Job profile
Investment Accountancy
Similar job titles
Fund accountant
Fund accounting analyst
What
Just as businesses are legally obliged to maintain accurate accountancy records and other
transactional documentation in preparation for audits, so too are investment funds. Investment
accountancy professionals produce statutory reports for investment trusts, unit trusts, OEICs, Pension
Funds, etc. It’s a job that requires working closely with many different people in the operations and
asset services team, from reconciliation professionals to fund reporters plus fund administrators, fund
managers, global custodians and corporate actions employees. You would usually be responsible for
ensuring the Net Asset Value (NAV) of funds is calculated correctly. Other key duties include making
sure financial records are maintained according to organisational policies and procedures, preparing
annual reports and the timely preparing and filing of monthly and periodic reports.
Salary
Trainee positions such as a fund accounting assistant start at approximately £16,000 per annum. With
the right experience, qualifications and skills you could progress to management roles and earn in
excess of £70,000 per annum. This does not include potential bonuses or additional benefits. Salaries
will vary considerably based on location and employer.
Tasks
 Producing monthly and quarterly financial reporting for internal funds
 Preparing periodic reports for the auditing of assigned funds
 Preparing valuations and transaction reports within defined deadlines
 Using accounting systems audit tools to ensure internal and external compliance controls are
being met
 Resolving accounting issues
 Verifying data with colleagues
 Communicating with other operations professionals
Skills
 Analytical
 Attention to detail/accuracy
 Problem solving ability
 Good planning and organisation skills
 Business communication and interpersonal skills
 Time management and ability to adjust priorities to meet reporting deadlines
 Confidence using IT and financial reporting documents
 Flexibility
 Awareness of accounting risk management issues
 Ability to work within a regulated environment and comply with set policies and procedures
 Teamwork approach to work and confidence drawing on specific departmental and colleague
expertise
Useful knowledge and experience
Employers will usually expect candidates to acquire knowledge in the following areas, through training
and relevant professional qualifications:
 Automated financial systems and accounting reporting programmes
 Regulatory deadlines and Financial Services Authority requirements
 Investment accounting and internal fund audit procedures
 Well-rounded knowledge of investment legal standards
Entry qualifications
Whilst there may be some opportunities to join in entry position, most positions are likely to be at an
experienced or graduate level. Any previous qualifications or experience in bookkeeping or general
accounting is always helpful. Individuals will need an understanding of numbers and to be able to
communicate with people and produce written reports.
For entry level positions, employers will require candidates to have either:

A Levels, Scottish Highers or equivalent qualifications such as Business, Administration and
Finance (BAF) Diploma, BTEC National Diploma, Welsh Baccalaureate (BAC), SVQ Level 3 or
Higher National Certificate (SCQF Level 7)

For graduate training schemes, usually ask for a 2:1 degree or higher.
Professional and higher qualifications
Many employers recommend and support investment accounting professionals in gaining a
professional qualification. Most relevant to this role are:
 Institute of Chartered Accountants of Scotland (ICAS)/Chartered Banker Institute Diploma in
Investment Accounting
 Chartered Institute for Securities & Investments (CISI) Level 3 Investment Operations Certificate
(IOC)
 ICMA Centre / University of Reading Operations Certificate Programme
 ICAEW (Institute of Chartered Accountants in England and Wales) Corporate Finance
qualification
Additionally, as this role has a major accounting function, employers may expect you to acquire a
relevant accountancy qualification from one of these professional bodies:
 (ICAEW) Institute of Chartered Accountants in England and Wales
 Association of Accounting Technicians (AAT)
 Association of Chartered Certified Accountants (ACCA)
 Chartered Institute of Management Accountants (CIMA)
 Institute of Chartered Accountants of Scotland (ICAS)
With several years’ experience, you may progress towards more advanced professional qualifications,
such as:


CISI Advanced Certificate Programme, with choices in Global Securities Operations and
Operational Risk
CISI Diploma or specialist Diploma in Investment Operations
UK and global opportunities
Investment accounting remains a vital role within financial services. Once experienced, there are
good opportunities to progress into managing or supervising people, or work towards attaining
Chartered Accountant status. As a qualified accounting technician, you’d be able to produce financial
reports and assist accountants with internal audits. Opportunities exist with investment management
companies, banks and third party fund administrators. Jobs can be found in major UK financial
centres, such as London, Manchester, Leeds, Edinburgh, Glasgow and Dundee.
Find out more
Association of Accounting Technicians – www.aat.co.uk
Association of Chartered Certified Accountants – www.acca.co.uk
Chartered Institute for Securities and Investment – www.cisi.org
Chartered Institute of Management Accountants – www.cimaglobal.com
Directions – www.directions.org.uk
ICAS/Chartered Banker Institute Diploma in Investment Accounting –
www.investmentaccounting.org.uk and www.chartedbanker.com
ICMA Centre/ Henley Business School University of Reading – www.icmacentre.ac.uk
Institute of Chartered Accountants of Ireland – www.charteredaccountants.ie
Institute of Chartered Accountants of Scotland – www.icas.org.uk
ICAEW (Institute of Chartered Accountants in England and Wales) – www.icaew.com/careers
Investment Management Association – www.investmentuk.org
Scottish Investment Operations – www.sio.org.uk
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