Automotive Finance Manager

Automotive finance managers, often referred to as finance and insurance administrators, work in dealerships for automobiles, helping to determine the most suitable financing option for their customers. They should be aware of their company's best practices and offerings and be aware of the financing and credit procedures as well as title laws and registration procedures. Managers must make sure that the deals they sign are in compliance with state, local and federal laws. Other duties performed by automotive finance managers could include negotiating with customers, helping the department manager in the necessary tasks and submitting financial agreements to banks, and carrying out other duties related to the process of loan.

In general, finance managers in the automotive industry are employed full-time in the car dealership or in another sales-related setting. They usually work during the hours that their company operates however, they might need to work additional or alternative hours based on their business's requirements. The job usually has no physical requirements and is performed mostly in offices.

Finance managers for automotive finance should have prior experience working in an auto dealership in the finance department. They should be adept with basic computer programs, possess outstanding communication skills and possess strong interpersonal skills to effectively work with customers and colleagues.

As an Automotive Finance Manager with 6-9 years of experience in the United States, your main responsibilities include:

• Managing financial transactions and coordinating with lenders, ensuring timely and accurate completion of loan applications.
• Developing and implementing financing strategies to maximize profitability and meet sales targets for automotive sales and leasing.
• Analyzing credit applications, assessing risk factors, and determining appropriate financing options for customers.
• Supervising financial staff, providing training and guidance, and ensuring compliance with industry regulations and internal policies.

For an Automotive Finance Manager job role, the following qualifications are required:

• In-depth knowledge of automotive finance and leasing processes to effectively manage financing operations, including loan origination, credit analysis, and contract negotiation.
• Strong financial analysis skills to evaluate the profitability and risk of potential automotive finance deals, and to identify opportunities for cost reduction and revenue growth.
• Excellent communication and negotiation abilities to interact with customers, dealerships, and financial institutions, ensuring smooth and efficient financing transactions.
• Leadership and team management skills to oversee a team of finance professionals, providing guidance, training, and support for achieving departmental targets and objectives.

The role of an Automotive Finance Manager is vital in ensuring efficient financial operations in the automotive industry. For professionals with 6-9 years of experience in the United States, here are following alternative roles to consider:

• Senior Accountant: This role involves more extensive responsibilities, such as financial reporting and regulatory compliance.
• Treasury Manager: Focusing on cash and liquidity management, this position handles forecasting, risk management, and investment activities.
• Procurement Manager: This role entails managing supplier relationships, negotiating contracts, and overseeing purchasing processes.
• Financial Analyst: Responsible for monitoring financial performance, developing forecasts, and providing insights to support strategic decision-making.

The role of Automotive Finance Manager is projected to experience steady growth in the United States market. Over the last 10 years, the job role has seen an increasing demand, signifying a positive trend in the industry. With the continuous development of the automotive sector, this position is expected to offer a substantial number of employment opportunities in the future. Google data points indicate that the Automotive Finance Manager position is likely to see a promising job market with a consistent need for professionals in this field.