Climate Change Risk and Sustainable Finance Regulation IC (URF))

Please note that the deadline is based on Korean Standard Time Zone (KST, UTC+9)

INTRODUCTION TO GGGI

The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page. 

General Information

• Project: Promoting Green Finance and Climate Risk Management in Colombia; Output: CO043-E1-3

• Duty Station: Bogotá (COL)

• Contract Duration: 13/01/2026 - 29/05/2026

• Number of Workdays Estimated (internal purpose only): 90 days

• Consultant Level: L3

• Total Fees: $18.000 USD

In recent years, Colombia has taken important steps to green its financial sector, with the development of a national green taxonomy, the introduction of sustainability reporting initiatives, and the integration of climate-related risks into supervisory frameworks such as SARAS. Despite this progress, significant gaps remain in translating international standards—such as IFRS S1/S2 and the Taskforce on Nature-related Financial Disclosures (TNFD)—into actionable national regulations and supervisory tools.

Under the UK PACT-funded project “Promoting Green Finance and Climate Risk Management in Colombia”, the Global Green Growth Institute (GGGI) is supporting regulatory authorities in aligning Colombia’s financial system with evolving international frameworks. The project provides technical assistance to strengthen the management of climate- and nature-related risks and to ensure that Colombia’s regulatory architecture enables sustainable financial flows that contribute to biodiversity conservation and climate resilience.

A critical component of the project involves supporting the Financial Superintendency of Colombia (SFC) and the Ministry of Finance in reviewing and updating existing regulatory instruments—such as SARAS and sustainability disclosure requirements—to reflect global best practices. This includes leveraging the findings of Colombia’s upcoming stress test on climate and nature risks and identifying regulatory entry points for mainstreaming ESG, climate, and biodiversity considerations across financial policies.

To support this process, GGGI seeks a high-level consultant with deep expertise in financial regulation and public policy to advise on the alignment of national regulations with emerging sustainability standards. This assignment will directly contribute to enhancing Colombia’s regulatory readiness and sector-wide adoption of climate and nature risk management practices. 

The consultant will provide high-level technical and regulatory support to the Unidad de Regulación Financiera (URF) to develop policy and regulatory options that integrate climate-related financial risks and environmental accounting principles into Colombia’s prudential and market-regulation frameworks.

The assignment will be fully aligned with the project’s three core outputs: the Gap Assessment on Regulatory Alignment with IFRS S1/S2, TNFD standards, and the Climate/Nature Stress Test (Output 1), which provides the analytical and risk evidence base; the Regulatory Recommendations and Roadmap to Align Colombia’s Financial Sector Regulations with IFRS S1/S2 and TNFD Standards (Output 2), which defines the sequence for regulatory reform; and the component on Capacity-building and technical guidelines on climate, nature and GEDSI-related risks (Output 3), to which this consultancy directly contributes. Through this alignment, the consultancy will support regulatory coherence and coordinated action across URF, SFC, MinHacienda, CTCP and financial-sector associations, strengthening Colombia’s readiness to manage climate- and nature-related financial risks.

This includes:

• Assess the current regulatory framework under URF’s mandate in relation to: i) prudential standards, capital requirements, and risk management, identifying gaps and opportunities to incorporate climate-related financial risks in alignment with Basel III/IV, NGFS recommendations, among other relevant standards; and ii) capital markets in regard to sustainable investment frameworks, issuance standards, and corporate governance, considering emerging markets and jurisdictions.

• Design regulatory and policy recommendations for a Financial Regulation Adapted to Climate Change, covering prudential, governance, and investment dimensions, and proposing differentiated approaches for banking, insurance, and capital market institutions.

• Prepare evidence-based documents and presentations to support country-level discussions and submission of proposals before the URF Council by April–May 2026. 

Reporting Arrangements

The consultant will report directly to the Sustainable Finance Senior Officer at GGGI Colombia. Progress will be monitored through weekly meetings and coordination calls with the GGGI team, as well as periodic technical exchanges with the URF. All deliverables must be submitted in Spanish, accompanied by an executive summary in English. Editable files and technical annexes must be uploaded to GGGI’s SharePoint system.

The Global Green Growth Institute ("GGGI") is committed to transparency, accountability, and openness in the organization. In case of any doubt, please refer to our Whistleblower policy in the link:  http://gggi.org/site/assets/uploads/2017/11/Whistleblower-Policy_02072015.pdf

Academic qualifications

Master’s degree in Law, Public Policy, Finance, Economics, or related fields; or equivalent combination of relevant education and experience.

Professional Experience

• At least 5 years of experience in financial regulation, prudential policy, or sustainable finance.

• Demonstrated experience with financial regulatory or supervisory authorities in Colombia (URF, SFC, MinHacienda, Banco de la República) or in Latin America.

• Knowledge of Basel prudential frameworks, NGFS climate risk principles, or other related international standards.

• Experience in climate-related financial regulation, with an emphasis in prudential standards and/or capital markets.

Competencies:

• Strong analytical, conceptual and policy-drafting skills.

• Excellent coordination, communication and stakeholder-engagement abilities across government, regulatory entities and financial-sector actors.

• Proven capacity to work independently, manage multiple tasks simultaneously and deliver high-quality outputs under tight timelines.

• Proficiency in data analysis and the use of relevant analytical tools or software required for regulatory and financial-sector assessments.

• Bilingual proficiency in Spanish and English (written and oral).

• Familiarity with GEDSI principles is considered an asset.

• Selection method / process: Competitive

• Timeline of the selection: 15 days

 Please note that the deadline is based on Korean Standard Time (KST). Applications submitted after the deadline will not be considered Application. Cover Letter, and CV must be sent in English.  

GGGI as an institution abides by its project-level Sustainability and Safeguards Rules (SSR) for all projects aligned with international standards for Environmental and Social Safeguards. The SSR is aligned with commonly recognized international standards for Environmental and Social Safeguards (ESS), i.e. the WB Performance Standard, that ensure project level safeguarding of communities and people impacted by GGGI activities. GGGI has integrated project level Environmental and Social Safeguards into its Project Cycle Management (PCM) with mandatory Preliminary Gender and Social Assessments and ESS Screening of all projects to identify and manage risks.

In addition, GGGI's Gender Equality and Social Inclusion Strategy 2021-2025 provides a framework toward achieving the principle of "Leaving No One Behind" in the transformation towards green growth, guiding GGGI's approaches to the mainstreaming of gender equality and poverty reduction in GGGI Colombia's Program. This also includes the implementation of the GGGI Gender Equality and Poverty Reduction Policy Markers on all projects. GGGI's Corporate Results Framework requires gender disaggregated indicators for participation in GGGI Capacity Building events.

GGGI's Child Protection Rules and GGGI Rules on Sexual Exploitation ensure safeguarding of children impacted by GGGI activities or in contact with GGGI contracted personnel, with GGGI taking a zero-tolerance approach to child exploitation. GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI's Child Protection Policy is written in accordance with the Convention on the Rights of the Child. All procedures mentioned above are accompanied by guidelines and capacity building efforts. GGGI also provides a work environment that reflects the values of gender equality, teamwork, embracing diversity in all its forms, integrity and a healthy balance of work and life. We are committed to maintaining our balanced gender distribution and therefore encourage women to apply. GGGI promotes equal opportunities for all people with disabilities.

All GGGI's policies are available for open consultation under the following link: https://gggi.org/policy-documents/