Automotive Finance and Insurance Manager

1 day ago


Springfield, Illinois, United States Ted Britt Auto 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 Auto Group. As a key member of our sales team, you will be responsible for securing sales and ensuring that every vehicle sold is delivered.

Key Responsibilities
  • Protect gross profit by arranging financing and establishing lender relations that tie the customer closer to the dealership.
  • Generate additional income through the sales of credit insurance, vehicle service contracts, GAP coverage, and maintenance plans.
  • Maintain control of all paperwork until it is ready to be turned into the general office.
  • Process finance and lease deals accurately and fairly through financial sources to secure approval.
  • Conduct business in an ethical and professional manner.
  • Process all federal, state, and dealer paperwork related to vehicle transactions.
  • Understand and comply with federal, state, and local regulations that affect the new- and used-vehicle and finance departments.
  • Complete paperwork necessary for vehicle sales and leases in a timely and efficient manner.
  • Acquire and maintain current state insurance license, completing continuing credit insurance education as needed.
  • Provide customers with complete explanations of manufacturer and dealership service procedures and policies.
  • Manage the alternative finance source program to ensure that several sources are available.
  • Seek insurance companies for insurance paper.
  • Maintain insurance files.
  • Set up and maintain a program that will ensure 100% turnover to the F&I department.
  • Provide sales force and sales managers with current information about finance and lease programs continually.
  • Train the sales staff regarding the benefits of financing, insurance, and extended service programs.
  • Work with sales managers to secure a reasonable profit from every sale.
  • Coordinate finance forecasting with sales department forecasting to achieve desired levels of penetration and income.
  • Ensure collection of all finance and insurance fees.
  • Take all credit applications.
  • Prepare reports on finance penetration.
  • Attend managers' meetings.
  • Handle all rate quotations.
  • Develop and monitor guidelines for working with customers to ensure maximum customer satisfaction.
  • Supervise and train designated backup to ensure continued efficiency and profitability in the F&I manager's absence.
Requirements

A successful F&I manager needs the product knowledge, professionalism, and empathy that customers look for today. Communication is extremely important in a business department as it contributes 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 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.

Certificates, Licenses, Registrations

AFIP certification



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