Categories
EFG Companies

EFG Attracts Top Finance and Accounting Executives

DALLAS, TX (October 22, 2019) EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced the hiring of two financial professionals who, with their combined 50 years of experience, will provide a valuable resource in EFG’s efforts to innovate new solutions for its automotive retail dealers, lenders, and agents. Neha Parikh assumes the role of Chief Financial Officer and Ben Cantrell, CPA will serve as Vice President, Treasurer and Controller.

As CFO, Neha Parikh brings almost 30 years of experience in financial management at Fortune 100 and mid-size companies to her role.  At EFG, Neha will utilize her extensive experience in financial and business planning, resource allocation, and financial reporting to provide strategic direction, decision-support, and leadership for EFG’s accounting and financial planning division. Neha’s managerial and consulting experience spans companies like GoDaddy, ADP, Verint, Cox Enterprises and AT&T, where she served in various capacities ranging from Executive Director to Business Unit CFO. She received her MBA in Finance from San Jose State University, and her BBA in Financial Accounting from Mumbai University.

Ben Cantrell brings two decades of experience in finance, accounting, operations and retail automotive to his role as Vice President, Treasurer and Controller. In this role, Ben will analyze complex processes and systems to plan and implement dynamic solutions with a focus on cost savings and cash flow optimization.  Prior to EFG, he served as Chief Financial Officer for Seniority, Inc., and for Senior Quality Lifestyles Corporation. Ben also served as Audit Supervisor for Lane Gorman Trubitt, PLLC, and as Staff Accountant for RSF Partners. Ben is a certified public accountant and received his Bachelor of Business Administration from Baylor University. He also received an MS in Accounting and his MBA in Accounting and Corporate Finance from the University of Dallas.

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Compliance Data Security

What IS a CISO?

Contributing Author:
Maurice Hamilton
Vice President
EFG Companies

If you’re in the retail automotive business, you’re used to dealing with regulations and compliance issues. It’s simply part of doing business. However, sometimes when a new regulation comes down, it’s all too easy to balk at the potential increased cost in both financial and time investment to implement them. Right now, there is a lot of talk about updating the Safeguards Rule, and the potential business impact.

Let’s step back and look at the regulation. As part of the Gramm-Leach-Bliley Act, the Safeguards Rule was designed to protect the security, confidentiality, and integrity of customer information.

16 CFR Part 314 Rule Summary:

The Safeguards Rule requires financial institutions under FTC jurisdiction to have measures in place to keep customer information secure. In addition to developing their own safeguards, companies covered by the Rule are responsible for taking steps to ensure that their affiliates and service providers safeguard customer information in their care.

While it is in the inherent best interest of a dealership and its partners to protect and secure customer data, a new wrinkle was recently added that has many in retail automotive scratching their heads. The April 4th issue of the Federal Register contained an update to the Federal Trade Commission’s Notice of Proposed Rulemaking concerning the Safeguards Rule. This issue included several additional requirements that will impact dealerships. One of the most pervasive is the requirement for a Chief Information Security Officer (CISO), which begs the question – what the heck is a CISO and where do you find one?

Categories
EFG Companies

EFG Spearheads F&I Choice with Signature Finish Elite Appearance Protection

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced the launch of Signature Finish® Elite Appearance Protection, designed to boost customer satisfaction and dealership PRU by providing more appearance protection options. For more information, visit http://bit.ly/2kjihg4.