Background
Diversity, Equity and Inclusion are core principles at UNDP:ย we value diversity as an expression of the multiplicity of nations and cultures where we operate, we foster inclusion as a way of ensuring all personnel are empowered to contribute to our mission, and we ensure equity and fairness in all our actions. Taking a โleave no one behindโ approach to our diversity efforts means increasing representation of underserved populations. People who identify as belonging to marginalized or excluded populations are strongly encouraged to apply. Learn more about working at UNDP including our values and inspiring stories.
UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.
Organizational Context ย General Assembly Resolution 2186 (XXI) decided to โbring into operations the United Nations Capital Development Fund as an organ of the General Assembly which shall function as an autonomous organization of the United Nations. The UN Capital Development Fund (UNCDF) assists developing countries, especially least developing countries, in the development of their economies by supplementing existing sources of capital assistance by means of grants, loans, and guarantees. UNCDFs vision is to help mobilize and catalyze an increase of capital flows for SDG impactful investments to Member States to address the most pressing development challenges facing vulnerable communities in these countries and thereby contribute to sustainable economic growth and equitable prosperity.
UNCDF utilizes its unique capability in the UN system to deploy grants, loans and guarantees to crowd-in finance for the scaling of development impact. UNCDF focuses on where the needs are greatest, a deliberate focus and capability rooted in UNCDFโs unique investment mandate to support the achievement of the 2030 Agenda for Sustainable Development and the realization of the Doha Programme of Action for the least developed countries, 2022โ2031.
As per its Strategic Framework, UNCDF works to deploy its functions as a hybrid development organization and development finance institution. UNCDF responds to Member States requests for assistance by providing targeted technical and financial advisory services on investments for development outcomes, designing bespoke financial structuring solutions, undertaking financial derisking of investments, and enhancing investment readiness of SDG aligned projects in partnership with private sector, UNOs, International and Local Finance Institutions, Development Finance Institutions as well as Foundations and Philanthropy, among others. UNCDF works to develop local financial systems, new markets and mobilize and crowd in capital from public and private sources. UNCDF is driven by a partnership mindset which enables it to deploy its different capital capabilities in highly tailored and responsive ways in order to mobilize investments flows from other sources, in particular from the private sector. ย By structuring transactions which are highly impactful, but also recognize the need for multiplying the impact of its own capital, UNCDF seeks to position itself as a preferred partner for different stakeholders. ย UNCDFโs work is focused on six priority areas, including:
Sub-national and local infrastructure financing Women owned enterprise financing Nature and climate financingย Energy and decarbonization finance Sustainable food systems financing Inclusive digital financeFollowing a recent restructuring, UNCDFโs organizational set up includes an Investment and Implementation Division (IID), Investment and Finance Oversight Division (IFOD), Operations and Oversight Division (OOD) and a Directorate of the Executive Office. UNCDF staff and personnel are located in regional hubs based in Dakar (Senegal), Nairobi (Kenya) and Bangkok (Thailand) with sub-regional presence in a number of locations in the Caribbean and Pacific Regions. UNCDF is led by an Executive Secretary based out of New York. Pursuant to General Assembly resolution 2321(XXII, para 1.a), the Administrator of the UNDP performs the function of the Managing Director of UNCDF. UNCDF is overseen by the Executive Board of United Nations Development Programme (UNDP), United Nations Population Fund (UNFPA) and the United Nations Office for Project Services (UNOPS) and performs the function of the Executive Board of UNCDF.ย
Position Purpose
UNCDFโs Investment and Implementation Division contains personnel who have the responsibility to support client countries to access and unlock funds and finance to supplement existing resources to advance economic growth objectives. UNCDF personnel, supported by a second line of defense in the Investment and Finance Oversight Division and Operations and Oversight Division, works to deliver on the overall mission and vision of UNCDF with its resource mobilization and business development capabilities, oversight of project implementation, investment structuring and monitoring capabilities as well as learning and knowledge generation. Such operations focus on driving resource mobilization efforts to trigger increased mobilization of public and private capital flows to SDG-positive investments via programmes and projects that are funded by partners into sustainable businesses and projects in financially underserved and high-risk areas, especially in least developed countries, small island developing states and fragile contexts.
Under the overall direction of a Chief Investment Officer, and day to day guidance and supervision of the Regional Investment Team Lead, the Region-based Investment Specialist (RIS) will manage and oversee a portfolio of programmes, projects and transactions that are seeking to trigger increased mobilization of public and private capital flows to SDG-positive investments. The Specialists are responsible for the effective and efficient deployment of UNCDF`s financial instruments in line with the organization's capital mandate into investment structures that will crowd in and mobilize public and private capital flows to SDG-positive investments. Specialists will oversee the work of a portfolio of projects including Project Managers and project staff at the country level, and may also oversee the work of Regional Project Managers, if required.
