Ros Altmann will take up a key position at the centre of government after the Conservatives' election win was confirmed on Friday afternoon.
Ms Altmann will sit as minister with responsibility for financial consumer protection and financial education. Her appointment, announced during the campaign, was dependent on the Conservatives forming the next government.
Home Secretary Theresa May gave the keynote speech at Bnei Akiva's Yom Ha'aztmaut event.
The Conservative minister spoke about Israel's technological successes and the country's relationship with Britain.
She told an audience at Finchley United Synagogue about her hopes for peace in the Middle East.