F&I Director
Penske Automotive, West Palm Beach, FL, United States
Summary/Objective
The F&I Director produces additional revenue for the dealership by selling finance and insurance programs and other appropriate after-sale items to new and used vehicle customers.
Essential Functions
Sells financing and credit life, accident, and health insurance to customer
Oversees dealership customer loan origination and approval process while maintaining strong relationships with prime and subprime lenders
Prepares all federal, state, and dealer paperwork and submits to the accounting department in a timely manner
Leads Finance Managers within the department, and fosters relationships throughout the dealership
Establishes monthly forecasted income, penetration levels, and customer satisfaction index (CSI) scores
Generates monthly, quarterly, and year end reports
Presents service contracts, GAP, and other beneficial ancillary products
Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction
Converts cash deals to finance deals where appropriate
Establishes and maintains good working relationships with multiple finance sources, including the manufacturer
Processes finance and lease deals accurately, fairly and in accordance with local, state, and federal statutes and company policies
Conducts business in an ethical and professional manner
Understands and complies with all federal, state, and local regulations affecting the new and used vehicle and finance departments
Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner
Checks all paperwork for, but not limited to correct title, lien information, taxes, and consumer information before forwarding to accounting
Acquires and maintains current state insurance license, completing continuing credit insurance education
Seeks new lending institutions to secure competitive interest rates and finance programs continually
Manages the alternative finance source program to ensure that several sources are available
Seeks insurance companies for insurance paper
Maintains insurance files
Sets up and maintains a program ensuring 100 percent turnover to the F&I department.
Provides sales staff and Sales Managers with current information about finance and lease programs continually
Trains the sales staff regarding the benefits of financing, insurance, and extended service programs
Works with Sales Managers to secure a reasonable profit from every sale
Coordinates finance forecasting with sales department to achieve desired levels of penetration and income
Ensures collection of all finance and insurance fees
Prepares reports on finance penetration
Works closely with General Sales Manager to establish sales department goals and objectives
Processes Sales Consultants "end of month" commission sheets for accounting office payroll
Supervises and trains designated backup to ensure efficiency and profitability in the F&I manager's absence
Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals
Ensures that the work areas and customer waiting area are kept clean
Follows all attendance and punctuality standards with adherences to timekeeping standards
Follows the Company Code of Business Ethics and Conduct
Understands and follows all work rules and procedures and follows lawful directions from supervisors
Upholds the company's non-disclosure and confidentiality policies and agreements
Maintains a professional appearance for self and subordinates in accordance with company policy
Attends pertinent training on requestAttends company meetings as required
Other duties as assigned
EEO Statement The Company is committed to hiring a diverse and qualified workforce. We will not consider any characteristic or category protected by state or federal law in hiring or employment decisions, including but not limited to race, national origin, color, religion, sex, sexual orientation, gender identity, disability, age, status as a parent, or genetic information.
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Essential Functions
Sells financing and credit life, accident, and health insurance to customer
Oversees dealership customer loan origination and approval process while maintaining strong relationships with prime and subprime lenders
Prepares all federal, state, and dealer paperwork and submits to the accounting department in a timely manner
Leads Finance Managers within the department, and fosters relationships throughout the dealership
Establishes monthly forecasted income, penetration levels, and customer satisfaction index (CSI) scores
Generates monthly, quarterly, and year end reports
Presents service contracts, GAP, and other beneficial ancillary products
Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction
Converts cash deals to finance deals where appropriate
Establishes and maintains good working relationships with multiple finance sources, including the manufacturer
Processes finance and lease deals accurately, fairly and in accordance with local, state, and federal statutes and company policies
Conducts business in an ethical and professional manner
Understands and complies with all federal, state, and local regulations affecting the new and used vehicle and finance departments
Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner
Checks all paperwork for, but not limited to correct title, lien information, taxes, and consumer information before forwarding to accounting
Acquires and maintains current state insurance license, completing continuing credit insurance education
Seeks new lending institutions to secure competitive interest rates and finance programs continually
Manages the alternative finance source program to ensure that several sources are available
Seeks insurance companies for insurance paper
Maintains insurance files
Sets up and maintains a program ensuring 100 percent turnover to the F&I department.
Provides sales staff and Sales Managers with current information about finance and lease programs continually
Trains the sales staff regarding the benefits of financing, insurance, and extended service programs
Works with Sales Managers to secure a reasonable profit from every sale
Coordinates finance forecasting with sales department to achieve desired levels of penetration and income
Ensures collection of all finance and insurance fees
Prepares reports on finance penetration
Works closely with General Sales Manager to establish sales department goals and objectives
Processes Sales Consultants "end of month" commission sheets for accounting office payroll
Supervises and trains designated backup to ensure efficiency and profitability in the F&I manager's absence
Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals
Ensures that the work areas and customer waiting area are kept clean
Follows all attendance and punctuality standards with adherences to timekeeping standards
Follows the Company Code of Business Ethics and Conduct
Understands and follows all work rules and procedures and follows lawful directions from supervisors
Upholds the company's non-disclosure and confidentiality policies and agreements
Maintains a professional appearance for self and subordinates in accordance with company policy
Attends pertinent training on requestAttends company meetings as required
Other duties as assigned
EEO Statement The Company is committed to hiring a diverse and qualified workforce. We will not consider any characteristic or category protected by state or federal law in hiring or employment decisions, including but not limited to race, national origin, color, religion, sex, sexual orientation, gender identity, disability, age, status as a parent, or genetic information.
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