A Finance and Insurance Manager, often referred to as an F&I Manager, is responsible for offering finance or insurance options to clients, typically in a dealership environment. This professional explains available offerings, recommends suitable products, and helps clients select financing and insurance that best meet their needs. Key duties include negotiating contract terms and rates, ensuring applications and paperwork are completed accurately and on time, and maintaining compliance with all relevant financial regulations[1].
The F&I Manager acts as an intermediary between customers, the sales team, lenders, and providers of insurance and extended warranty products. They interview customers to assess their needs, advise on the best products, and clearly communicate all options and requirements. Administrative tasks such as processing paperwork, collecting payments, closing deals with lenders, and finalizing completed or canceled contracts are significant parts of the role[3][5].
Successful candidates need strong mathematical and financial skills, advanced communication abilities to explain complex options, thorough knowledge of compliance requirements, and advanced negotiation and sales skills. Experience in the automobile industry, leadership capabilities, and training skills to support the sales staff are also important[3].
Education requirements can vary. While a bachelor’s degree in finance, accounting, or a related field is advantageous and sometimes required, relevant industry experience is often equally valued. F&I Managers typically report to the head of a unit or department and may supervise a group of staff or manage a small team, making decisions within their unit and holding some authority over personnel actions[1][5].