Senior Manager: F & I

Requirements: 

• National travel is required for this role quarterly and when required and ad hoc travel to regional countries. Overtime will be required during busy periods
• Regulatory exam (RE1) for key individuals
• F and I qualification – appropriate NQF 4 qualification (retail insurance qualification (RIQ)
• Regulatory exam (RE5) for representatives
• NCA accreditation
• Driver’s license
• Highly developed F & I product knowledge
• Understanding of industry commission norms
• Stay abreast of FAIS and FICA legislation 

Responsibilities: 

• Strategic/Financial
• Develop products (e.g. warranties, credit insurances, minor accident warranty etc.) and ensure accreditation with relevant insurance underwriters - ongoing and at least annually
• Assess all products annually to ensure they stay ahead of the industry with superior, value-add of product range
• Ensure correct usage of F& I system by reconciling the systems data capture to Evolve
• Discuss and set monthly targets for improving sales/APU''s with the senior Car Sales team for cascading to branch level
• Provide information and advice to Financial Manager (Car Sales) for compilation of annual budgets
• Advise branches and F&I''s on industry trends in terms of product sales, hit rates, etc. when developments become known
• Develop, update and implement the commission structure annually with new targets and rules and manage monthly through the FM/financial administrators
• Consolidate F & I inputs into national budget 2. Operational
• Monitor and enforce FAIS compliance at retail branches to ensure adherence to the FAIS sales process
• Ensure that Fit and Proper status (qualifications, experience, CPD and compliance) is maintained via bi-monthly monitoring and rectifying external FAIS Audit outcomes for every F&I
• Provide advice to F&Is on FAIS and FICA related queries as requested
• Monitor and enforce FICA compliance at retail branches by checking usage of Verified system regularly and addressing non-compliance
• Ensure all F&I''s (permanent/temporary) interacting with banks have proof of NCA accreditation in place on initial employment
• Determine and implement training interventions for F&I''s and Sales People on Products, Policies and Soft Skills
• Monitor and control non-approved products by conducting monthly spot checks for payments to non-approved suppliers in order to eliminate the sale of non-approved products
• Measure and monitor F&I sales performance (APU contributions, products sales hit rates, etc.) with regards to DIC, Insurance Products and non-Insurance Products by benchmarking and comparing various branch performances on monthly, bi-monthly, quarterly basis as needed, with Regional Managers, Branch Managers and F&I''s.
• Assist with commission structure queries
• Monitor and action approved deals not taken up with dealership and declined deals and provide insights to branches and regions to ensure sales volume drive is supported on weekly basis
• Monitor and follow up on unsighted deals on daily basis and provide recommendations on findings and share best-practice with the regions and branches
• Act as the product champion; overseeing pricing, wording, implementation, monitoring, liaising with the service providers on monthly basis
• Promote, manage and provide guidance and input into the development of fusion / electronic systems
• Oversee the training and coaching of all Car Sales staff on the F & I portfolio