

JOB RESPONSIBILITIES for Licensing Manager

Ensures compliance with all applicable regulations; maintains all necessary records.

Licensing Manager SALARY RANGE

BASE 50%
$98,939
TOTAL 50%
$108,734
Job Level
M03
Job Code
FA06000666
Education/Degree
Bachelor's Degree
Reports To
Head of a Unit/Department

Licensing 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 Licensing Manager 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 Licensing 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)
Cites different types of insurance policies and describes the advantages and disadvantages of each.
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Level 2 Behaviors
(Light Experience)
Compiles insurance quotes based on customer information and rates for insurance policies.
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Level 3 Behaviors
(Moderate Experience)
Examines insurance applications and letters from clients to determine necessary policy changes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates existing claims handling process to identify fraud and opportunities for optimization of outcomes.
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Level 5 Behaviors
(Mastery)
Champions the adoption of AI and automation technologies to streamline insurance operations.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -4
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)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
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Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
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Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
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Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
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Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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3 Licensing Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Licensing Manager
Proficiency Level - 4
5 Competency for - Licensing Manager
Proficiency Level - 5

2 general skills or competencies (Job family competencies) for Licensing Manager

1 Job Family Competencies – Document Management
Proficiency Level -3
Skill definition-Capturing, tracking, storing, and retrieving digital information to organize files, improve accuracy, and provide easy access to documents.
Level 1 Behaviors
(General Familiarity)
Cites the key essentials in maintaining a good document management system.
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Level 2 Behaviors
(Light Experience)
Assists in filing, printing, and scanning electronic records to support document management.
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Level 3 Behaviors
(Moderate Experience)
Executes record retention policies in managing and organizing documents on the file management system.
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Level 4 Behaviors
(Extensive Experience)
Directs document management processes by guiding document storage for easy access to information.
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Level 5 Behaviors
(Mastery)
Articulates technology into document management initiatives to ensure information is well organized and shared.
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2 Job Family Competencies – Records Management
Proficiency Level -3
Skill definition-Managing and preserving records to help an organization keep the documentation accessible for both business operations and compliance audits.
Level 1 Behaviors
(General Familiarity)
Compiles a list of issues and concerns for secured and accurate record keeping.
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Level 2 Behaviors
(Light Experience)
Collects data to prepare management reports of production results.
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Level 3 Behaviors
(Moderate Experience)
Handles record management assessments to identify any areas for improvement.
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Level 4 Behaviors
(Extensive Experience)
Audits recordkeeping entries to track and monitor implementation and sustainment progress.
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Level 5 Behaviors
(Mastery)
Adapts your organization with new approaches to improve records and information management.
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3 Licensing Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Licensing Manager
Proficiency Level - 4
5 Competency for - Licensing Manager
Proficiency Level - 5

9 soft skills or competencies (core competencies) for Licensing Manager

1 Core Competencies – Budgeting
Proficiency Level -2
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)
Compiles a list of basic issues and risks for conducting our budget processes.
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Level 2 Behaviors
(Light Experience)
Applies established guidelines for conducting our budgeting processes.
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Level 3 Behaviors
(Moderate Experience)
Communicates budget objectives and plans to help identify financial trends and create budget forecasts.
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Level 4 Behaviors
(Extensive Experience)
Anticipates organizational income and expenses to make forecasts and develop budget plans.
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Level 5 Behaviors
(Mastery)
Adapts relevant industry trends on techniques in financial budgeting in our organization.
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2 Core Competencies – Planning and Organizing
Proficiency Level -3
Skill definition-Managing and prioritizing resources and workloads by creating well-organized plans to attain organizational goals and objectives.
Level 1 Behaviors
(General Familiarity)
Cites potential challenges and workplace issues in delegating tasks that may impede well coordinated work.
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Level 2 Behaviors
(Light Experience)
Assists in identifying and breaking tasks into a sequence of steps for a more organized task plan.
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Level 3 Behaviors
(Moderate Experience)
Aligns tasks and priorities with business goals and objectives.
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Level 4 Behaviors
(Extensive Experience)
Creates programs to improve planning and organization of work to achieve business objectives.
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Level 5 Behaviors
(Mastery)
Builds and designs organizational systems and planning tools to enhance overall productivity.
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3 Licensing Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Licensing Manager
Proficiency Level - 4
5 Competency for - Licensing Manager
Proficiency Level - 5

Summary of Licensing Manager skills and competencies

There are 5 hard skills for Licensing Manager, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
2 general skills for Licensing Manager, Document Management, Records Management.
9 soft skills for Licensing Manager, Budgeting, Planning and Organizing, Coordination, 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 Licensing Manager, he or she needs to be proficient in Budgeting, be skilled in Planning and Organizing, and be skilled in Coordination.

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