Skills & Competencies for Policy Change Director

Policy Change Director job profile

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JOB SUMMARY for Policy Change Director

Manages all aspects of insurance policy changes according to company guidelines.

JOB RESPONSIBILITIES for Policy Change Director

Designs and implements procedures used for expediting policy changes and the calculations used to determine associated costs. Develops, implements, and communicates policies and practices concerning policy changes and related costs.

Policy Change Director SALARY RANGE

BASE 50%
$103,409
TOTAL 50%
$115,101
Job Level
M04
Job Code
FA06000571
Education/Degree
Bachelor's Degree
Reports To
Top Management

Policy Change Director 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 Policy Change Director skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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7 hard skills or competencies (industry competencies) for Policy Change Director

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)
Identifies the key legislation and regulations governing insurance contracts.
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Level 2 Behaviors
(Light Experience)
Records and maintains insurance policy and claims information in a database system.
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Level 3 Behaviors
(Moderate Experience)
Utilizes various tools and technologies to optimize insurance claims turnaround cycles.
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Level 4 Behaviors
(Extensive Experience)
Provides recommendations for improving methods and procedures to enhance insurance claims handling.
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Level 5 Behaviors
(Mastery)
Leads the deployment of strategic approaches to address complex insurance risk management programs.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -3
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 Policy Change Director - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Policy Change Director
Proficiency Level - 4
5 Competency for - Policy Change Director
Proficiency Level - 5

1 general skill or competency (Job family competency) for Policy Change Director

1 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)
Organizes document and record management activities to help detect errors and prevent fraud.
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Level 5 Behaviors
(Mastery)
Develops and implements procedures to document scanning and retention in the management system.
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3 Policy Change Director - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Policy Change Director
Proficiency Level - 4
5 Competency for - Policy Change Director
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Policy Change Director

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -4
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 – Budgeting
Proficiency Level -3
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 importance of budget reporting and forecasting in our workplace.
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Level 2 Behaviors
(Light Experience)
Supplies supporting information and justification for major line items.
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Level 3 Behaviors
(Moderate Experience)
Utilizes software tools and applications to forecast our annual budget accurately.
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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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3 Policy Change Director - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Policy Change Director
Proficiency Level - 4
5 Competency for - Policy Change Director
Proficiency Level - 5

Summary of Policy Change Director skills and competencies

There are 7 hard skills for Policy Change Director, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
1 general skills for Policy Change Director, Records Management.
10 soft skills for Policy Change Director, Standard Operating Procedures (SOP), Budgeting, Planning and Organizing, etc.
While the list totals 18 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 Policy Change Director, he or she needs to be skilled in Standard Operating Procedures (SOP), be skilled in Budgeting, and be skilled in Planning and Organizing.

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