Institute and Faculty of Actuaries
Assistant Financial Accountant
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We are currently recruiting an Assistant Financial Accountant for a Permanent contract.
This role is hybrid, both working from home and in our Oxford hub.
We encourage our colleagues to work flexibly between home and the hub to suit their needs and preferences, in line with our hybrid working policy.
Colleagues are able to work their hours flexibly, in line with core business hours and requirements. We also offer formalised flexible working agreements.
The starting salary is £42,655 per annum.
To apply, please send a CV and cover letter to HRsupport@actuaries.org.uk by the closing date of Monday 31 August 2026.
Purpose of the Job
The Assistant Financial Accountant supports the Financial Accountant in delivering the IFoA's financial accounting, management accounts and statutory reporting obligations. The role has specific responsibility for accruals and prepayments, pension scheme administration, VAT compliance, subsidiary accounting, treasury management and investment reconciliation, as well as acting as Super User for the CRM and providing system training and support to the finance transaction team.
Reporting to the Financial Accountant, the post holder plays a central role in ensuring the accuracy and integrity of the IFoA's financial records and supporting the production of timely, reliable management and statutory accounts for the IFoA and its subsidiary and related parties.
Principal Accountabilities
- Run the monthly accruals and prepayments processing on the finance system, checking the correct impact of postings as part of the month-end closedown.
- Work with the Financial Accountant and other team members to identify accruals and prepayments and ensure the correct processing rules are applied.
- Manage and take responsibility for the IFoA's monthly pension preparation and liaison with pension providers, including all transactions, reconciliations and reporting related to the IFoA pension scheme.
- Prepare the IFoA's quarterly VAT return ready for review by the Financial Accountant, reviewing and analysing the return on the finance system to ensure partial exemption is correctly applied.
- Manage the accounting for the IFoA's subsidiaries and associated parties in its entirety, including income and expenditure posting, payments, bank reconciliations and periodic management accounts.
- Oversee the production of statutory year-end accounts for subsidiaries and associated parties up to final trial balance and completed draft accounts ready for review by the Financial Accountant.
- Calculate cash flow requirements for the Financial Accountant for onward review by the Head of Finance and Operations and the Chief Operating Officer.
- Prepare draft monthly IFoA cash flow and draft year-ahead cash flow reports for the IFoA, its subsidiaries and associated parties for budgeting or external audit purposes.
- Assist the Financial Accountant with the treasury management function for the IFoA and all subsidiaries and related parties.
- Enforce the IFoA Banking and Cash Management Policy and liaise with banks as required.
- Manage and oversee anti-money laundering and know your customer returns for the IFoA and its subsidiaries as required.
- Perform regular reconciliation of the IFoA's investments with fund managers, accounting for income, purchases and disposals, management charges and calculating the capital gain made in the financial year for inclusion in the statutory accounts.
- Perform the role of Super User for the CRM and work with the Financial Accountant on key user duties for the finance system.
- Develop and evolve processes and reporting for the CRM and finance system to maximise efficiencies for the transaction team and train other members of the team in the use of these systems.
- Prepare the IFoA's draft year-end accounts and any in-year management accounts for the IFoA's subsidiaries and related parties for review by the Financial Accountant.
- Work with the Head of Financial Planning and Analysis on the timely production of the monthly management accounts for the IFoA and subsidiaries to the agreed timetable.
- Ensure any purchase order system (to be introduced in late 2026) runs smoothly, including matching of supplier invoices to purchase orders working with the Accounts Payable Clerk.
- Cover for the Financial Accountant in the event of their absence.
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Decision-making and Complexity
The post holder works within established accounting standards, IFoA financial policies and the instructions of the Financial Accountant. They are expected to exercise sound professional judgement in the preparation of VAT returns, pension reconciliations, subsidiary accounts and investment reconciliations, identifying and escalating any material issues or discrepancies to the Financial Accountant promptly.
The role manages a varied and technically demanding portfolio of responsibilities, requiring careful prioritisation across competing month-end and year-end deadlines. The post holder must also exercise judgement in their role as CRM Super User, identifying and recommending process improvements to enhance the efficiency of the finance transaction team.
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Essential
Knowledge and experience
- Qualified accountant or qualified by experience in a similar role.
- Proven experience of financial accounting, month-end close processes and management accounts preparation.
- Experience of VAT compliance, including partial exemption, and pension scheme administration.
- Strong numeracy and accuracy skills with a high level of attention to detail.
- Experience of working with accounting software and finance systems.
- Ability to manage multiple concurrent responsibilities and work to tight deadlines.
- Good communication skills with the ability to liaise with colleagues, external advisers and auditors.
- Proficient in Microsoft Office, particularly Excel.
Desirable
- Experience of subsidiary accounting and statutory accounts preparation.
- Experience of treasury management and investment reconciliation.
- Experience of CRM systems, ideally Microsoft Dynamics, in a Super User or key user capacity.
- Experience in a professional body, membership organisation or charity.
Alternative Format and Adjustments
Please Email The HR Team If You Require
- any information regarding our vacancies in an alternative format
- any adjustments to support you to fully participate in any part of the application and recruitment process
Any information shared will be used only to enable us to make reasonable adjustments to support candidates to participate in the recruitment process. It will not inform selection decisions.
You can reach us at HRsupport@actuaries.org.uk.
Diversity, Equity, and Inclusion
The IFoA encourages applicants from a variety of backgrounds and experience and welcomes diversity with regard not only to protected characteristics but also diversity of thought. Diversity, equity and inclusion are more than just words for us. That’s why we are committed to creating a culture where everyone feels included and respected, and where no one is unfairly discriminated against. Consequently, we promote diversity, equity and inclusion in all our policies, practices and procedures, and actively encourage applications from a diverse range of potential candidates. All applications for our roles are considered on merit alone, and if you don’t meet all the criteria but believe you have something to offer, we want to hear from you. For more information on our commitments, please see our DEI strategy page.
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