We are currently recruiting a Financial Accountant for a Permanent contract.
This role is hybrid, both working from home and in our Oxford hub, with a minimum of one day per week in the 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 £52,630.
To apply, please send a CV and cover letter to HRsupport@actuaries.org.uk by the closing date of 24 March.
Interviews will take place in the week commencing 7 April.
To provide a full, accurate and comprehensive operational financial accounting service to the Institute and Faculty of Actuaries (IFoA). To oversee all financial transaction for the IFoA, its subsidiaries and related parties to support the Head of Finance and Operations with the IFoA’s long-term financial health and growth.
No budgetary responsibility
Team of five (Finance Transactions Team). Two direct reports – Payroll Officer and Accounts Manager.
Financial authority limit: - £500 for SFNFIN only.
Can commit treasury funds (as authorised by Head of Finance and Operations) as per the terms of the banking arrangements between IFoA and the financial Institution. Cheque signatory for IFoA and related subsidiaries and Associated companies and Staple Inn Actuarial Society (SIAS) and all banking arrangements for investments (signing and release requires at least one other signatory).
The IFoA has an annual turnover of approximately £31m per annum. The post holder will be part of the team that processes the income and associated expenditure.
Oversee the management of the Finance Transaction Team, lead, mentor and develop them to their full potential, helping to foster a culture of high performance and continuous improvement and ensuring a good financial service for the organisation as a whole.
Manage and oversee the process of timely completing the year end statutory accounts for the IFoA, IFoA Group and all subsidiaries and related parties, to enable the external auditors to sign off the accounts as satisfactory for publication.
Manage and implement any necessary changes to ensure that the system of internal financial control is satisfactory and that compliance with it is at an appropriate level throughout the organisation. This scope includes full responsibility for the Finance system, credit / debit card systems; and shared responsibility for HR and Payroll systems, CRM and any other system that has an interface with the Finance system.
To prepare the monthly accounts to ensure all transactions for the month are included or accrued / pre-paid into the month end. To oversee the month end processes and to support the Accounts Manager and the team in doing so.
To oversee and manage the efficient back-office operation of the Dynamics CRM to ensure the CRM income reconciles to that shown on the bank statement. This may be either credit / debit card as well as bank transfers. To represent the Finance point of view in any changes / enhancements that are made and to work on any changes and enhancements to the CRM as the Finance specialist.
To oversee the weekly payment runs and to release payments as second signatory (with the Head of Finance and Operations as alternative).
Oversee the cash flow requirements budget on behalf of the Head of Finance and Operations and the Chief Operating Officer.
Perform the Treasury management function for the IFoA and all subsidiaries and related parties. Enforcement of the IFoA Banking and Cash Management Policy. Liaison with banks as required to always ensure the smooth operation and reconciliation.
Manage and oversee the anti-money laundering and know your customer returns for IFoA and its subsidiaries as required for banks, credit / debit card providers and other suppliers who require these declarations.
To provide a fully accounting service for the current IFoA Offices set up in other countries – Singapore, mainland China (via a Representative Office) and Malaysia including taxation and payroll services as well as year-end returns to the various governments departments in those countries.
To oversee the setting up of new suppliers with the Procurement Team, checking their details are correct especially the suppliers bank details and the correct payment details are recorded on the Finance system.
To oversee the production of the In-house IFoA Payroll with the Payroll Clerk and the HR Team, to double check the monthly changes have been actioned correctly and to countersign the release of the payroll. To be the backup for the in-house payroll production if required.
To oversee the Accounts Manager in their work as key user for Finance for the CRM and as key user for the Finance system.
Provide and manage appropriate and timely training and support on financial matters for all budget holders.
To ensure the Finance Team has good working relationships with the IFoA’s suppliers and other stakeholders including board and Council members, key volunteers and self-employed sub-contractors.
Will have both internal and external contacts and be required to provide advice and guidance.
Internal contacts include all senior managers and budget holders, Senior volunteers, Members of Council and IFoA Board and committee chairs.
External contacts include external and Internal auditors, company bankers, partner finance teams, government regulatory bodies, self-employed sub-contractors and suppliers as required.
Has a significant impact on the work of other teams and organisational processes who are dependent of suppliers being paid on time and regular accurate monthly management accounts.
Accuracy of the Finance system database is key to the success of this role within the organisation. Timeliness of processing all data entered on the finance system is also key. Reconciliation to the bank statements needs to be maintained at all times.
The role will need to make decisions on financial matters relating to the accurate recoding of transactions in the Finance ledgers. This may be from first principles at times and must always be in line with UK GAPP and any legislation applicable to the UK and other countries where IFoA or its subsidiary ICA 98 Limited has a fiscal presence.
The post holder will need to work with the Head of Finance and Operations on any new accounting treatment (possibly with advice from the IFoA External Auditors) to ensure accounting treatment is correct.
Working reconciliations from first principles at times or looking to improve or change the reconciliation of existing system with minimal guidance is a main element of the role.
Essential:
Desirable:
The role holder must be an ambassador for and demonstrate the IFoA Values in all aspects of their work.
Please email the HR Team if you require:
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.
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.
If you have any questions for the HR Team, please email us.
We aim to respond to all initial enquiries within 3 working days.