Finance and Insurance Business Manager

University of Fort Hare; Stellenbosch; On-site; ZAR 300 000 - 400 000; Full time

Job summary

A well-established luxury dealership in Stellenbosch seeks a Financial and Insurance Business Manager with a minimum of 4 years of experience in a similar role. Key responsibilities include managing all financial and insurance operations, providing expert advice to customers, and ensuring compliance with the National Credit Act. Ideal candidates will possess a financial degree and strong skills in problem-solving and analysis. A competitive salary and incentives are offered.

Benefits

Competitive salary

Incentives

Qualifications

• Sound knowledge of the National Credit Act (NCA).
• Class of Business (COB).
• Up to date CPD points.
• Banking or previous F&I experience.

Responsibilities

• Manage all administrative and contractual aspects for the company.
• Provide professional F&I expertise to customers.
• Identify individual customer financial and insurance needs.
• Ensure dealership compliance with NCA, FAIS and FICA acts.

Skills

Problem solving

Analysing

Coping with Pressures and Setbacks

Persuading and Influencing

Planning and Organising

Education

Grade 12

Financial degree or studying toward one

RE5 Regulatory Examination

Tools

CDK Sale invoice

Salesforce

Signio platform

MS Word

Excel

Outlook

Job description

Overview

A Well-established Luxury Dealership, in Stellenbosch is seeking to employ a Financial and Insurance Business Manager (F & I) with at least 4 years working experience in a similar role to join their team.

Responsibilities

• Manage all administrative and contractual aspects for the company and other financial institutions
• Provide professional F&I expertise to existing, new and prospective Customers
• Keep up to date with all relevant finance and insurance products
• Identify individual customer financial and insurance needs
• Offer specialised finance and insurance products to new customers at a profitable second gross profit rate
• Ensure accurate completion of the finance and insurance application form
• Give final release of each and every approved transaction (cash and financed)
• Ensure all conditions and requirements from either the bank or insurance company have been fulfilled
• Ensure that all deposits or cash have been paid
• Ensure that the release note has been issued for financed deals
• 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 in
• Participate in the F&I Retention program to maximise opportunities that arise from End of Term or Early Settlements
• 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 does so in accordance with the fit and proper requirements as set out in the acts
• Ensure that the dealership complies to all compliance arrangements, record keeping and auditing requirements as prescribed in the acts
• 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

Qualifications

• Grade 12
• A financial degree or studying toward one
• RE5 Regulatory Examination
• Sound knowledge of the National Credit Act (NCA)
• Class of Business (COB)
• Up to date CPD points
• Banking or previous F&I experience
• Computer literate in MS Word, Excel and Outlook
• Problem solving
• CDK Sale invoice and Purchase ledger
• Experience in Beeswax and Salesforce will be advantageous

Context / Special Features / Challenges

• Keep abreast with relevant and current legislation
• Keep abreast with relevant finance and insurance products
• Keep record of all finance Natis documents and requests for dealer stock letters and trade in Natis
• Complete all aftermarket policy invoicing, including the cost of sale action thereof
• All warranties to be invoiced on DFS platform, whether cash or as part of a finance transaction
• Arrange quality checks on vehicles for pre-owned warranties being sold
• Ensure an aligned process with Sales and F&I
• The above description of responsibilities is not exhaustive, and it may be expected of the incumbent to perform any other additional tasks and responsibilities, reasonably requested and expected of them, whether contained in this role profile or not

Behavioural and Technical Competencies

• Analysing
• Coping with Pressures and Setbacks
• Deciding and Initiating Action
• Following Instructions and Procedures
• Persuading and Influencing
• Planning and Organising
• Signio platform
• Risk Analysis
• CDK invoicing
• Financial Acumen
• DFS Warranty invoicing Knowledge of the (NCA) – National Credit Act
• Knowledge of the (COB) – Class of Business
• Knowledge of the (FAIS) – Financial Advisory and Intermediate Service Act 37 of 2002
• Knowledge of the requirements of (FIC) – Financial Intelligence Centre Act
• Knowledge and supplier certificates in place- of dealership value added products

In return a competitive salary and incentives are on offer