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%
$93,426
TOTAL 50%
$103,148
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)
Reviews and analyzes claim applications to determine coverage eligibility and rates.
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Level 4 Behaviors
(Extensive Experience)
Monitors market trends in insurance services to deliver improved business impacts.
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Level 5 Behaviors
(Mastery)
Establishes and enforces standards for handling claims to maximize insurance workflow efficiency.
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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)
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 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 procedures and best practices related to document management functions.
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Level 2 Behaviors
(Light Experience)
Supports implementation of process changes on document management to ensure smooth file organization.
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Level 3 Behaviors
(Moderate Experience)
Reviews and finalizes all document change requests by the appropriate department on time.
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Level 4 Behaviors
(Extensive Experience)
Provides effective document management following relevant policies and procedures.
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Level 5 Behaviors
(Mastery)
Leads the development of a document lifecycle to ensure compliance and reduce errors.
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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)
Explains record management standard practices and procedures.
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Level 2 Behaviors
(Light Experience)
Supports record management and data collection to comply with laws and regulations.
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Level 3 Behaviors
(Moderate Experience)
Performs data maintenance for records to reduce the liabilities associated with document disposal.
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Level 4 Behaviors
(Extensive Experience)
Manages record management procedures to ensure better traceability.
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Level 5 Behaviors
(Mastery)
Creates a tracking system for record management to support continuous process improvement.
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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)
Explains the different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Produces budget reports showing planned vs. actual variances highlighted and explained.
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Level 3 Behaviors
(Moderate Experience)
Reviews and helps approve major budget adjustments to negotiate and reconcile line variances.
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Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
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Level 5 Behaviors
(Mastery)
Forecasts asset needs to leverage available inventory and data compilation for annual budgeting.
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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)
Explains the importance of planning and organization in building a good working environment.
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Level 2 Behaviors
(Light Experience)
Identifies key implications of ineffective planning and organization that affects decision-making.
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Level 3 Behaviors
(Moderate Experience)
Leverages key performance indicators to measure progress completion against performance metrics.
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Level 4 Behaviors
(Extensive Experience)
Manages the planning and sequencing of activities to create well-planned schedules and achieve goals on time.
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Level 5 Behaviors
(Mastery)
Establishes standards for planning and organization processes to align efforts with business goals.
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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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