The purpose of this project was to evaluate a pharmacist annual competency evaluation (PACE) program for pharmacists at a single site. The results of this evaluation will be utilized to understand the effectiveness of PACE and provide suggestions for programmatic improvement. The primary outcome of this study was to evaluate the change in pharmacist composite self-efficacy (PSE) scores before and 1 month after the PACE program. The composite score was composed of self-efficacy related to 5 different clinical tasks. The 5 tasks selected were advanced cardiac life support, chemotherapy, dofetilide, patient-controlled analgesia pump, and alteplase (tPA). Secondary outcomes included evaluating each component of the composite score at 1 month, changes in composite score and components at 1 year, and changes in the generalized self-efficacy (GSE) survey at 1 month. Last, themes were identified from a feedback questionnaire after completion of PACE. For the primary endpoint, PSE composite scores increased by 12.6% from pre-PACE to post-PACE at 1 month (79.6 ± 12.2 vs 89.7 ± 5.8; < .001). All components of the composite PSE score showed a statistically significant improvement from baseline to 1 month. At 1 year, tPA was the only clinical task that was statistically different from baseline. GSE scores increased by 11.4% from pre-PACE to post-PACE (31.6 ± 3.6 vs 35.4 ± 2.8). No pharmacists required remediation. The competency assessment program led to improvements in pharmacist self-efficacy in dealing with low-volume, high-risk clinical pharmacy tasks. Future studies could assess various forms of competency assessment and timing of these programs to determine the most effective way to ensure pharmacist competency.