F&I Compliance Manager
£50k + car +
Due to phenomenal success and growth my client is seeking an experienced F&I Compliance Manager to join their business. This is a new role and will be based from client Head Office in Northampton and will report into the CFO.
The successful candidate will be responsible for managing all Finance & Insurance “F&I” and General Data Protection Regulation “GDPR” regulatory compliance requirements within business.
- Full responsibility for the F&I and GDPR compliance with all regulatory rules and requirements (wide and varied)
- To assist the stores in meeting and maintaining the required standards as dictated by the FCA for selling, recommending or dispensing advice relating to general insurance and/or finance products or services offered by them to their customers
- Responsible for reporting and compliance with the Data Protection Act and prepare for the General Data Protection Regulation on its planned implementation in May 2018
- Maintain and update as required all regulatory documentation and manuals
Training and Competency
- In conjunction with the Training Manager, you will ensure effective training programme materials to include sale scripts, sales aids, key procedures and with sufficient focus on integrity and regulatory standards for authorised persons
- Assist with the regulatory compliance education and training to Senior Management and the business
- Analyse customer complaint records (e.g. by product type, root cause analysis, store location etc) to ascertain if training and competence schemes within the business are effective
- Monitor customer feedback from internal surveys and mystery shops to ascertain any trends / root causes that could potentially lead to customer complaint
- Support with the analysis and evaluation of regulatory changes for inclusion in procedures and likely impact on business, both financially and operationally
- Implement a schedule of store audits of a sample of “Demands and Needs”
- Regular interaction with the parent companies compliance and training teams to share best practice.
- Ultimate objective to have a single, consistent approach to compliance and sales process.
- With the Head of Group F&I Compliance and CFO design, implement and maintain a compliance monitoring program.
- Produce timely and relevant reports to management of areas of potential concern, providing considered and effective recommendations for action and improvement
- Assist in conducting investigations where potential issues have been identified and produce appropriate reports and action plans to ensure future compliance.
- Implement a programme of site visits to conduct FCA compliance audits to assess effectiveness of the sales process
- Review F & I management information to identify potential trends for further investigation; indicators to include complaints, cancellations, VAP ‘initiated’ sales, high penetration rates, volumes of sales, etc.
- Review/have oversight on all company website and marketing material to ensure compliance with FCA regulations/principles.
They are looking for someone who has experience of a compliance role within the automotive industry as well as knowledge of UK regulatory framework and requirements and a good understanding of the regulatory requirements applicable to F&I/FCA/DPA. You need to be driven, confident and highly motivated, willing to embrace new initiatives. You will also need to be flexible as there will be travel to all of our stores with at least one overnight stay per week.
You will also need to hold a full UK Driving License