Managed F&I Product
Compliance
A dynamic compliance approach for the full lifecycle of F&I products, from origination to servicing & cancellation.
Experience the dynamic compliance approach
Explore the benefits of our managed compliance solutions. From funding to servicing to cancellation, tap into the unrivaled expertise, unparalleled insights and unmatched rigor of our Concierge Compliance Team. Leveraging CITADEL®, our team meets auto lenders wherever they are on their aftermarket product compliance journey.
Highlights:
- Seamless Deployment: Our expert team guides you through the configuration and deployment of the compliance platform.
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Dynamic Configuration: Customize minimum business requirements and product submission agreements to meet stringent regulatory standards.
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Ongoing Management: Benefit from continuous monitoring and evaluation to maintain compliance in an ever-evolving regulatory landscape.
Upstream: originations
F&I Sentinel managed compliance solution for originations
With our managed compliance solution for originations, auto lenders will also know that the aftermarket product they finance is compliant, before they finance it.
UPSTREAM:
Originations
Phase 1
Deploy
Gather data & integration needs for lender-specific CITADEL® instance. Build risk profile by product type against regulatory standards.
Phase 2
Configure
Create Minimum Business Requirements (MBRs) for product credentialing. Develop product submission agreements that create a win-win for you and F&I product companies.
Phase 3
Go-live
Administrators begin adding products to lender-specific CITADEL® for credentialing. Dealers can begin accessing credentialed products.
On-Going Engagement
Dynamic Compliance Management
Ongoing monitoring and reporting on litigation, regulatory and legislative developments. Continuous review of new product submissions against MBRs and regulatory updates.
Deployment process details - originations
UPSTREAM: Originations
Phase 1
Deploy
Our expert team will work with you to deploy the CITADEL® Platform and necessary technology integration(s). We build out your profile against the risks of each F&I product and industry standards.
Concierge Kick-off
During this phase, the F&I Sentinel Concierge Compliance Team works with you to map the internal and external stakeholders involved in the funding of F&I products. This includes identifying key contacts in the originations, compliance and servicing groups, as well as your external partners: the product companies and dealers. We also map your environment and collaborate with your team to identify and prioritize potential integration points.
Identify & Assess
Next, your Concierge Compliance Team begins the proactive Managed Compliance process where we learn about the F&I products you are currently funding, the controls and processes that are currently deployed to map the risks associated with each product.
Phase 2
Configure
We use your profile to develop an approved set of minimum business requirements (MBRs) for each product type. We also consult with you to develop your own product submission agreements. These agreements protect consumer interests while creating a win-win for you and F&I product companies.
Bridge & Resolve
The F&I Sentinel team delivers two primary mechanisms that drive a proactive compliance posture. We assist you with the creation of a set of minimum business requirements (MBRs) based on your risk threshold, and state and federal compliance standards. Only products that meet your MBRs are added to your online product repository within CITADEL®. Correspondingly, we will assist you with the creation of a product submission agreement that will ensure consumer interests are protected and that outlines the requirements and standards for F&I product companies in your network.
Training & Transition Go-Live
To ensure a smooth transition on Go-Live, training sessions are conducted for CITADEL® users from your funding, dealer-facing and servicing teams. During this phase, dealers and F&I product companies are notified of the Funding Rule Date when only approved – aka Credentialed – products will be funded.
Phase 3
Go-live
Your instance of CITADEL® is available to product companies for the submission of new F&I products to be reviewed and credentialed by your Concierge Compliance Team. Products must meet MBRs to reach “Credentialed” status. Dealers in your network are empowered with access to view your repository of approved and compliant products ensuring that dealers only send credentialed products your way.
Implementation
In this phase, your Concierge Compliance Team secures executed product submission agreements from F&I product companies on your behalf. The latter will be able to submit products to your instance of CITADEL® for review on an ongoing basis. Your dealer partners will have real-time view access to new products as they attain “credentialed” status.
On-Going Engagement
Dynamic Compliance Management
On the day that the Funding Rule goes into effect, our team continuously evaluates new product form submissions against new and existing regulatory rules and credentials only those that meet your MBRs to ensure continuous and dynamic compliance.
Activation & Continuous Monitoring
After the Funding Rule Date, only approved products in your repository will be funded. Your Concierge Compliance Team continuously monitors legislation, regulatory developments, and litigation regarding F&I products and updates you on relevant developments to enable you to respond to any current and potential changes surrounding the financing of F&I products. With F&I Sentinel, you can rest assured that you will have your finger on the pulse of all the latest developments that affect your company.
DownStream: Cancellations
Experience the dynamic compliance approach for Gap Waiver cancellations
The CITADEL FAIRRCalc® quote engine was introduced last year and is now generally available. Developed in response to the continued scrutiny and enforcement actions taken by state and federal regulators regarding F&I product cancellations and consumer refunds, the quote engine generates accurate, real-time GAP waiver refund quotes when deployed in conjunction with F&I Sentinel’s managed compliance for originations.
DownStream
Cancellations
Phase 1
Intake
People, data and process identification and collection to configure the FAIRRCalc® quotes engine.
Phase 2
Design
Configure FAIRRCalc® engine with your refund methodology incorporating federal and state regulatory standards. Customize dealer and product company notification letters and emails.
Phase 3
Implement & Verify
Connect your instance of FAIRRCalc® with your product repository. Conduct verification analysis.
On-Going Engagement
Go-Live
Schedule and conduct user training for funding, dealer-facing, and servicing teams.
Refund-quote generation available via your instance of FAIRRCalc®.
Deployment process details - GAP Waiver cancellations
UPSTREAM
Originations
Enhance compliance seamlessly. From setup to continuous oversight, ensure regulatory adherence and minimize risks with our proactive compliance system.
DOWNSTREAM: Cancellations
Phase 1
Intake
Our Concierge Compliance Team meticulously collects and maps the essential data and processes pertaining to F&I product contract cancellations and refund processing to identify gaps that could lead to non-compliance.
Phase 2
Design
Configure your instance of the FAIRRCalc® quote engine with your refund methodology. With FAIRRCalc®, federal and state regulatory standards are built-in.
At this stage, you can also leverage CITADEL®’s notification function to customize dealer and product company letters and emails ensuring compliance and transparency at every stage of the process.
Phase 3
Implement & Verify
During this stage, the FAIRRCalc® engine is connected to your online F&I product repository, enabling swift and accurate verification analysis.
On-Going Engagement
Go-Live
For a seamless go-live, comprehensive user training sessions for your funding, dealer-facing, and servicing teams are conducted prior to the FAIRRCalc® go-live date. The Concierge Compliance Team continuously monitors legislative developments and provides actionable updates on those that could impact your operations.
Managed cancellations now available for the full spectrum of F&I products
Read the press release about our acquisition of Express Recoveries from Cox Automotive.
Products covered & credentialed
GAP Waivers
Vehicle Service Contracts
Tire & Wheel
Key FOB
Windshield
Paintless Dent Repair
Ancillary Product Bundles
Prepaid Maintenance Agreements
Excess Wear and Use
Credit, Life, Accident & Health Insurance
Vehicle Value Protection Products
Motor Club
Enhance Your Compliance Posture
Streamline compliance processes, boost data transparency and level-up operational efficiency with dynamic managed F&I product compliance solutions from the leader in the field.
Talk to an F&I Sentinel expert today.