Finance Manager

Job Description

Finance & Insurance (F&I) Producers

O'Daniel Honda Mission Statement

To be a dealership whose employees work together to genuinely earn the trust and loyalty of its customers and the community by focusing on excellence in customer service, convenience and value.

Summary

The Finance & Insurance (F&I) Manager sells new and used car buyers financing and insurance products. F&I managers also work with financial lenders to give fair interest rates to buyers and programs. As with all positions within our dealerships, F&I managers are expected to uphold the highest ethical standards.

Finance Producers are expected to:

• Offer vehicle financing and insurance to customers and providing them with a thorough explanation of aftermarket products and extended warranties and a complete explanation of manufacturer and dealership service procedures and policies.

• Seek new lending institutions and maintaining good working relationships to secure competitive interest rates and financing programs.

• Process financing and leasing deals accurately and securing approval through financial sources to secure approval and through the proper federal, state and corporate channels.

• Understand and complying with federal, state and local regulations that affect the new and used-vehicle and finance departments.

• Create and maintain a program with the sales department that will ensure all new sales are referred to the F&I department.

• Train and provide the sales team with information on finance and lease programs and the benefits of the dealership’s financing and extended service programs.

• TO and talk to customers to help close deals

• Establish measurable performance goals using gross and net profits, product sales, etc. for monthly, quarterly and annual targets.

• Meet or exceed established measurable performance goals

• Meet or exceed manufacture set Customer Satisfaction rating expectations

• Evaluate each team member’s performance and productivity as it relates to the Finance Department

• Market and prospect for outside sales opportunities for finance products

• Coordinate activities between Finance and other departments

• Fill in as needed for Sales Manager Duties    

• Ensure the dealership is stocked with the necessary documents to complete contracts

Job Requirements

It is recommended that the finance and insurance manager is has two years of automotive sales experience and one year in a dealership management position.

Managerial positions are required to maintain the profitability of their department while controlling expenses and maintaining customer satisfaction.

Managers are required to understand and keep abreast of the federal, state, and local regulations that affect their operations.

F & I personnel require strong communication skills in order to work with customers, employees and finance and insurance vendors as they represent the dealership.

Education Requirements

A college degree or equivalent experience in finance is preferred. A strong background in business, mathematics, marketing and computers is also useful.

Benefits: Health insurance, 401k plan, and vacation pay.