To achieve various development objectives in projects and initiatives, UNCDF makes use of its toolbox of financial instruments, i.e. investment or development grants, guarantees and/or loans at zero or concessional financing terms and conditions to public and/or private sector stakeholders. The rationale behind the selection of the financial instrument, the quality of the assessment to be conducted, design, negotiation and the structure including the agreed terms and conditions, is to be prepared and carried out by the Investment and Implementation Divisionโs investment personnel, with oversight undertaken and approvals provided by UNCDFโs Investment and Finance Oversight Division and Operations and Oversight Division. To ensure quality and consistency across the organizationโs programmes, projects, and transactions, the RIO oversees and provides support across programmes, projects and transactions. The main tasks for the function are the following:
To work closely with the UNDS and other development partners in the design of SDG-aligned programmes, projects and transactions that develops markets in high-risk environments. To provide oversight and ensure quality and consistency in the design of programmes, projects and transactions involving assessment and the deployment of financial instruments in high-risk markets in the assigned region. To resource mobilize from public and private sector stakeholders (bilateral donors, foundations, philanthropic organizations) as well as mobilize co-financing (that UNCDF manages and/or works in parallel to) for country driven priorities on SME/MSMEs development, digital inclusive finance, sub-national infrastructure finance, nature, climate, energy, women owned enterprises and agriculture and food systems.ย To ensure programmes, projects and transactions deliver SDG compliant results and impact on the ground. To oversee and provide investment advisory support to project personnel implementing projects in the region. To provide support as needed in collaboration with the UNDS and other development partners with investment linked technical assistance.ย To conduct knowledge sharing sessions educating stakeholders on the benefits of blended finance in achieving development impact.ย To document, analyze and learn from portfolio of programmes, projects and transactions (i.e. investment operations) across the region and use this experience to help make the operations more efficient and effective.The Region-based Investment Specialist (RIS) position is based in Nairobi, Kenya, overseeing the development of country and/or regional (if required) programmes and projects that will raise funding that will, when used, crowd-in additional finance from public and private sources for investment opportunities with the objective to ย contribute to positive and scalable SDG outcomes. The role will require frequent travel. ย UNCDF staff may be periodically redeployed, in accordance with capability, consent, and due process, to a different regional hub or HQ as needed.
UNCDF adopts a portfolio approach to accommodate changing business needs and leverage linkages cross interventions to achieve its strategic goals. This is a recognition of the interconnected nature of development risks & crises that the world is facing and that calls for assembling of multidisciplinary teams for an integrated & systemic response. Therefore, UNCDF personnel are expected to work across issues, units, functions, teams and projects in multidisciplinary teams to enhance and enable horizontal collaboration.
Duties and Responsibilities1. Provision of Portfolio Development and Investment Advisory Support Builds a strong brand recognition of UNCDFโs work to support high risk markets to crowd in public and private investment for SDG compliant economic development and growth. Conducts oversight and leads on the sourcing, design, development and implementation of programmes, projects and/or transactions financed through grants, loans (zero or concessional), and guarantees in line with UNCDFโs Strategic Framework including vision and mission statement, investment principles and risk appetite. Provides strategic guidance to clients (partner governments, funders and financiers, UNCDF/UN Development System staff and personnel) about the investment structures that will crowd in public and private sector co-financing in high-risk, neglected markets including the optimum selection of financial instruments. Delivers high quality thought leadership and services including, when necessary, provision of implementation support, when monitoring and follow-up on programmes, projects and transactions seeking to crowd in public and private finance for SDG compliant economic development and growth.ย Maintains technical rigor of the design, including underlying investment thesis, in concepts, proposals and/or UNCDFโs project documents in collaboration with UNCDFโs Thematic leads, the Regional Investment Team Lead and other colleagues at UNCDF, in adherence to UNCDFโs policies and procedures. Provides advisory to project-based investment personnel on how the investment operations can support, and benefit from investment-linked technical assistance, market development and policy reform work. Provides advisory to project-based investment personnel to assess a companyโs financial performance (such as balance sheet, income statement, cash flow and key financial ratios) of the prospective investee, as needed. Oversees the design and structure of the proposed investment transactions, so it is appropriately suited to achieve measurable and verifiable development impact including risk assessment and management. Negotiates adequate financing terms and conditions for loans and guarantees with target clients in line with guidance from the Regional Investment Lead and Chief Investment Officer.ย Provides advisory to programmes and/or projects to structure investment transactions that integrate blended finance models with the objective of maximizing the potential of commercial co-financing for additional development impact. Guides end-to-end (cradle to grave) investment process and advises the transaction team when presenting to UNCDFโs investment committee.ย Sources and identifies investment talent to successfully implement country led projects in line with UNCDF policies and procedures.
