Oxford

CE
ACCOUNTANCY +
FINANCIAL SERVICES
The finance sector is vast and has demonstrated strong growth
in graduate opportunities in recent years. A range of skills
is needed including strong communication, analytical, and
problem-solving skills. Naturally, you also need to demonstrate
a high degree of comfort when working with numbers, although
not all roles require a numerate degree.
In all areas, graduate training contracts
frequently require trainees to study for a
professional qualification whilst working.
Many employers contribute towards the
cost and offer study leave as part of the
package. Accountancy training normally
takes 3 years, and Actuarial training 3 to
6 years.
ACCOUNTANCY: Accountants work in
varied roles across a broad range of services
and businesses, including advisory,
assurance, corporate finance and tax.
Opportunities exist at firms of all sizes,
including the ‘Big 4’ (Deloitte, EY, KPMG
and PwC), in both commercial and public
sector organisations. Accountants play a
key role in decision-making by providing
accurate financial information and analysis
to management. The larger organisations
have broadened their focus to
encompass strategic advisory service and
now have large management consultancy
practices as well. As such, organisations
are not just looking for ‘number-crunchers’,
but people with strong commercial
awareness, attention to detail and good
interpersonal skills.
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Chartered Accountants provide
professional advice to fee-paying
clients, small businesses, large
organisations and individuals –
in areas such as audit, financial
reporting, insolvency and
restructuring.
]]
Management Accountants usually
work in-house (although they can be
external) and their role is to advise an
organisation’s senior management
about the financial repercussions of
business decisions, and to monitor
corporate spending.
MORE INFORMATION
If you want to find out more about
this sector, visit:
www.careers.ox.ac.uk/acctuArial
ACTUARIAL WORK: Actuaries are risk
management experts who use their
mathematical skills to help measure the
probability and risk of future events.
The information they generate is used
by various industries – especially in the
Pensions, Insurance and Investment
sectors. Most graduates have a numerate
degree (eg, mathematics, statistics,
economics, physics, chemistry etc), but
students from other disciplines can take
the Certificate in Financial Mathematics
(CT1) exam to demonstrate their numerical
ability to prospective employers.
INSURANCE: Insurance is focused on
protecting the value of an individual’s
or organisation’s assets, and has huge
breadth, including Corporate Insurance,
Personal Insurance, Reinsurance,
and Life Assurance. Firms are similarly
diverse. Employers are generally open
to graduates of all degree disciplines,
although some employers have a preference
for numerate degrees. Other key
skills include strong attention to detail,
and strong communication – both written
and verbal.
GETTING IN AND
ENTRY POINTS
ACCOUNTANCY
Traditionally, the larger accounting firms
open graduate recruitment during the
summer in the year before graduation,
usually closing in December. Firms with
lower annual intake will typically start
recruitment later, with most opportunities
opening in Michaelmas Term of
the final year. Smaller companies often
have rolling recruitment and are worth
an early speculative approach. In 2014
and 2015, some bigger firms opened
a second, smaller round of recruitment
during Hilary term.
ACTUARIAL WORK
Application deadlines vary, so do your
research early, prepare applications well in
advance and keep looking at your target
websites.
INSURANCE
Graduate programmes will vary depending
on the size of firm and area of specialism,
so it’s important you do thorough research
on the organisation you are applying to
beforehand.
EXTRA-CURRICULAR IDEAS
+ + Demonstrate your interest in the sector
by becoming active in related student
societies – such as the Oxford Guild,
CapitOx and the Oxford Investment &
Finance Society.
+ + Show your financial acumen as
Treasurer for a society or JCR/MCR.
+ + Help run an event that makes a profit,
from fundraising to College Ball.
+ + Attend ‘Insight Days’ or ‘Spring Week’
programmes to understand the sector.
+ + Sign up for the ICAEW’s online
programme “The Importance of Money
in Business”.
“
Hugh Lailey
career advisor, The Career Service,
University of Oxford
When applying, investigate the
full range of possibilities and
find your niche. Once you’re
in, the training and skills you
develop will open up a myriad
of opportunities both within
the sector and outside because
every organisation needs to
manage its finances.
“
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