Finance and Insurance Manager
About The Position
The Finance and Insurance (F&I) Manager helps customers secure financing, finalize sales contracts, and consider additional products such as extended warranties, GAP insurance, and maintenance plans. The role is also responsible for following up on and collecting receivables. The F&I Manager works with finance sources and dealership sales management to support finance transactions, establish sales turnover and forecasting processes, achieve transaction profitability and department targets, and ensure customer paperwork and dealership records are accurate. The manager forwards completed deals to accounting, prepares monthly reports, keeps sales management informed about rates and products, completes assigned training, and complies with company policies, procedures, and safety standards. Other duties may be assigned.
Requirements
- Excellent communication and customer service skills.
- Professional, well-groomed personal appearance.
- Self-motivated, with the ability to set and achieve targeted goals.
- Knowledge of regulatory and compliance requirements.
- Ability to work in a fast-paced environment.
- Clean driving record and valid driver’s license.
- At least 18 years of age to apply.
Nice To Haves
- Prior automotive experience preferred.
Responsibilities
- Establish and maintain positive working relationships with sources of finance and insurance products, including factory sources.
- Submit proper documentation to obtain approval for possible finance transactions.
- Work with sales management to establish and maintain a program ensuring 100% turnover to the Finance and Insurance department.
- Work with sales managers to secure a reasonable profit from each transaction.
- Establish finance department forecasts with the sales department to achieve desired penetration and income.
- Verify the accuracy of title and lien information, taxes, and other customer paperwork.
- Ensure customer information in dealership databases, including email addresses, is accurate.
- Forward completed deals to the accounting office in a timely manner.
- Acquire licenses for selling insurance, if applicable.
- Prepare monthly reports on finance penetration and products sold.
- Keep sales management up to date regarding rates and products.
- Complete training certifications as directed by management.
- Comply with company policies, procedures, and safety standards.
- Follow up on and collect receivables.
- Perform other duties as assigned.
Benefits
- Competitive pay
- Medical, dental, and vision plans
- Paid holidays and PTO
- Short- and long-term disability
- Paid life insurance
- 401(k) retirement plan
- Vehicle purchase discounts
- Employee discounts on parts and service repairs
- Employee referral program with bonus opportunities
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What This Job Offers
Job Type
Full-time
Education Level
No Education Listed
