What are the responsibilities and job description for the Finance Specialist position at Reineke Family Dealerships Inc?
Summary:
The Finance and Insurance (F&I) Specialist will be responsible for facilitating the sale of vehicles, completing transaction paperwork, running credit applications and pulling credit scores, presenting paperwork to customers, and producing additional revenue for the Dealership through the sale of F&I products and services using a compliant process.
Reports To: General Manager or General Sales Manager
Job Duties:
- Offer vehicle financing, service contracts, GAP, and other supplementary F&I products and services to dealership customers.
- Provide customers with a thorough explanation of supplementary products and warranties, as well as a complete explanation of manufacturer and dealership procedures and policies.
- Present all products available for sale to all customers in a professional manner that fully complies with applicable laws and regulations, as well as the dealership’s policies and procedures.
- Work with Sales Managers and Sales Consultants in securing profit from every sale/lease.
- Maintain a daily operational control log and provide F&I results to F&I Manager/Finance Director.
- Complete and distribute monthly penetration reports on F&I sales.
- Check all paperwork to ensure correct title and lien information, taxes, etc. and for proper completion.
- Responsible for all financing and leasing rate quotes and terms.
- Remit rebate forms and vouchers for deal funding.
- Process finance and lease transactions and secure approval through financial sources.
- Maintain a reputable, trustworthy, honest, good relationship with local banks*
- Understand and comply with federal, state, and local laws and regulations that affect the sale of new and used vehicles and the F&I department.
- As requested by a supervisor, track and assist with the collection of amounts due from customers and with credit stipulations, spot delivered vehicles, funding, past due notes, bad checks, title/paperwork, and other items.
- Responsible for appropriate cash reporting and handling including properly completing 8300 and notifying correct department head.
- Keep up to date with new laws and regulations and annual compliance requirements.
- Other duties assigned by management.
Exemption Status:
F&I Specialist is a non-exempt position. You are required by Federal and State Law and by
Reineke Family Dealerships to keep an accurate record of all hours you work each day. Failure
to comply with this requirement can result in disciplinary action up to and including termination.
The dealership is an “at-will” employer, meaning that your employment has no specific term,
and that the employment relationship may be terminated at any time at the will of either party on
notice to the other. Nothing contained in your commission (compensation/pay) plan should be
understood to alter the nature of the at-will employment relationship or create a contract of
employment for a specific term.
- High school diploma or equivalent
- Dealership experience: 1 year (preferred)
- Sales experience: 1 year(s)
- 2 years in customer service or a related field