General Manager - Automotive Finance & Insurance
Job Purpose
To lead the Finance and Insurance (F&I) department and develop product offerings for Al Tayer Motors customers, designed to drive profitable growth. Manage relationships with F&I service providers while ensuring their compliance with agreed terms.
Strategic Roles and Responsibilities
- Develop the strategy/plan of Finance and Insurance and ensure alignment with Al Tayer Motors business plans
Review financial forecasts for performance management purposes and extract data from systems and transpose them into pre-defined formats in order to report to management
Ensure the implementation of and conformance to Finance and Insurance policies and procedures across department, and identify opportunities for continuous improvement
Review the budget requirements of Finance and Insurance, and accordingly participate in the development of Al Tayer Motors budget
Finance &Insurance Sales
- Facilitate close collaboration between the F&I and sales teams across the business to coordinate effective F&I coverage to support the business
Review and monitor the results from the sale of F&I products and suggest new products or changes to existing products based on market conditions and sales trends
Develop and manage appropriate pay plans for F&I in conjunction with sales to maximize volume and profitability
Monitor maintenance of controls over pricing of F&I products including authorization of discounts where required
Ensure availability and knowledge ability of F&I teams to respond to queries with respect to the F&I products
Finance &Insurance Development
- Develop compelling F&I product offerings based on market conditions and sales trends of Al Tayer Motors
Identify potential third parties to support Al Tayer Motors in providing specialized F&I services to customers, including financial services institutions and insurance providers while engaging with them for a long term relationship
Monitor F&I service providers to ensure their full compliance with agreed terms and to identify opportunities to further improve Al Tayer Motors offerings and services
Ensure marketing plans and campaigns for F&I products support the sales objectives effectively, by proper coordination with the Customer Experience and Marketing department
Customer Service
- Ensure customers’ needs are identified and fulfilled through accurate F&I product offerings
Monitor customer complaints while ensuring continuous, interactive and proactive coordination with the Customer Interaction Center
Monitor offers and discounts for F&I customers and liaise with Customer Experience and Marketing with regards to Al Tayer Motors' loyalty program in order to generate repeat customers
Ensure that customers are fully informed regarding terms and conditions of each contract
Risk Management Roles and Responsibilities
- Manage function’s risk by communicating and consulting with relevant internal and external stakeholders to identify risks and mitigate them as per pre-defined frameworks and procedures
Raise awareness across Al Tayer Motors’ leadership about the importance of risk management and attend actively risk management meetings across Al Tayer Motors and representing Al Tayer Motors at the group level
Performance Management
- Monitor performance of the F&I and identify areas of improvement and corrective actions
Contribute to the annual and quarterly objective setting process for the business and how Al Tayer Motors measures its achievement level for these objectives
People Management Roles and Responsibilities
- Provide leadership and direction to subordinates towards the achievement of goals and objectives
Guide, motivate, and evaluate subordinates on their performance, productivity and progress, while identifying training needs of team members to improve efficiency and ensure conformity with standard procedures and practices
Ensure that team members acquire the required skills and knowledge through appropriate training programs, while identifying the appropriate gaps and training costs/benefits to ensure budgetary parameters are met
Ensure potential successors are identified, developed, and trained for succession planning purposes
Qualifications & Experience
- Bachelor’s degree in Finance, Accounting, Economics or equivalent preferably in a business oriented discipline
Minimum 15 to 20 years of experience in design F&I products, out of which 3 to 5 years in a Senior Leadership role – preferably in the UAE
Strong communication and negotiation skills
Strong leadership and motivational skills
Strong analytical skills
Strong problem solving skills
Strong networking skills
Strong organizational and planning abilities
Strong managerial skills and result oriented
Strong inter-personal skills
Proficiency in Microsoft Office
Preferably proficient in Autoline
