Hi John. Nicely painted figure.
You ask if you are right to interpret the oak leaf pattern in this way. While this is good for a first stab, unfortunately the figure is wearing the M1944 camo suit (similar to the service dress in cut, rather than the fuller loose smock). This was only produced in what is now referred to as the "pea pattern", which consists of small dots of colour & patches in light brown & dark brown, dark & light green in a random pattern. Some suits look almost pink in places. This was issued with matching trousers, & usually worn with gaiters, although there are numerous photos of it worn with marching boots. It was not unknown for sleeve eagles to appear on this order of dress, although against regulations. Rottenfuhrer & Sturmann stripes have also been seen in wear, despite compromising concealment. This suit was intended to replace both the smock, & the reed green denim working dress. It never fully replaced the smock, as it did not have the smocks showerproofing (the smock was made of close-woven cotton "duck"), so it is not uncommon to see mix-&-match of the two, even in small units. I have seen pictures taken in Normandy of the suit being worn UNDER the smock - really gilding the lily!
As regards the smock, no insignia was worn originally, this was because the collar of the tunic was intended to be worn over it, showing the collar patches. However when the low visibility system was introduced, these were normally sewn to the upper left arm, coincidentally, many SS men had by now removed their collar patches for security or concealment reasons anyway. This system was printed in green on a black background. For the SS, the ORs wore 1-5 green bars from Unterscharfuhrer to Stabsscharfuhrer. Officers from Untersturmfuhrer to Hauptsturmfuhrer wore an oak leaf & 1-3 bars. Field officers wore 2 oak leaves etc. These rank badges were also worn on the 1944 camo suit of course.
The smocks were printed in several patterns, "pea" was NOT one of them, but they are commonly seen in oak patterns, either browns (fall/autumn) or greens (summer/spring). Smocks seen in Normandy tend to be late pattern, with loops sewn to upper arms & chest for foliage. The smock had a an opening in front which laced up & early ones had holes so that the wearer could reach his jacket pockets or ammo pouches (the smock was originally intended to be worn OVER the equipment, but this was almost never done).
Incidentally, the collar patches were not edged for ORs by 1944.
Originally the SS-VT had worn a black & white twisted edging, but this fell out of use in 1940, your man would have to be a pre-war veteran to still have it, & he probably wouldn't wear it on the 1944 suit jacket anyway.