Purpose of the role:

To assess the financial risk to VWFS of entering into agreements with dealers to fund vehicle fleets and build/provide dealer facilities. To monitor the operation of dealers to assess their continued financial viability and to provide regular reports both locally and to headquarters.

Key responsibilities of the role:

• Assessment of new dealers:
  • Gather data from various sources to enable an assessment to be made of the financial risks of a new dealer being provided with credit
  • Prepare a Credit Application for senior Management or headquarters covering earnings of dealer, risks, securities and make recommendation on terms for approval of the application.
  • Communicate with relevant parties on credit application providing feedback, seeking further information and if necessary, negotiating better security to support the application.
  • Deal with any queries from senior management, Regional Managers and headquarters relating to application.
• Implement new approved dealers:
  • Prepare letter to dealer advising terms of approval of credit and the information that the dealer will be required to provide.
  • Prepare and/or arrange the preparation of contract documents to implement approval. Version 2.1 HR Department Valid from 2024
  • Finalise contractual documentation with dealer and ensure that an account has been created for the dealer in the system
  • Arrange documentation and ensure that any existing loans/stock is taken over by VWFS when a new dealer is approved.   
• Conduct annual reviews of dealers:
  • Review the performance of dealers annually identifying any issues that need to be addressed to minimise risks
  • Ensure that the terms of the agreement has been complied with
  • Negotiate with relevant parties any additional security that may be required or any necessary variation to the terms of the original agreement.
  • Produce a report for senior management giving results of review and recommendations for change.
• Assess interim credit applications:
  • Assess credit risk associated with interim applications made by dealers.
  • Provide report to senior management on whether the application should be approved and identifying any conditions that need to be imposed.
• Monitor monthly financial results of dealers:
  • Monitor on a regular basis the monthly financial results provided by dealers.
  • Identify trends that may have an impact on the credit risks associated with dealer(s).
  • Propose actions to be taken to minimise or eliminate the risks posed to VWFS.
  • Negotiate any changes to credit applications with dealers resulting from the reviews.
• Provide Monthly reports:
  • Prepare monthly reports for management that;
    • Identifies any developments impacting dealers.
    • Progress of credit applications, pending annual reviews of dealers, financial information supplied by dealers.
    • Monitors fleet dealerships. d) Pending acquisitions.
• Quarterly Reports:
  • Prepare report to headquarters showing financial performance of dealers against defined criteria – amount of funds lent to dealers versus amount of credit available to dealers.

Key requirements for the role:

• Tertiary qualifications in Accounting or Finance
• 2 - 5 years' experience in underwriting, corporate lending, business banking, floor plan / bailment finance or related discipline
• The ability to identify and develop alternative solutions to problems
• Excellent attention to detail
• Excellent customer service skills
• Experience in assessing the financial performance of companies
• Analytical ability, knowledge and good understanding of financial ratios used to assess the viability of business
• Financial industry background an advantage and auto industry knowledge desirable
• Strong negotiation skills
• Excellent verbal and written communication skills