F&I and Showroom, Industry Summit 2019

www fi magazine com 34 F I and Showroom Industry Summit 2019 IndustrySummit com NOVEMBER 4 6 2019 I NEW ORLEANS LA Schedule MONDAY 8 00 a m 7 00 p m REGISTRATION OPEN SPONSORED BY 8 00 a m 9 00 a m BREAKFAST WITH COMPLIANCE SUMMIT SPONSORS SPONSORED BY 9 00 a m 9 40 a m COMPLIANCE SUMMIT FEATURED PRESENTATION A FINE KETTLE OF FISH DEALER PLIGHTS WITH FRAUD AND LEGAL CHALLENGES Regulators chortle that they can never go wrong investigating or suing car dealers What are these daunting practices especially focusing on F I both new and old that invite this type of derision and potential liability Are there remedies that a dealer and the industry can implement to steel themselves from these challenges The answer is affirmative and the remedies may be surprising Presenter Terry OLoughlin Director of Compliance Reynolds Document Solutions 9 45 a m 10 20 a m COMPLIANCE SUMMIT FEATURED PRESENTATION WHEN SALES IS TO BLAME FOR NONCOMPLIANCE Compliance is overwhelmingly considered an F I function While it is true that the F I manager is the ultimate gatekeeper to ensure transactional compliance actual audit results show that the majority of compliance violations either germinate or occur during the sales process by salespeople and sales managers Presenter Gil Van Over Executive Director Automotive Compliance Education 10 20 a m 10 40 a m NETWORKING BREAK SPONSORED BY 10 45 a m 11 20 a m COMPLIANCE SUMMIT FEATURED PRESENTATION SAFELY PURSUE OUT OF STATE SALES AND REDUCE THE RISK OF IDENTITY FRAUD The objective of this session is to reduce the dealerships risk of identity fraud We will have a discussion on suggested safeguards to add to the dealerships existing Red Flag Compliance program when signing car documents out of state with the car buyer Solutions like utilizing an out of state notary are an easy way to improve the way the dealership does business safely with minimal cost We will go over some real life examples of what criminals have tried on other dealerships in the past and we will analyze where some dealerships have succeeded in detecting an out of state fraudulent deal and where others have failed With the rise of internet sales in 2008 the federal government passed the Fair and Accurate Credit Transactions FACT Act which made it mandatory for auto dealerships to establish a written Identity Theft Prevention Program also known as Red Flags compliance The FACT Act states that fraud alerts provide a vital service by issuing warnings about information that appears to be genuine on the customers application but may be questionable Every offsite or out of state customer will meet this standard because your dealership does not have the luxury of meeting the customer face to face Presenter Thane Nyo Vice President of Sales Maverick Document Signing 11 25 a m 12 00 p m COMPLIANCE SUMMIT TAG TEAM PRESENTATION ITS THE END OF THE WORLD AS WE KNOW IT Are you prepared to face a total compliance meltdown Very few dealers are fully equipped to prevent or confront malware and ransomware attacks disreputable vendors identity thieves and bank fraud But those threats are real and so are the solutions Join this session to get the tools and processes you need to reduce the risk of a financial and reputational disaster at your dealership Presenters Michael Tuno President ARMD Resource Group Robert Wilson General Counsel ARMD Resource Group 12 30 p m 2 00 p m ACE CERTIFICATION EXAM Whether you dont know an adverse action notice from a Monroney sticker or you need to get up to speed with a years worth of regulatory changes and enforcement actions you owe it to your dealership to earn or renew your Automotive Compliance Specialist certification from Automotive Compliance Education ACE certification including the exam and framed diploma is offered for no additional charge with your Industry Summit or PALS show pass SPONSORED BY Moderators Jim Ganther Co Founder Automotive Compliance Education Gil Van Over Executive Director Automotive Compliance Education 2 00 p m 2 50 p m TAG TEAM PRESENTATION WHATS NEW IN THE WORLD OF F I REINSURANCE Two reinsurance experts will discuss the latest developments and trends impacting F I reinsurance and other participation programs Topics will include dealer participation and dealer owned warranty companies as well as foreign and domestic reinsurance They will also examine how legal and accounting regulations as well as product trends could impact reinsurance programs Presenters Lee Bowron and John Kerper Co Founders Kerper and Bowron LLC