F&I Manager

POSITION DESCRIPTION

Position Overview:

The F&I Manager plays a pivotal role in the seamless operation of a retail facility, serving as a liaison between sales, accounting, and customers. This position involves a multifaceted approach, combining financial expertise, customer service, and managerial skills to ensure the success of the financial services department.

KEY RESPONSIBILITIES

• Collaboration and Coordination:

• Work closely with the sales and accounting teams, demonstrating proficiency in both departments.
• Stay informed about financial services offerings and alternatives to effectively guide customers.

• Customer Financing and Purchases:

• Assist customers in arranging financing and finalize purchases.
• Present extended service contracts and other owner protection programs during the completion of the sales contract.

• Credit Application Review:

• Review customers' credit applications for completeness and accuracy.
• Match customers to suitable financial sources and follow up with both customers and lending institutions.

• Legal Compliance:

• Ensure comprehensive knowledge and enforcement of legal ramifications affecting the financial services department.

• Collaborative Planning:

• Work with other managers to plan, forecast trends, and review/revise plans for the retail facility regularly.

• Relationship Building:

• Establish and maintain strong relationships with lenders and financial institutions.

• Understand and navigate lending procedures to facilitate smoother transactions.

• Sales Monitoring and Incentive Programs:

• Maintain a log of all sales, including the proportion involving financial services products.
• Develop incentive programs for the sales team to promote financial services products.

• Team Leadership and Training:

• Lead and train team members, ensuring adherence to company policies and staying up-to-date with industry developments.

Qualifications:

Education: Bachelor's degree in Business, Finance, or related field (preferred).

Experience: Proven experience in financial services, accounting, and sales within the automotive industry.

Skills:

• Knowledge of applicable local, state, and federal regulations and laws in the automotive industry.
• Ability to establish rapport, collect customer information, and ensure customer enthusiasm.
• Quick and accurate review of sales contracts.
• Effective collaboration with lenders and financial institutions.
• Strong management skills, including organizing, planning, interpersonal sensitivity, and analysis.
• Thorough knowledge of bank and insurance terminology and processes.
• Proficiency in computer systems, including spreadsheets.
• Keyboarding skills (30-40 words per minute).
• Proficient use of calculator, adding machine, and other office machines.
• Full mathematical skills, including the ability to calculate compound interest.

Working Environment:

• Much customer contact.
• Work with high-dollar amounts.
• Much analytical work.
• Much paperwork.
• Work with various types of computer equipment.
• Much contact with people in all retail departments.
• Long hours.

This job description in no way states or implies that these are the only duties to be performed by the employee incumbent in the position. Employees will be required to follow any other legal or ethical job-related duties requested by any person authorized to give instructions or assignments. A review of this position has excluded the marginal functions of the position that are incidental to the performance of fundamental job duties. This document does not create an employment contract, implied or otherwise. JC Lewis Motor Company has an "at will" relationship with employees.