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%
$93,175
TOTAL 50%
$102,876
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)
Explains how reinsurance aids in meeting the long-term debts and financial obligations of a business.
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Level 2 Behaviors
(Light Experience)
Locates resources to acquire updates regarding market shifts and regulatory changes in insurance.
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Level 3 Behaviors
(Moderate Experience)
Prepares insurance plans based on client needs to minimize financial risk or losses during uncertain events.
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Level 4 Behaviors
(Extensive Experience)
Monitors industry changes to improve the strategic directions of insurance operations.
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Level 5 Behaviors
(Mastery)
Develops strategic methods for selling insurance policies to increase the profit of our organization.
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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)
Describes the importance of compliance programs in maintaining an insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
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Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
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Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
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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)
Explains the principles and procedures of document management systems.
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Level 2 Behaviors
(Light Experience)
Conducts basic document management tasks in your organization's computer systems.
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Level 3 Behaviors
(Moderate Experience)
Prepares electronic documents in adherence to formats and structures to ensure an organized document system.
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Level 4 Behaviors
(Extensive Experience)
Oversees the overall process of document handling according to document management policies.
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Level 5 Behaviors
(Mastery)
Establishes organizational structure for document management to achieve deliverables.
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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)
Documents and maintains accurate internal records based on established procedures.
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Level 2 Behaviors
(Light Experience)
Conducts inspections with management to provide and document corrective actions.
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Level 3 Behaviors
(Moderate Experience)
Maintains accurate records of training management to preserve throughout the life cycle.
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Level 4 Behaviors
(Extensive Experience)
Integrates program management to improve the efficiency of record management.
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Level 5 Behaviors
(Mastery)
Conceptualizes strategic plans for records and practices to streamline communication and workflow.
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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)
Describes the procedures for capital and expense allocation and budgeting.
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Level 2 Behaviors
(Light Experience)
Gathers data from financial statements to help create budget plans and improve budgeting strategies.
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Level 3 Behaviors
(Moderate Experience)
Implements strategic operational efficiencies and techniques for conducting successful budgeting.
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Level 4 Behaviors
(Extensive Experience)
Evaluates past decisions on budgetary considerations to improve the budgeting process.
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Level 5 Behaviors
(Mastery)
Establishes operating procedures to guide the consistency and repeatability of our budgeting processes.
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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)
Documents best practices in planning and organizing work to address important tasks.
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Level 2 Behaviors
(Light Experience)
Discusses the positive and negative outcomes of planning and organization in the workplace.
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Level 3 Behaviors
(Moderate Experience)
Helps set up new practices to anticipate and address the needs of planning and organization initiatives.
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Level 4 Behaviors
(Extensive Experience)
Facilitates the adoption of advanced tools to streamline the process of planning and organization.
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Level 5 Behaviors
(Mastery)
Develops best practices in planning and organizing activities to improve organizational efficiency.
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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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