Background/Objectives: Nursing leadership is a multidimensional construct that includes relational, strategic, collaborative, and organisational capabilities. However, nursing-specific measures that integrate these domains remain limited. This study evaluated the preliminary psychometric properties of the Effective Nursing Leadership Scale (ENLS), examined its association with job satisfaction, and explored its seven dimensions as nursing leadership-related competency domains. Methods: A descriptive cross-sectional survey was conducted among 885 registered nurses in Albania. Reliability, factor-retention procedures, confirmatory model comparisons, discriminant validity, common-method sensitivity analyses, Pearson correlations, and multiple linear regression were examined. Results: Of 918 questionnaires administered, 885 complete questionnaires were analysed (response rate 96.4%). The 19-item ENLS showed very high internal consistency (Cronbach’s α = .967; McDonald’s ω = .969). Parallel analysis retained two factors rather than seven, so the seven-domain structure was treated as theory-driven and evaluated by CFA. Among the tested models, the seven-correlated-factor model showed the best fit (CFI = .960, TLI = .948, RMSEA = .075, SRMR = .076), outperforming the single-factor and second-order models. HTMT values ranged from .713 to .962, indicating incomplete discriminant validity among several domains. The ENLS total score correlated modestly with job satisfaction (r = .220, p < .001). In simultaneous regression, Communication Competencies was the only clear independent positive predictor (β = .421, p < .001); the model explained 12.2% of job-satisfaction variance (R² = .122). Conclusions: The ENLS demonstrates strong reliability and a plausible multidimensional structure, but the present data do not provide definitive support for seven empirically distinct dimensions. Independent replication, refinement of closely overlapping domains, cross-cultural validation, and multi-source designs are required before high-stakes or benchmarking use.