Skills & Competencies for Pension Administrator, Sr.

Pension Administrator, Sr. job profile

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JOB SUMMARY for Pension Administrator, Sr.

Responsible for the administration of retirement plans.

JOB RESPONSIBILITIES for Pension Administrator, Sr.

Maintains plan records and ensures compliance with federal regulations. Communicates with customers and assists with plan design and benefit distributions. Coordinates plan activities with other departments to promote efficiencies for low-cost administrative services. May have an ASPA designation.

Pension Administrator, Sr. SALARY RANGE

BASE 50%
$87,373
TOTAL 50%
$89,307
Job Level
P03
Job Code
FA06000573
Education/Degree
Bachelor's Degree
Reports To
Manager

Pension Administrator, Sr. 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 Pension Administrator, Sr. skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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6 hard skills or competencies (industry competencies) for Pension Administrator, Sr.

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.
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Level 2 Behaviors
(Light Experience)
Gathers clients' financial information for the preparation of insurance contracts.
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Level 3 Behaviors
(Moderate Experience)
Performs thorough investigation and analysis of insurance claims to prevent fraudulent activities.
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Level 4 Behaviors
(Extensive Experience)
Leads the digitization and automation of insurance-related services to drive business transformation.
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Level 5 Behaviors
(Mastery)
Develops loss control practices to reduce financial exposure and risks in insurance operations.
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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.
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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 Pension Administrator, Sr. - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Pension Administrator, Sr.
Proficiency Level - 4
5 Competency for - Pension Administrator, Sr.
Proficiency Level - 5

3 general skills or competencies (Job family competencies) for Pension Administrator, Sr.

1 Job Family Competencies – Customer Relations
Proficiency Level -3
Skill definition-Creating mutually beneficial relationships with customers to improve their overall experience.
Level 1 Behaviors
(General Familiarity)
Explains the importance of customer relations in delivering good customer service.
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Level 2 Behaviors
(Light Experience)
Reports customer escalations to identify and mitigate negative impacts on customer relations.
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Level 3 Behaviors
(Moderate Experience)
Handles customer issues and concerns effectively to maximize customer satisfaction and relations.
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Level 4 Behaviors
(Extensive Experience)
Facilitates strategic customer relationships to uncover and meet customer expectations.
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Level 5 Behaviors
(Mastery)
Creates best practices to balance customer needs with our interests to create positive relationships.
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2 Job Family Competencies – Accounting
Proficiency Level -2
Skill definition-Creating financial statements and reports based on the summary of financial and business transactions.
Level 1 Behaviors
(General Familiarity)
Explains the basic concepts and major terminology of accounting.
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Level 2 Behaviors
(Light Experience)
Records financial transactions in the general ledger following accepted accounting principles.
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Level 3 Behaviors
(Moderate Experience)
Maintains consistency of accounts payable functions with sound accounting principles.
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Level 4 Behaviors
(Extensive Experience)
Leads the development of an accounting system to manage financial records and other information.
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Level 5 Behaviors
(Mastery)
Improves accounting procedures by analyzing current processes and adopting advanced methods.
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3 Pension Administrator, Sr. - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Pension Administrator, Sr.
Proficiency Level - 4
5 Competency for - Pension Administrator, Sr.
Proficiency Level - 5

8 soft skills or competencies (core competencies) for Pension Administrator, Sr.

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -2
Skill definition-A set of written instructions that describes the step-by-step activities to complete tasks in compliance with business standards and industry regulations.
Level 1 Behaviors
(General Familiarity)
Identifies our internal and external sources for the SOPs we need.
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Level 2 Behaviors
(Light Experience)
Participates in the implementation of new SOPs and enhancement of existing ones.
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Level 3 Behaviors
(Moderate Experience)
Modifies SOPs accordingly to reflect changes in our business practices and policies.
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Level 4 Behaviors
(Extensive Experience)
Optimizes the current SOP development and implementation processes.
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Level 5 Behaviors
(Mastery)
Leads cross-functional efforts to develop and implement SOPs across our organization.
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2 Core Competencies – Attention to Detail
Proficiency Level -3
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Lists best practices and tools to maintain high accuracy and thoroughness in the workplace.
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Level 2 Behaviors
(Light Experience)
Uses checklists to ensure that information goes out error-free.
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Level 3 Behaviors
(Moderate Experience)
Suggests solutions to issues that arise while executing the tasks.
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Level 4 Behaviors
(Extensive Experience)
Employs techniques for motivating personnel to meet or exceed accuracy goals.
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Level 5 Behaviors
(Mastery)
Leads the creation of tools for enhancing and assuring accuracy.
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3 Pension Administrator, Sr. - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Pension Administrator, Sr.
Proficiency Level - 4
5 Competency for - Pension Administrator, Sr.
Proficiency Level - 5

Summary of Pension Administrator, Sr. skills and competencies

There are 6 hard skills for Pension Administrator, Sr., Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
3 general skills for Pension Administrator, Sr., Customer Relations, Accounting, Retirement Programs.
8 soft skills for Pension Administrator, Sr., Standard Operating Procedures (SOP), Attention to Detail, Time Management, etc.
While the list totals 17 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 Pension Administrator, Sr., he or she needs to be proficient in Standard Operating Procedures (SOP), be skilled in Attention to Detail, and be skilled in Time Management.

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