A basic understanding of Finance is very much essential in everyone’s life. The candidates who are acutely attentive in evolving their profession in finance sector should apparently go for the short term finance study courses such as Certified Financial Analyst course, and related programs in finance etc. According to the modern approach the term financial management provides a conceptual and analytical framework for financial decision making. Finance Manager has to evaluate the investment in relation to their expected results and risk to determine whether the investment is feasible or not. The Finance Manager has to take the decisions regarding the acquisition of finance.
The Finance Manager should also manage the current assets to have liquidity in the business. However the finance manager should also equally look after the current financial needs of the firm to maintain optimum production. Car finance managers evaluate and process loan applications, as well as coordinate the activities of subordinate loan officers and credit analysts. Car finance managers could expect a mean income of $51.74 per hour or $107,610 per year in 2011.
They also establish and carry out loan procedures and standards; ensure that the number and amount of loans meet dealer goals; and prepare reports for management. The BLS states that financial managers need a minimum degree in finance, accounting or business administration. Those helming larger dealerships with several branches may need a master’s degree in the same subjects. Some dealerships may have training programs to help subordinate workers qualify for the finance manager position even without the prerequisite educational background.
Car finance managers generally start work at automobile dealers as either credit analysts or loan officers. The BLS showed an even split between both professions, which may indicate interchangeability between both job titles. The BLS sees jobs for all financial managers, including those working in car finance, increasing at 9 percent from 2010 to 2020. This compares to the 7 percent growth seen for all management occupation and the 14 percent predicted for all jobs in all industries.
As billybuc stated, this is a very interesting series you are writing about the salaries for various types of jobs. It is valuable for those people seeking jobs in the here and now and also considering jobs for the future. I held the positions of corporate training director, finance & insurance manager, and sales manager during my stay. In fact, in many dealerships, the F & I position is a prerequisite to Sales Management, and takes the more intelligent salespersons through an on the job training process.