Director of Auto Lending Operations

Korn Ferry • rockwall, tx, us • 2m ago

The Company

Founded in 1957, our client is is a worldwide leader in the automotive industry.

Headquartered in Costa Rica, the group has established a presence in the United States with operations throughout Texas since 2012 and is rapidly expanding. Our commitment also extends to sustainability in three major areas: economic, social and environmental. Our most valuable is our employees. Our business success is 100% linked to their development and training as well as providing a culture and leadership team that allows them to thrive.

Owned and backed by one of the largest family-owned conglomerates and private equity investors in Latin America, the company is increasing its focus on the US markets across their portfolio companies.

The Opportunity

Purpose of the Position

This role involves establishing and managing a captive finance company, offering direct lending to customers, and expanding these services to external, non-affiliated dealerships across Texas. Additionally, the Director will spearhead business development initiatives to extend the company’s lending capabilities, ensuring financial growth and operational excellence. They will manage an existing portfolio of loans for new and used vehicles, with a focus on serving subprime and credit- challenged consumers.

The Director of Finance and Operations will be responsible for developing, implementing, and overseeing the financial strategies and operations across the company’s wholly-owned automotive dealerships in Texas. The individual will work to improve and enhance established financial processes, ensuring compliance with industry regulations, managing financial reporting, and lead a team to optimize the financial performance of each dealership as the portfolio grows.

Key Responsibilities

Subprime Financing Operations: Develop and manage financing programs tailored to subprime and credit-challenged customers, ensuring accessible auto loan solutions.
Captive Finance Company Management: Oversee the creation and operation of an in-house finance company to directly finance auto purchases without relying on traditional auto loan providers.
Business Development: Identify and pursue new business opportunities, extending lending services to non-affiliated dealerships across Texas. Build relationships with other dealership owners and decision-makers to promote financing solutions.
Strategic Planning: Design and implement financial strategies aligned with the company’s goals to enhance profitability and growth. Collaborate with the executive team on long-term financial planning and market growth strategies.
Operational Management: Lead day-to-day financial operations, including budgeting, forecasting, cash flow management, and financial reporting across the dealership group.
Team Leadership: Build and manage a finance team, providing leadership, mentorship, and support to ensure the effective execution of financial activities.
Compliance, Risk Analysis & Risk Management: Ensure all financial operations comply with federal, state, and local regulations, including tax laws and automotive financing rules.
Financial Reporting: Prepare and present financial reports to the executive team, providing insights and recommendations based on financial performance.
Vendor Relations: Manage relationships with dealerships, and other third-party vendors to secure favorable terms and financing options.
System Implementation: Lead the implementation of financial software and systems to improve efficiency and accuracy in financial operations.
Cost Control: Identify and implement cost-saving measures without compromising the quality of operations.
Strategic Planning: Collaborate with senior management to develop long-term financial goals and operational strategies.

The Candidate

Experience and Professional Qualifications

Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. MBA preferred.
Significant experience in automotive finance, particularly in subprime or credit-challenged consumer lending.
Proven experience in a senior financial management role within the auto lending industry or dealer-direct financing.
Proven experience in business development, ideally in extending finance products or services to new markets or customers.
Strong understanding of automotive finance, dealership operations, and related financial regulations.
Strong analytical abilities and attention to detail in financial reporting and decision-making.
Knowledge of risk management and a keen eye to authenticating documents
Excellent customer service, organizational, and negotiation skills
Exceptional leadership, team management and communication skills.
Proficient in financial software and systems relevant to dealership operations.
Strong organizational skills and attention to detail.

Education