Finance and Insurance Manager

Job description

Key Performance area

Sell approved finance and insurance products:
• Keep up to date with all relevant finance and insurance products.
• Identify individual customer financial and insurance needs.
• Offer specialized finance and insurance products to new customers at a profitable second gross profit rate.
• Ensure accurate completion of finance and insurance application form.

Ensure final check and dealer internal delivery requirements have been adhered to:
• Give final release of each and every approved transaction (cash and financed).
• Ensure all conditions and requirements from either bank or insurance company has been fulfilled
• Ensure that all deposits or cash has been paid.
• Ensure that release note has been issued for financed deals.

Manage the relationship between the customer and the bank / insurance provider:
• Establish and maintain good professional and effective relationships with banks, insurance and other providers.
• Consult and advise customers on Finance & Insurance products available.
• Accurately and thoroughly complete and forward all applications to banks and insurance providers.
• Review all collected Natis documents for trade inns.
• Participate in the F&I Retention program to maximize opportunities that arise from End of Term or Early Settlements.

Comply to statutory requirements:
• Ensure that the dealership complies with all requirements as set out by the NCA, FAIS and FICA acts.
• To ensure that any person acting on behalf of the dealership or a representative of any other provider do so in accordance to the fit and proper requirements as set out in the acts.
• Ensure that the dealership comply to all compliance arrangements, record keeping and auditing requirements as prescribed in the acts.

Monitor finance and insurance product sales progress:
• Update daily progress report of Second Gross Sales on DOC (Daily Operating Control).
• Review basic monthly statistics of market penetration at banks and insurance providers.

Administration of finance and insurance data:
• Compile and submit files with required documentation to financial institutions.
• Ensure that all transactions are followed up and paid out as soon as possible after delivery.

Requirements :
• Motor industry experience.
• Knowledge of the (NCA) – National Credit Act .
• Knowledge of the (CRA) - Credit Regulator Act.
• Knowledge of the (FAIS) – Financial Advisory and Intermediate Service Act.
• Knowledge of the requirements of (FICA) – Financial Intelligence Centre Act.
• Senior Certificate (Grade 12).
• Computer literacy (Office suite).

Technical (systems) knowledge required:
• Finance diploma.
• Credit Management Diploma .
• Motor Dealership Industry or Banking environment working experience.
• Finance and Insurance / Sales.