What are the responsibilities and job description for the Finance Director position at Potamkin Payroll?
As the Finance Director at our dealership, you will be responsible for overseeing all aspects of the dealership's finance and insurance (F&I) department. You will lead a team of finance managers to maximize revenue and profitability while ensuring compliance with regulatory requirements and maintaining high levels of customer satisfaction. Your strategic leadership and financial expertise will be instrumental in driving the success of our dealership's finance operations.
Responsibilities:
Leadership and Team Management:
- Recruit, train, and develop a high-performing team of finance managers and support staff.
- Set performance goals and objectives for the finance department and monitor progress towards achieving them.
- Provide ongoing coaching and support to finance managers to help them succeed in their roles.
- Foster a positive and collaborative work environment that encourages teamwork, professionalism, and excellence in customer service.
Finance and Insurance Sales:
- Oversee the dealership's finance and insurance operations, including vehicle financing, leasing, extended warranties, and other F&I products.
- Develop and implement strategies to maximize revenue and profitability from F&I sales while maintaining ethical and compliant practices.
- Review and approve finance deals, ensuring accuracy and compliance with lender guidelines and dealership policies.
- Monitor industry trends and regulatory changes to identify opportunities for revenue growth and process improvements.
Customer Relations:
- Build and maintain strong relationships with customers, lenders, and insurance providers to enhance the dealership's reputation and customer satisfaction.
- Address customer inquiries, concerns, and complaints related to financing and insurance, resolving issues promptly and professionally.
- Ensure that customers receive transparent and accurate information about F&I products and services, helping them make informed decisions.
Compliance and Risk Management:
- Ensure compliance with all relevant laws, regulations, and industry standards governing F&I operations, including Truth in Lending Act (TILA), Regulation Z, and Fair Credit Reporting Act (FCRA).
- Implement and enforce dealership policies and procedures related to finance and insurance sales, ensuring consistency and integrity in all transactions.
- Conduct regular audits and reviews of F&I processes and documentation to identify and mitigate compliance risks.
Financial Analysis and Reporting:
- Analyze F&I performance metrics and financial data to assess departmental performance and identify areas for improvement.
- Prepare regular reports and presentations for dealership management, providing insights and recommendations for optimizing F&I operations.
- Work closely with the dealership's accounting and finance team to reconcile F&I transactions, ensure accurate financial reporting, and support budgeting and forecasting activities.
- Join our team and lead our dealership's finance department to new levels of success and excellence!