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Director Financial Services
Penske Automotive Group
San Diego, CA, United States
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Job Overview
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, 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 force 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
• Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction
• Processes salespersons' "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 request
• Attends company meetings as required
• Other duties as assigned
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice
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.
Requirements
Competencies
• Ability to sell products and services in a professional and ethical manner
• Ability to understand, keep abreast of, and comply with federal, state, and local regulations that affect the new- and used-vehicle and finance departments
• Ability to facilitate and/or conduct technical training to other employees
• Computer proficiency
• Exceptional communication skills both oral and written with the ability to effectively communicate via face-to-face, phone, or by other means of communication
• Ability to define problems, collect data, establish facts, and draw valid conclusions
• Ability to process data and organize it for management analysis
• Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals
• Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
• Ability to calculate figures and amounts such as discounts, interest, commissions
• Ability to understand and follow work rules and procedures
• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form
• Ability to apply common sense understanding to carry out detailed but uninvolved written or oral instructions
• Ability to work independently and to carry out assignments to completion within parameters of instructions given, prescribed routines, and standard accepted practices
• Ability to interact well with others and be a positive influence on morale of department, dealership and organization
Work Environment/Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Light Work- lifting no more than 20 pounds at a time and/or frequent lifting or carrying of objects weighing up to 10 pounds
This position requires a good deal of walking or standing, or this position could involves sitting most of the time with some pushing and pulling of arm or leg controls
This position requires the ability to climb, push, pull, stoop, kneel, reach, grasp
This position involves repetitive motion
This position requires the ability to talk and hear
This position is primarily located in an office environment, with heating and air conditioning
Position Type/Expected Hours of Work
Works evenings, weekends and holidays as required.
Required Education and Experience
Associate's degree (A.A.) or equivalent; and two to three year's related experience and/or training; or equivalent combination of education and experience.
Preferred Education and Experience
Bachelor's degree in Business, Account or Finance or equivalent; and three to five years related experience and/or training; or equivalent combination of education and experience
Additional Eligibility Qualifications (Certification/Licenses/Registrations)
AFIP Certification is preferred but not required
Position
F&I Director-712202