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%
$85,069
TOTAL 50%
$86,952
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)
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 -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)
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 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)
Cites examples of advantages and disadvantages of customer relationships.
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Level 2 Behaviors
(Light Experience)
Assists in creating customer loyalty programs that fosters customer relations.
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Level 3 Behaviors
(Moderate Experience)
Aligns our values with the customer relationship management framework to create positive interactions.
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Level 4 Behaviors
(Extensive Experience)
Designs and manages programs that promote and maintain collaborative relationships with customers.
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Level 5 Behaviors
(Mastery)
Builds strategic action plans to improve the overall process of customer relationship management.
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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)
Describes the functions and benefits of accounting systems used within our business financial system.
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Level 2 Behaviors
(Light Experience)
Follows up with operations to ensure that approved invoices are turned in to accounting.
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Level 3 Behaviors
(Moderate Experience)
Audits transactions to ensure alignment with accounting systems and communicate discrepancies to management.
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Level 4 Behaviors
(Extensive Experience)
Directs the day-to-day operations of the corporate's Accounting Department.
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Level 5 Behaviors
(Mastery)
Establishes a monitoring system to evaluate compliance with GAAP and financial regulatory requirements.
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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)
Discusses the considerations and concerns on applying SOP for the first time.
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Level 2 Behaviors
(Light Experience)
Documents the SOP drafts and outlines for final approval.
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Level 3 Behaviors
(Moderate Experience)
Initiates SOP revisions to support continuous improvement of processes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates the benefits and drawbacks of a specific SOP; oversees the corresponding enhancements.
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Level 5 Behaviors
(Mastery)
Establishes formal policies and procedures to guide the our SOP practices.
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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)
Identifies the procedures for making sure that results are mistake-free.
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Level 2 Behaviors
(Light Experience)
Processes limited amounts of detailed information with reasonable accuracy.
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Level 3 Behaviors
(Moderate Experience)
Reviews and analyzes the accuracy of data and details.
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Level 4 Behaviors
(Extensive Experience)
Designs systems to help the team organize and track details and project progress.
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Level 5 Behaviors
(Mastery)
Develops best practices for identifying and correcting errors, oversights, and omissions.
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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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