Finance and Insurance Manager
Job Title: Finance & Insurance (F&I) Manager
Reports to: Sales Managers and ultimately, General Manager
Position Description: The F&I Manager is responsible for professionally representing and protecting the Dealership while producing additional revenue for the Company by presenting products to new and used vehicle customers. Must comply with all State and Federal laws as well as Company information security program. Must present a professional appearance.
Duties & Responsibilities:
- Establish and maintain positive working relationships with all sources of finance and insurance products, factory and otherwise.
- Submit proper documentation to obtain approval for all possible finance transactions.
- To follow up with outstanding vehicle AR including funding of contracts until vehicle purchases is paid in full
- Work with sales management to establish and maintain a program that will ensure a 100-percent turnover to the Finance & Insurance department.
- Work with Sales Managers to secure a reasonable profit from each transaction.
- Establish forecast for finance department in conjunction with sales department to achieve a desired percent of penetration and income.
- Verify the accuracy of all title, lien information, taxes, and other documents on customer paperwork.
- Follow up on title collections on trade-ins as appropriate
- Ensure accuracy of customer information in dealership databases (including e-mail addresses).
- Forward completed deals to office in a timely and accurate manner.
- Keep sales management up to date with regard to rates and products.
- Complete all training certifications as directed by management.
- Follow policies and procedures as set forth in the Personnel Policy Manual and other corporate policies.
- Update internal reports as designated by management (Axcessa and eVgl)
- Any other duties as assigned.
Knowledge, Skills and Abilities Required:
Educational: High school diploma or the equivalent.
Experience: Minimum two years in automotive sales experience.
Special Skills (i.e., licenses, certifications): Excellent oral and written communication skills. Ability to read and comprehend instructions and information. Ability to use personal computer applications including word processing and spreadsheet software. Current valid driver’s license and state sales license.
THE ABOVE DECLARATIONS ARE NOT INTENDED TO BE AN “ALL-INCLUSIVE” LIST OF THE DUTIES AND RESPONSIBILITIES OF THE JOB DESCRIBED OR OF THE SKILLS AND ABILITIES REQUIRED TO PERFORM THE JOB. RATHER, THEY ARE INTENDED ONLY TO DESCRIBE THE GENERAL REQUIREMENTS OF THE JOB.