As the auto industry continues to pick up speed, lenders are accelerating hiring efforts.
What types of employees are lenders looking to add? Based on an informal survey of postings from multiple job sites, along with LinkedIn and individual lender sites, companies are scouting out sales folks to navigate expansion into new territories, collection execs to deal with rising delinquencies, and IT gurus to handle increasing tech initiatives.
Westlake Financial Services, for one, has 95 jobs listed on its website, about a third of which are for dealer account managers. Toyota Financial Services is advertising 22 jobs, including a forecast analyst for consumer delinquency, a couple internal auditors, and some treasury staff. Pelican Auto Finance and Capital One Auto Finance, among others, are looking to hire sales managers for many of their territories. And Ally Financial, Chase Auto Finance, SAFCo, and Wells Fargo are just a handful of others looking to fill spots.
Competition is already stiff in the auto finance space; seems like it will only get tougher as lenders battle it out for new hires.
I don’t understand. Subprime (and near-prime or even prime) finance companies have been profiting tremendously from this exact use of a fake social (with correct other info) for the past 20+ years. In fact, many companies owe most of their success to these customers, particularly in the western states. Isn’t it a little disingenuous for us, as an industry, to rise in indignation over this?
It is only the interlopers that need to be on the prowl especially for dealer account managers. Established, well-run bank dealer operations only need to continue consistent, solid service and support the commercial real estate needs of the dealers. They appreciate the new competitors when they start to buy the well run bank’s turndowns.
Unfortunately for the new lender on the block, the real keys to successful hiring and subsequent volume cannot be discussed in a public forum.