The Certificate for Automotive Finance Specialists (CertAutoFS), a new level 3 qualification, has been launched for finance professionals working in the automotive industry.

Developed in partnership by ifs University College, the university college for financial education, and the Finance & Leasing Association (FLA), the industry body for the motor finance sector, the qualification will help industry professionals to enhance their career prospects.

CertAutoFS provides students with the knowledge and understanding to analyse the automotive marketplace, including its legal and regulatory frameworks. It also explains the products, processes and principles currently employed in the industry, along with methods for improving customer service, customer retention and management techniques.

Commenting on the launch of the qualification, Martin Day, Vice Principal of ifs University College said: “The launch of CertAutoFS demonstrates the innovative and responsive approach of ifs University College as it continues to support the needs of the wider financial services industry. The automotive sector is an increasingly important element of the UK’s economy and, as it expands, it will be vital that its professionals are provided with the practical and theoretical knowledge to underpin this growth. With our expertise in developing innovative, relevant and challenging qualifications and the FLA’s industry insights and championing of the sector, we are confident that we have delivered a qualification that will become a benchmark for industry professionalism.”

Adrian Dally, Head of Motor Finance at the FLA, said:

“Development of this advanced version of the Specialist Automotive Finance qualification illustrates the motor industry’s commitment to invest in its staff so they can deliver the best possible service to customers.”