The first two winners of the Subprime Auto Finance Executive of the Year presented during Used Car Week are collaborating to help increase business for Westlake Financial Services.
Westlake announced this week that the finance company recently contracted Bill Jensen to focus on developing its strategic accounts division. In this role, the company indicated Jensen will analyze all aspects of strategic account relationships to maximize business for dealerships and Westlake.
“Westlake’s relationships with strategic accounts are crucial to continued growth primarily because these accounts consist of the largest and most growth orientated dealer groups in the U.S.,” said Jensen, who was named the first winner of the Subprime Auto Finance Executive of the Year in 2013. “Westlake Financial is a strong competitor in the industry, successfully serving both franchise and independent dealers nationwide through its integration of technology and constant innovation.
“Westlake’s full range of financial services products and full-spectrum lending capabilities are a solid fit for auto dealers of all sizes,” continued Jensen, who is looking to leverage his extensive background in indirect auto financing from JP Morgan Chase, Mazda and Bank of America to provide Westlake measurable strategies to expand in this segment.
Jensen began his career in auto finance with Bank of America in 1972, joining their management trainee program. A year later, he joined Security Pacific Bank as an indirect auto collector, worked in various roles in both credit and sales and was appointed head of business development in 1989.
In 1993, Jensen became manager of dealer financial services at Mazda Motor of America where he expanded Mazda’s captive finance relationship with Primus, a subsidiary of Ford Motor Credit. Jensen returned to Bank of America in 1995 in the role of national sales and marketing manager in which he helped design and launch its national indirect lending platform.
He joined Bank One in 1999 as director of marketing. Then in 2005, the company was acquired by JP Morgan Chase and Jensen was appointed custom finance senior executive, a position in which he was responsible for subprime business and processes including originations, booking and funding, collections, pricing and profitability, dealer management, dealer administration, MIS and sales.
In 2012, he became national retail lending credit executive and was responsible for Chase Auto Finance Credit originations, booking and funding provided to more than 17,000 auto dealerships nationwide. In 2014, Jensen was appointed senior credit executive and was responsible for major credit origination process and control improvement projects until his retirement in 2016.
“Bill brings over 45 years of experience to this role,” said Ian Anderson, group president of Westlake Financial Services. “His knowledge will provide us even deeper insight into the needs and interests of these unique groups.
“We are dedicated to solidifying our position as the selected indirect lender for strategic accounts nationwide and we are confident that Bill will heavily contribute to this initiative,” continued Anderson, who was picked as the Subprime Auto Finance Executive of the Year a year after Jensen.