Grade: IS-5
Deadline: 02 July 2023 (11:59 PM KST)
Job Category: International
Salary: USD 138,750 net (plus attractive benefits), that include the following allowances (as applicable): Relocation, housing, dependency, education assistance and home country travel)
Introduction
The mission of the Green Climate Fund is to assist developing countries to respond to climate change while bringing prosperity to their people.
Established in 2010, the GCF invests in transformational climate projects in the developing world. The Fund makes an ambitious contribution to global climate action and channels significant financial resources into developing countries to help build low-emission and climate-resilient societies. It is country-driven and undertakes actions that reflect the circumstances of each country concerned and its national aspirations. The GCF is a key enabler of the 2015 Paris Agreement on Climate Change.
Since its establishment, the GCF has approved 216 projects in 129 countries and has committed USD 12.0 billion in climate finance. In addition, it has built up an extensive program to support developing countries to identify their needs, in particular, those who are most vulnerable to climate change impacts.
The GCFโs diverse workforce is advancing its mission from its headquarters in South Korea. Our talented staff makes unique contributions to the Fund, enriching the institution through their combined expertise and professional commitment.
Position Objective
The Senior Investment Specialist - Financial Structuring, reporting to the Director of Private Sector Facility, works collaboratively and independently across the division and is responsible for developing innovative financing structures tomobilize private capital for climate impact in developing countries. The successful candidate will be responsible for institutionalizing industry best practice modelling and other analytical frameworks for use within PSF, as well as provide expert guidance to internal and external stakeholders on efficient financial structures for use of GCF catalytic funds for private capital mobilization. S/he works with GCF partners, including local private sector actors and direct access entities to support development of high-quality private sector proposals for accessing GCF resources. S/he will liaise with internal domain experts and help develop GCF knowledge and expertise in innovative financial structuring.
Duties and Responsibilities
Purpose
- Lead the development of innovative financing structures such as capital markets funding, structured products including green bonds, guarantees and equity market instruments (such as indirect equity investments as well as direct equity investments both for investment platforms and in individual projects) for private sector proposals.
- Develop PSFโs overall expertise in structuring catalytic de-risking approaches including but not limited to credit risk guaranties, revenue or performance guarantees, first loss structures, and other de-risking approaches.
- Collaborate effectively with MDBs and other climate funds to develop models and methodologies for effective financial structuring for climate projects for the private sector.
- Develop training on financial structuring models for internal as well as external stakeholders.
Engagement
- Persuade domain-level specialists including risk, legal, environment and social safeguards and gender within GCF to obtain their specific inputs on Funding Proposals and work with third-party advisors and consultants as required to deliver in corporate goals;
- Motivate PSF climate investment team members to apply best practices in financial and economic modelling for financial structuring of proposals.
- Collaborate effectively with the Division of Portfolio Management to strengthen learning loops on proposal structuring and facilitate efficient portfolio implementation and management.
- Conduct market research, data collection and analysis of financial model to guide Accredited Entities (AEs) in strategic utilization of GCFโs financial instruments for proposed projects.
Deliver
- Establish internal checks and controls (within PSF) in proposal reviews and assessments including the funding proposal, term sheet and funding activity agreement in a timely manner prior to presentation to GCFโs Climate Investment Committee of independent Technical Advisory Panel to the Board.
- Develop new pipeline to increase the effectiveness of the Fundโs engagement with the private sector.
- Deliver high quality, continuous training to internal and external stakeholders on financial structuring for GCF proposals to ensure smooth and expeditious process with Accredited Entities, developer(s) and other stakeholders, as well as with GCFโs interdivisional task teams.
Requirements (Education, experience, technical competencies required of the job)
- Masters level in finance, CFA, economics, or related fields; or Bachelorโs degree and 2 additional years of relevant work experience. Relevant certifications for investment /banking /climate investment will be considered an advantage;
- A minimum of 11+ years of relevant work experience in climate finance, investment management and or, investment advisory. Multi-regional regional and international investment experience would be advantageous. ;
- Strong project lead/management skills with the ability to identify, engage and work with different stakeholders across private and public sectors, GCF accredited entities, institutional investors, regulators, banks and other intermediaries;
- Transaction experience in structuring and restructuring comprehensive solutions across financial products using guarantees, debt, equity, securitization;
- Experience in working on investment projects through an established approval process; negotiating term sheets, analyzing financial statements, private placement memorandums, limited partnership documents, private equity regulatory requirements and compliance;
- Experience in building and managing intricate financial models, drafting and negotiating contracts and approval notes for investment and credit committees;
- Experience in identifying and managing risks associated with projects and programmes;
- Knowledge of the evolving landscape in climate change and international development is essential;
- Strong track record of working within cross functional teams to structure, drive and close deals;
- Delivery- and results-driven;
- Ability to take initiative and thrive in rapidly changing environment;
- Team player who actively collaborates with peers within the team and has the ability to coach and mentor junior team members;
- Knowledge and experience of engaging with institutional investors and financial institutions;
- Excellent communication skills including oral, writing and presentation in English. Knowledge of another UN language will be an advantage.
The closing date for application is 02 July 2023. Applications submitted after the deadline may not be considered.
*The person assessed by the Selection Panel as most suitable for the position will be proposed for appointment. Selection among short-listed candidates will also take into account performance at interview, appropriate testing, and references.
Applications from women and nationals of developing countries are strongly encouraged.