2. Build Strategic Partnerships and Resource Mobilization
Delivers on dedicated targets within UNCDFโs Resource Mobilization support to Member States in line with objectives and targets of UNCDFโs Strategic Framework and associated regular 4-year business plans, under the direction of the Regional Investment Team Lead and Global Thematic Leads (as appropriate). Identifies investment needs and opportunities to crowd-in capital for country-led priorities with Government counterparts, investment community, and relevant colleagues within the UN Development System. Secures grant resources from bilateral donors, philanthropy, foundations and others, along with mobilizing co-financing from impact investors and other stakeholders to enable UNCDF deliver on the objectives of itsโ Strategic Framework and associated four-year business plan. Develops strategic partnerships with relevant stakeholders to advance corporate strategic objectives as well as transaction-level needs in line with UNCDFโs vision and mission statement under the guidance of the Regional Investment Lead and Chief Investment Officer.3. Ensure Portfolio Management and Oversight
Conducts first level oversight of a portfolio of programmes, projects, and transactions under the management of UNCDFโs Investment and Implementation Division, including the oversight of investment operations in programmes, projects, and transactions to ensure the policies, processes, and rules which regulate the use of UNCDFโs financial instruments are strictly adhered to. Responsible for the oversight and timely achievement of finance delivery and impact targets as per annual work plans of a portfolio of programmes, projects and transactions.ย Maintains quality of the portfolio in line with policies and procedures that UNCDF is obligated to follow. Undertakes high quality management of a portfolio of programmes, projects, and transactions that aligns with the objectives and targets of UNCDFโs Strategic Framework and associated regular 4-year business plans, under the direction of the Regional Investment Team Lead and Global Thematic Lead (as appropriate). Monitors and maintains the technical quality of services performed by project staff working to deliver on results and impact of UNCDF designed initiatives.ย Demonstrates project management leadership in working in predictive, hybrid or agile environments. Provides support to the management of non-performing programmes, projects and/or transactions including assessing whether such initiatives should continue or be operationally terminated.ย Complies with deadlines established by the organization for the effective management of a portfolio of programmes, projects and transactions. Complies with safeguards requirements and monitoring/reporting obligations of partners and UNCDF. Monitors and manages risks bi-monthly in the portfolio of programmes, projects and transactions by updating risk mitigation measures and monitoring in UNCDFโs IT system, coordinating with the UNCDF corporate risk management team, the corporate investment portfolio manager and timely escalation of risks to Senior Managers within UNCDF. Ensures excellence in exercising compliance with UNCDF policies and processes and ensures technical oversight of projects and programmes.ย Liaises with IFOD that conducts UNCDFโs 2nd level due diligence checks to ensure quality and consistency is coherent across UNCDFโs portfolio of programmes, projects and transactions.ย Support corporate needs when required including audits, impact evaluations and engagement with member states and other partners.4. Facilitate Knowledge Management and Advocacy
Supports the Regional Investment Team Leads in the engagement with partners including the UN Development System, key donors and client countries. Supports UNCDFโs global or regional communication team in the preparation of knowledge products and communication materials (e.g. blogs, articles, publications, video-essays, etc.) based on learnings from the design and/or implementation phase of investment programmes, projects and transactions. Coordinates and maintains high quality documentation of progress, performance and lessons learnt from UNCDFs investment process and operations. Trains project staff on the understanding of UNCDFโs investment process, the appropriate use of financial instruments, and proper integration of blended finance models in the design of transactions and/or projects. Promote improved approaches to ensure that the lessons learnt from UNCDFโs investment and transactional work are documented and disseminated. When required by the Regional Investment Team Lead, represents UNCDF in the broader market helping to highlight UNCDFโs capabilities with a wide range of stakeholders, including UN agencies, Government, Private Sector, Global and Regional Multilateral Development Banks, Development Finance Institutions, Philanthropy and Foundations as well as Civil Societies and International Non-Governmental Organizations. Stays up to date on the international debate on the use of financial instruments and investment structures in the development finance community especially as it relates to blended finance in high-risk markets. Develop training material and conduct knowledge sharing sessions with UNDS in the use of UNCDFโs financial instruments.The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the country/regional Office and the Organization.
