Thank you for your kind words and insights. It's definitely gotten my mind racing.
I think that my idea of measuring a student's competency would be through an application of their skills in projects for each competency. For example, the Learning for Teaching competency could look at how well their students performed relative to the class in past year and evaluations from their supervisor. The Leadership Development competency could be an evaluation based on project-based metrics. For example, if I was leading a project to increase the participation of students at an event, I could track how many students attended, how many of those stayed until the end, through how many different avenues they heard about the event, how many questions were asked at the event, etc.
Portfolios would be another great way for student to showcase these projects, and having mentors in the form of a faculty member and industry professional could help students get feedback on and an evaluation of how well they subjectively performed.