Ben Fernando is our new Vice President of Financial Planning & Analysis at America’s Car-Mart. We are thrilled and fortunate to welcome someone as skilled as Ben to our Car-Mart family. In this role, Ben will create and lead our Financial Planning & Analysis (FP&A) department.
As a seasoned leader with over 20+ years of financial experience at several Fortune companies, Ben brings a unique perspective and a thorough understanding of financial management. His guidance and leadership will help us grow and evolve Car-Mart to better serve customers.
Ben earned his Bachelor’s degree in Business Administration, Finance, from San Jose State University. He obtained his Master of Business Administration degree in Finance, from McNeese State University.
“I am excited about the opportunity to join Car-Mart and be a part of a company with a great culture and awesome leadership. It’s like a small family,” says Ben. “I look forward to building on the company’s rich heritage and legacy of success to help Car-Mart be a stronger leader in the industry.”
Here’s more about Ben’s experience and why he is excited about Car-Mart:
What drew you to this opportunity at Car-Mart?
Car-Mart is growing and evolving as a major player in the used car industry. Car-Mart is the nation’s largest publicly held automotive retailer operating exclusively in the “integrated auto sales and finance” segment. The company has grown an average in the high teens annually in the last two years, and it just passed the 100,000 active customer base. This distinction and growth intrigued me.
I was also impressed with Car-Mart’s focus on its mission, vision, and values. The company laser focuses on making two constituents happy – its great associates and its loyal customer base.
Additionally, the job requisition emphasized ‘servant leadership.’ I had never seen this in a job description. So, when I met with the Car-Mart leadership team and they exemplified this style, I was impressed. And as I learned about Car-Mart and its 42-year rich heritage, and met with more associates, I was convinced this opportunity fits well with the next phase of my career. I’m excited about the opportunities that are ahead for the company and look forward to being a part of the Car-Mart growth story.
You’re creating a new department – FP&A. Why is this important to Car-Mart?
Every company must have a strategic plan to drive growth and achieve its objectives. These goals are executed through the effective deployment of capital and resources – and this is where FP&A comes in. FP&A is responsible for budgeting, forecasting, decision support, and analysis. The department analyzes the current state of the business and helps leadership make informed decisions about the strategic direction of the company.
An effective FP&A is like arteries. It distributes oxygen by way of information and financial guidance throughout the organization. It is a partner to the business and encourages people to think holistically to have a stronger impact on the company’s performance.
Bottom line, Car-Mart’s new FP&A department will help the company stay competitive in years to come. And I’m excited to utilize my experience to build an organization and be a strategic partner to the executive leadership team to help Car-Mart do just this.
You’ve held leadership positions in the corporate finance world for many years. How will this breadth help you in your new role?
Over the last 20+ years, I’ve had the privilege of working at some Fortune companies in telecom, media, publishing, cloud computing, and information technology consulting. I’ve been involved in a few major mergers and acquisitions, a handful of spin-off transactions, and other high-stake projects. These experiences taught me the importance of collaboration and working as team. I have worked with great leaders and learned some best practices. Every experience will help us build a fantastic FP&A organization at Car-Mart.
Given the changes in the automotive industry, how might Car-Mart help lead the way?
While the automotive industry and economy have up and down cycles, Car-Mart has a history of overcoming these challenges. We’re focused on staying ahead of the next cycle.
Currently, we’re improving our infrastructure. We’re improving the car-buying process to make it more efficient for customers. We’re continuing our strong focus on customer service. All this is helping to position Car-Mart for a successful future.
Plus, Car-Mart is there for its customers when they experience financial challenges. The purpose of Car-Mart is to keep its customers on the road and provide peace of mind in one of the high-stress areas of life – vehicle ownership. Car-Mart will continue to help customers in their journeys. That’s our secret sauce, and why we’re the industry leader.
What are your hopes and dreams for Car-Mart?
It’s a great company, so I want Car-Mart to continue to grow, both organically and through acquisitions. I’d love to see us achieve our next 100,000 customers. Also, I want Car-Mart to lead the industry in delighting customers with its high-touch customer experience.
Are you a car person? Favorite car? Any fun car stories?
As a boy growing up in Asia, I had a far-fetched dream of owning a Ferrari but as a teenager, I downgraded it to a Jaguar. Today, I’m a proud owner of my second Toyota Camry. How times have changed! Today, my teenage sons have much more sophisticated cars as their favorite, and they think that I’m boring to drive my Camry.