Supervisory/Managerial Responsibilities: Supervision, development and performance management of IPSAs and Project Managers. Competencies
Core Competencies
Achieve Results: LEVEL 3
Set and align challenging, achievable objectives for multiple projects, have lasting impact
Think Innovatively: LEVEL 3
Proactively mitigate potential risks, develop new ideas to solve complex problems
Learn Continuously: LEVEL 3
Create and act on opportunities to expand horizons, diversify experiences
Adapt with Agility: LEVEL 3
Proactively initiate and champion change, manage multiple competing demands
Act with Determination: LEVEL 3
Think beyond immediate task/barriers and take action to achieve greater results
Engage and Partner: LEVEL 3
Political savvy, navigate complex landscape, champion inter-agency collaboration
Enable Diversity and Inclusion: LEVEL 3
Appreciate benefits of diverse workforce and champion inclusivity
People Management
UNDP People Management Competencies can be found in the dedicatedย site.ย
Cross-Functional & Technical competencies
Business Direction & Strategy: Strategic Thinkingย ย ย ย
Develop effective strategies and prioritized plans in line with UNDPโs mission and objectives, based on the systemic analysis of challenges, opportunities and potential risks; link the general vision to reality on the ground to create tangible targeted solutions; learn from a variety of sources to anticipate and effectively respond to both current and future trends; demonstrate foresight.Business Direction & Strategy: System Thinkingย ย ย ย
Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system.Business Management: Portfolio Managementย ย ย ย
Ability to select, prioritize and control the organization's programmes and projects in line with its strategic objectives and capacity. Ability to balance the implementation of change initiatives with regular activities for optimal return on investment. Knowledge and understanding of key principles of project, programme, and portfolio managementPartnership Management: Relationship managementย ย ย ย
Ability to engage with a wide range of public and private partners, build, sustain and/or strengthen working relations, trust and mutual understanding.Business Management: Communicationย ย ย ย
Ability to communicate in a clear, concise and unambiguous manner both through written and verbal communication; to tailor messages and choose communication methods depending on the audience.ย Ability to manage communications internally and externally, through media, social media and other appropriate channels.Ethics: Ethical Implication of Policy Developmentย ย ย ย
Consult on the ethical implications within all policy development and standard setting.Business Direction and Strategy: Futures & foresightย ย ย ย
Ability to look at information from the past and present, identify patterns and trends and use them to inform decision making with a long-term view. Being sensitive and able to scan horizons and pick up weak signals of change, explore their potential implications and assess their impact and urgency. Using creativity and imagination to communicate insights in compelling and engaging ways to challenge current mental models; ability to develop scenarios, speculative designs to present future visions or by making it experiential. Being able to facilitate debate and discussion about possible futures; help people to feel comfortable with the discomfort of uncertainty. Required Skills and ExperienceEducation: Advanced university degree (masterโs degree or equivalent) in Economics, Finance, Business Administration, or relevant related field is required, OR A first-level university degree (bachelorโs degree) in the areas mentioned above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree. Chartered Financial Analyst (CFA) diploma, ACCA, CPA, PMP, or similar, is a distinct advantage. Experience: ย A minimum of 7 years (with a masterโs degree) or 9 years (with a bachelorโs degree) in either the financial sector or the private sector, or a mix, with investment and/or business management experience is required.ย Experience working in venture capital and/or banking within an international financial environment, preferably in a development finance institution, impact investor or similar, is highly preferable. Experience in private credit, debt and/or equity for investments with a social mission in emerging/frontier markets, is highly preferable. Experienced from advanced financial modelling and/or preparing project finance transactions is an asset. Experience in project preparation and/or in development of investment opportunities, especially for projects in developing countries across multiple sectors is required.ย Comprehensive understanding and experience in the project management cycle and managing results is required. Demonstrated experience and knowledge of UNCDF and/or UNDP programming and project management policies is desired. Experience in international organizations, ideally in the field of development, is a major advantage. Experience in managing complex and diverse teams that are geographically dispersed is an advantage.ย Previous experience working in emerging markets/LDCs context is highly desirable. Strong IT skills, including ability to work regularly with business intelligence visualization tools is an asset.
Language Requirement:
Fluency in English is required.ย Working knowledge of another UN language, in particular French, would be an asset. Disclaimer ย Important information for US Permanent Residents ('Green Card' holders)ยUnder US immigration law, acceptance of a staff position with UNDP, an international organization, may have significant implications for US Permanent Residents. UNDP advises applicants for all professional level posts that they must relinquish their US Permanent Resident status and accept a G-4 visa, or have submitted a valid application for US citizenship prior to commencement of employment.ย
UNDP is not in a position to provide advice or assistance on applying for US citizenship and therefore applicants are advised to seek the advice of competent immigration lawyers regarding any applications. ย Applicant information about UNDP rosters ย Note: UNDP reserves the right to select one or more candidates from this vacancy announcement.ย We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements. ย Non-discrimination ย UNDP has a zero-tolerance policy towards sexual exploitation and misconduct, sexual harassment, and abuse of authority. All selected candidates will, therefore, undergo rigorous reference and background checks, and will be expected to adhere to these standards and principles.ย ย ย UNDP is an equal opportunity and inclusive employer that does not discriminate based on race, sex, gender identity, religion, nationality, ethnic origin, sexual orientation, disability, pregnancy, age, language, social origin or other status.ย ย Scam warning ย The United Nations does not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it. Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced. Therefore, you are advised to apply particular care when submitting personal information on the web.