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%
$102,952
TOTAL 50%
$114,589
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)
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)
Prepares insurance plans based on client needs to minimize financial risk or losses during uncertain events.
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Level 4 Behaviors
(Extensive Experience)
Monitors industry changes to improve the strategic directions of insurance operations.
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Level 5 Behaviors
(Mastery)
Develops strategic methods for selling insurance policies to increase the profit of our organization.
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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)
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 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)
Documents and maintains accurate internal records based on established procedures.
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Level 2 Behaviors
(Light Experience)
Conducts inspections with management to provide and document corrective actions.
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Level 3 Behaviors
(Moderate Experience)
Maintains accurate records of training management to preserve throughout the life cycle.
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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 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)
Discusses the considerations and concerns on applying SOP for the first time.
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Level 2 Behaviors
(Light Experience)
Gathers information on workflows and business controlling points.
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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 – 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 different purposes and uses of our organization's budgets.
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Level 2 Behaviors
(Light Experience)
Gathers financial data to help support management in budgeting analysis and forecasting.
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Level 3 Behaviors
(Moderate Experience)
Prepares and reviews the annual budgeting process to ensure effective and efficient budgeting.
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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)
Establishes operating procedures to guide the consistency and repeatability of our budgeting processes.
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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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