Automotive Finance and Insurance Manager

2 months ago

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

We are seeking a highly skilled and experienced Automotive Finance and Insurance Manager to join our team at Ted Britt Automotive Group. As a key member of our sales team, you will be responsible for securing sales and ensuring that every vehicle sold is delivered to our customers.

Key Responsibilities
  • Protecting Gross Profit: Arrange financing to protect our selling margins and ensure that outside sources do not impact our revenue.
  • Establishing Lender Relations: Develop and maintain strong relationships with lenders to tie our customers closer to our dealership.
  • Generating Additional Income: Sell credit insurance, vehicle service contracts, GAP coverage, and maintenance plans to increase revenue.
  • Maintaining Control of Paperwork: Ensure that all paperwork is completed accurately and efficiently, and that all necessary documents are signed and secured.
  • Responsible for All Paperwork: Obtain customer signatures, secure payoff and insurance information, and process finance and lease deals accurately and fairly.
  • Converting Cash Deals to Finance: Convert cash deals to finance to increase revenue and protect our selling margins.
  • Establishing and Maintaining Good Working Relationships: Develop and maintain good working relationships with several finance sources, including the manufacturer.
  • Processing Finance and Lease Deals: Process finance and lease deals accurately and fairly through financial sources to secure approval.
  • Conducting Business in an Ethical and Professional Manner: Conduct business in an ethical and professional manner, and ensure that all transactions are completed in accordance with federal, state, and local regulations.
  • Processing Federal, State, and Dealer Paperwork: Process all federal, state, and dealer paperwork related to vehicle transactions accurately and efficiently.
  • Understanding and Complying with Regulations: Understand and comply with federal, state, and local regulations that affect the new- and used-vehicle and finance departments.
  • Completing Paperwork in a Timely and Efficient Manner: Complete all paperwork necessary for vehicle sales and leases in a timely and efficient manner.
  • Checking Paperwork for Accuracy: Check all paperwork for correct title, lien information, taxes, etc., before forwarding to accounting.
  • Acquiring and Maintaining Current State Insurance License: Acquire and maintain a current state insurance license, and complete continuing credit insurance education as needed.
  • Providing Customers with Complete Explanation: Provide customers with a complete explanation of manufacturer and dealership service procedures and policies.
  • Managing the Alternative Finance Source Program: Manage the alternative finance source program to ensure that several sources are available.
  • Seeking Insurance Companies: Seek insurance companies for insurance paper.
  • Maintaining Insurance Files: Maintain insurance files accurately and efficiently.
  • Setting Up and Maintaining a Program: Set up and maintain a program to ensure 100% turnover to the F&I department.
  • Providing Sales Force and Sales Managers with Current Information: Provide sales force and sales managers with current information about finance and lease programs continually.
  • Training the Sales Staff: Train the sales staff regarding the benefits of financing, insurance, and extended service programs.
  • Working with Sales Managers: Work with sales managers to secure a reasonable profit from every sale.
  • Coordinating Finance Forecasting: Coordinate finance forecasting with sales department forecasting to achieve desired levels of penetration and income.
  • Ensuring Collection of Finance and Insurance Fees: Ensure the collection of all finance and insurance fees.
  • Taking Credit Applications: Take all credit applications accurately and efficiently.
  • Preparing Reports on Finance Penetration: Prepare reports on finance penetration accurately and efficiently.
  • Attending Managers Meetings: Attend managers meetings to stay informed and provide updates.
  • Handling Rate Quotations: Handle all rate quotations accurately and efficiently.
  • Developing and Monitoring Guidelines: Develop and monitor guidelines for working with customers to ensure maximum customer satisfaction.
  • Supervising and Training a Designated Backup: Supervise and train a designated backup to ensure continued efficiency and profitability in the F&I manager's absence.
  • Maintaining an Adequate Supply of Contracts and Paperwork: Maintain an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals.
  • Maintaining a Professional Appearance: Maintain a professional appearance and work environment.
Requirements

A successful F&I manager needs to possess the following skills and qualifications:

  • 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 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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