Skills & Competencies for Loss Control Manager
Loss Control Manager job profile
Book a Demo and Receive a Sample Job ProfileJOB SUMMARY for Loss Control Manager
Manages and develops loss control programs and administers risk management programs related to operating risk, insurance, and any class of financial risk.
JOB RESPONSIBILITIES for Loss Control Manager
Researches and reports on cost effective plans to minimize loss. Contributes to business plans and objectives. Ensures compliance with all regulations and keeps abreast of any changes to laws and regulations which pertain to loss control.
Loss Control Manager SALARY RANGE
BASE 50%
$141,026
TOTAL 50%
$160,696
Job Level
M03
Job Code
FA06000824
Education/Degree
Bachelor's Degree
Reports To
Head of a Unit/Department
Loss Control Manager Skills and Competencies List
9 hard skills or competencies (industry competencies) for Loss Control Manager
1
Industry Competency –
Insurance Industry
Proficiency Level -3
Level 1 Behaviors
(General Familiarity)
Explains the policy conditions of various insurance contracts and products.
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Level 2 Behaviors
(Light Experience)
Provides prompt responses to clients’ insurance-related questions and concerns.
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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 -3
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
Loss Control Manager
- Skill and Competency
Proficiency Level - 3
4
Skill and Competency -
Loss Control Manager
Proficiency Level - 4
5
Competency for -
Loss Control Manager
Proficiency Level - 5
12 soft skills or competencies (core competencies) for Loss Control Manager
1
Core Competencies –
Budgeting
Proficiency Level -3
Level 1 Behaviors
(General Familiarity)
Explains the importance of budget reporting and forecasting in our workplace.
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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)
Provides in-depth training to our entire organization about the zero based budgeting methodology.
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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 –
Risk Management
Proficiency Level -4
Level 1 Behaviors
(General Familiarity)
Obtains internal and external educational resources on risk management.
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Level 2 Behaviors
(Light Experience)
Logs and updates data in the risk information management system.
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Level 3 Behaviors
(Moderate Experience)
Recommends methods to control or reduce risks based on assessment results.
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Level 4 Behaviors
(Extensive Experience)
Leads root cause analysis of risk events to establish an effective feedback process.
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Level 5 Behaviors
(Mastery)
Forecasts changes in industry regulations and laws to control and minimize regulatory risk.
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3
Loss Control Manager
- Skill and Competency
Proficiency Level - 3
4
Skill and Competency -
Loss Control Manager
Proficiency Level - 4
5
Competency for -
Loss Control Manager
Proficiency Level - 5
Summary of Loss Control Manager skills and competencies
There are 9 hard skills for Loss Control Manager, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Loss Control Manager.
12 soft skills for Loss Control Manager, Budgeting, Risk Management, Planning and Organizing, etc.
While the list totals 21 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 Loss Control Manager, he or she needs to be skilled in Budgeting, be skilled in Risk Management, and be skilled in Planning and Organizing.
0 general skills for Loss Control Manager.
12 soft skills for Loss Control Manager, Budgeting, Risk Management, Planning and Organizing, etc.
While the list totals 21 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 Loss Control Manager, 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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