Finance Director

It's All Good at Applewood!

The Applewood Auto Group in Langley, BC is looking to add an experienced Finance Director to our team. This is an Independent Contractor Position.

Roles & Responsibilities:

You'll report to the GM and will have a team of Product Advisors and Finance Managers working with you to ensure our customers' financing are taken care of.

• Managing the finance team: The Finance Director will manage a team of Finance Managers responsible for selling financial and insurance products. You must provide guidance and support to ensure they meet performance standards and align with the dealership's goals and values.
• Managing financing and insurance processes: The Finance Director oversees financing and insurance processes related to vehicle purchases. This includes working with lenders and underwriters to secure financing for customers and ensuring compliance with regulations related to loan origination.
• Managing cash flow: The Finance Director is responsible for managing the dealership's cash flow, monitoring accounts receivable and payable (CITs) and ensuring we are funded on time.
• Ensuring compliance with regulations: The Finance Director is responsible for ensuring that the dealership complies with all regulations related to financial operations, including those related to loan origination, taxes, and accounting practices.
• Driving growth: The Finance Director is responsible for driving growth and achieving revenue goals set by the leadership team. You must be able to identify new growth opportunities, develop effective sales and marketing strategies, and lead the team to execute those strategies.

Measurables:

• Customer satisfaction score (CSI): This measures customers' satisfaction with their experience when interacting with the finance department. This can be measured through surveys or feedback forms.
• Finance Penetration Rate: This measures the percentage of customers who finance their vehicle purchases through the dealership's finance department, indicating how successful the department is in upselling financing options.
• Loan Approval Rate: This measures the percentage of approved loan applications, indicating the finance department's effectiveness in securing financing for customers.
• Average Finance Time: This measures the amount of time it takes to complete a customer's financing process, indicating the finance department's efficiency and effectiveness in providing financing options.
• Product Sales Per Finance Contract: This measures the average number of additional products or services sold with each finance contract, indicating the effectiveness of the finance department in generating additional revenue.

Commission Payment:

As an Independent Contractor, you will be paid a variable commission payment plan. Provided you hit your targets, our Finance Directors can make anywhere between $150,000 to $250,000 annually. As an Independent Contractor, you are responsible for setting up your own Sole Proprietorship and registering to have a GST number. After which you are responsible for paying your yearly taxes as a Sole Proprietorship (or Corporation, if you so choose). It is generally advisable that you connect with a Tax professional to receive advice on how to handle this from the beginning of your contract with Applewood.

What we need from you:

You should have working knowledge of how the car industry works and would have worked as a Financial Services Manager at another dealership. That way, you can provide sound advice and recommendations to your team. You know your way around prime and subprime options and are great at coaching people.

We are looking for someone who is enthusiastic, fast, efficient, knowledgeable, and ready to join an amazing team!

Why should you work for Applewood?

• Excellent compensation package(s)
• We stand out from the rest because we are TRULY PASSIONATE about cars!
• 11 dealerships and counting to work alongside and grow with
• Group events, Applewood Family Day, Xmas party, BBQs, and more
• We support local communities, sports teams, and charities.

Our Core Values:

Best-in-Class Experience: We are committed to delivering a Best-in-Class experience to every team member and client that walks through our doors.

Find a Way to Say Yes: We take full ownership, embracing the responsibility to “Make Things Better.