Automotive Finance and Insurance Manager

3 days ago

Reston, Virginia, United States Ted Britt Automotive Group Full time

About the Role

The Automotive Finance and Insurance Manager is a key member of our team, responsible for securing sales and ensuring every vehicle sold is delivered. This role requires strong communication skills, product knowledge, and empathy to build trust with customers.

Key Responsibilities

  1. Protect gross profit by arranging financing that doesn't impact selling margins.
  2. Establish lender relations to tie customers closer to the dealership.
  3. Generate additional income through credit insurance, vehicle service contracts, GAP coverage, and maintenance plans.
  4. Maintain control of all paperwork until it's ready for the general office.
  5. Process finance and lease deals accurately and fairly through financial sources.
  6. Conduct business in an ethical and professional manner.
  7. Process federal, state, and dealer paperwork related to vehicle transactions.
  8. Understand and comply with federal, state, and local regulations affecting new- and used-vehicle and finance departments.
  9. Complete paperwork for vehicle sales and leases efficiently.
  10. Check paperwork for correct title, lien information, taxes, etc., before forwarding to accounting.
  11. Acquire and maintain a current state insurance license, completing continuing credit insurance education as needed.
  12. Provide customers with complete explanations of manufacturer and dealership service procedures and policies.
  13. Manage the alternative finance source program to ensure multiple sources are available.
  14. Seek insurance companies for insurance paper.
  15. Maintain insurance files.
  16. Set up and maintain a program for 100% turnover to the F&I department.
  17. Provide sales force and sales managers with current information about finance and lease programs.
  18. Train sales staff on financing, insurance, and extended service programs.
  19. Work with sales managers to secure a reasonable profit from every sale.
  20. Coordinate finance forecasting with sales department forecasting.
  21. Ensure collection of all finance and insurance fees.
  22. Take all credit applications.
  23. Prepare reports on finance penetration.
  24. Attend managers' meetings.
  25. Handle all rate quotations.
  26. Develop and monitor guidelines for working with customers to ensure maximum customer satisfaction.
  27. Supervise and train a designated backup to ensure continued efficiency and profitability in the F&I manager's absence.
  28. Maintain an adequate and current supply of all required contracts and paperwork.
  29. Maintain a professional appearance.
  30. Maintain a clean and professional work environment.

Requirements

A successful F&I manager needs product knowledge, professionalism, and empathy. Communication is crucial in a business department, contributing to team-building with sales and the General Office.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

  • Bachelor's degree (B.A.) from a four-year college or university; or one to two years related experience and/or training; or an equivalent combination of education and experience.

Language Skills

  • Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
  • Ability to write reports, business correspondence, and procedure manuals.
  • Ability to effectively present information and respond to questions from groups of managers and customers.

Mathematical Skills

  • Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
  • Ability to compute rate, ratio, and percent.

Certificates, Licenses, Registrations

  • AFIP certification

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