Market Awareness

How brands and finance companies offer their products, their criteria and how regulation affects the sales of Motor Finance funding.

How the full portfolio of products can facilitate or affect the sales of vehicles.

Motor Finance Products

The range of types and structures of vehicle funding and related products, their features/benefits and how they may apply to customers e.g. ownership / non-ownership products; extended / cosmetic warranty; paint protection

Regulatory, Taxation and Compliance

The regulatory and legislative environment for Motor Finance and the impact of this on their role. How the principles of legislation, taxation and VAT could affect the choice of funding method used by the customer. The detailed regulation, tax and compliance rules for the products that they support.

Business Awareness

Their organisation’s business strategy, culture and role within the Motor Finance sector. How their own role fits within the wider organisation and Motor Finance industry.

How their role impacts and benefits the customers of their organisation.

Systems and processes

The detail of all systems and processes used in the role together with the standards to be met, including IT tools. 

Customer Service

Deliver excellent service, meeting customer needs and delivering fair customer outcomes e.g. producing quotations or reports. Handle a range of situations including dealing with complaints appropriately.

Delivering results

Deliver work that meets required quality, standards and targets, using the required systems and processes. Take the initiative to meet challenging individual and team performance measures in line with organisation policy, values, standards and legal/regulatory requirements.

Plan and manage own workload effectively, responding to changes when necessary.

Communication

Demonstrate good interpersonal skills, communicating effectively and appropriately with all stakeholders e.g. customers, Intermediary staff / management and Finance Company teams. Use a range of media to communicate well e.g. phone, email, letter, face to face, social media.

Team working

and collaboration

Consistently support colleagues and collaborate to achieve results. Build and maintain strong working relationships with colleagues and clients e.g. sales teams, customer service teams and all levels of management. Is aware of own role within team and impact on others.

Personal Development

Proactively plans and records their own development in both current role and career through a range of methods e.g. workplace learning, professional courses. Seek feedback and act on it to improve their performance. Build their own capability through ownership of their own development, in consultation with their manager. Keep up to date with relevant changes. 

Integrity

Truthful, sincere and trustworthy in their actions. Shows integrity by doing the right thing, in line with employer policies/legislation/compliance etc. Maintains appropriate confidentiality at all times.

Commitment and Enthusiasm

Demonstrates enthusiasm and dedication. Willing to suggest / share new ideas and opportunities for change.

Adaptability

Accepts changing work priorities and patterns when new jobs need to be done and adapts to business change.

Resilience

Displays energy and enthusiasm in the way they go about their role, dealing positively with setbacks when they occur. Stays positive under pressure.

Operational Processes

The detail of relevant operational processes e.g. underwriting, payouts, dealer support. The finance company “back office” functions of collections, customer service, finance, dealer development and sales support etc, together with how their role interfaces with them

How legislation and the wider finance sector affects the market and creates product portfolios in the Motor Finance Sector.

Business Understanding

The Finance Company role in the lifecycle of a vehicle / customer.

The Intermediary (as customer) and/or end customer requirements to maintain controls over cash-flow, performance and achievements of targets in order to ensure the Motor Finance department is a critical income / cost centre.

Skills

The ability to:

Analysis and Decision making

Analyse a range of information contained in applications, comparing them against relevant criteria to reach an appropriate decision / recommendation. Identify non-standard situations and escalate when required. Produce relevant management / regulatory reports.

Continuous improvement

Identify opportunities to improve work practices. Take ownership of specific changes through to implementation where appropriate.

Funding Product

Benefits

The detail of relevant finance products, how to structure them and create solutions that meet customer needs for private and/or business users. The legislative / compliance requirements

and how to explain the customer’s contractual obligations.

Business Understanding

The requirements to maintain controls over cash-flow, performance and achievements of targets in order to ensure the Motor Finance department is a critical income / cost centre.

Buying / Selling Behaviours

Why customers buy, what motivates them to buy and typical types of customers.

Skills

The ability to:

Consultative Selling

Demonstrate good customer listening and understanding skills to match product features to their needs and requirements, in order to create benefits for the customer. Follow and maintain processes to ensure compliance whilst enabling customers to make informed decisions.

Demonstrate they can follow a defined sales process.