Financial Institutions Specialist
Financial Institutions Specialist Grade IS – 3 Specialist Duty station Songdo, Incheon - Korea Contract type 3 years Number of posts 1 Recruitment type International
Unit Private Sector Facility Closing date 27 July 2017 Reporting to Director of Private Sector Facility Vacancy code GCF/Recruit/203 The Green Climate Fund (“the Fund”) is a new multilateral fund created to make a significant and ambitious contribution to the global efforts towards attaining the goals set by the international community to combat climate change.
The Fund will contribute to the achievement of the ultimate objective of the United Nations Framework Convention on Climate Change (UNFCCC). In the context of sustainable development, the Fund will promote the paradigm shift towards low-emission and climate-resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change, considering the needs of those developing countries particularly vulnerable to the adverse effects of climate change. The Fund will pursue a country-driven approach in its operations.
The Fund is governed by a Board, composed of an equal representation of developed and developing countries; the Board oversees the operation of all relevant components of the Fund. The Fund is serviced by an independent Secretariat, which is accountable to the Board and headed by an Executive Director. The Secretariat, which is accountable to the Board, is responsible for the day -to-day management of the Fund, and is located at the Fund’s headquarters in Songdo, Incheon City, in the Republic of Korea.
The Fund is seeking an exceptional person who will take up the challenge of joining a high-performing organization at the leading edge of the financing of climate action in developing countries.
The Fund’s business model is to invest in climate change mitigation and adaptation projects and programmes in developing countries through international/regional/local accredited entities that will act as the Fund’s agent. The Financial Institutions Specialist will be responsible for originating, developing and executing private sector climate change projects mainly through/with financial institutions. S/he will be responsible for proposin g innovative solutions for partnering with financial institutions in developing countries, in order to roll out targeted financial products that foster and support low -emission and climate-resilient investments by private sector actors, including micro-, small- and medium-sized enterprises.Duties and responsibilities
The Financial Institutions Specialist will be responsible for:
• Provide expert knowledge about best practices for institutional performance by financial intermediaries, including the financial analysis and assessment of their business model, ranging from international commercial banks to local micro-finance institutions, among others;
• Develop new opportunities and strategies in the targeted region, including targeting potential investors and promoting GCF’s products and services proactively; identify key risks associated with such new projects through anticipating market trends and employing financial sector/country knowledge;
• Perform fundamental market, credit and risk analysis of various types of banking and non -banking financial institutions, microfinance institutions, sovereigns, government -related-entities, emergin g market corporates, etc.;
• Monitor market trend closely and recommend follow up and proactive support to enhance the investee company's value/ franchise;
• Gain market intelligence on trends of climate change financing by financial institutions, understandin g the possible usage of concessional funds as incentives for catalyzing scale and innovation;
• Identify, develop and process FI project/programmes to be considered for financing up to Board approval and financial closure; Perform the necessary due diligence, financial modeling, risk analysis and mitigation in the FI project/programmes;
• Conduct the internal approvals process including interface with risk, safeguards, legal and other team as well as external advisory groups, senior management and the Board;
• Targeted outreach and dialogue with financial sector stakeholders to raise the level of awareness and commitment by financial intermediaries to develop low - emission and climate-resilient financial solutions for all economic actors, and across developing cou ntries, with special attention to small island developing States and least developed countries;
• Manage pipelines, deal sourcing mechanisms and processes; and
• Develop and draft business plans, policies and procedures as they pertain to FI programmes. Expected experience and qualifications*
• Master’s degree in Finance, Economics, Business or related field;
• At least 7 years of work experience in analyzing commercial investment banking, corporate banking, portfolio management of the financials or insurance; and
• At least 3 years of work experience with developing countries financial institutions Groups (FIGs) sector or institutions;
• Experience in conducting credit and risk analysis on various types of banking and non -banking financial institutions, sovereigns, and government related entities, is essential;
• Proven work experience in structuring financial products in or with financial institutions, including for investments, credit, and risk management in sectors and areas relevant for climate change mitigation and adaptation;
• Knowledge of the evolving landscape in climate finance is essential;
• Experience in various areas of finance, particularly in an international financial institution with emerging markets presence, is desirable;
• Strong skills in evaluation of risk an d ability to anticipate short and long term implications of decisions; experience in portfolio/risk management;
• Experience in structuring deals with development banks will be favorably considered; • Experience in building and managing intricate financial mod els, drafting and negotiating contracts, and drafting approval notes for investment and credit committees;
• Experience in identifying and managing risks associated with projects and programmes; • Knowledge and previous experience working with rating agencies(S&P, Moody’s, Fitch) to analyze emerging market corporate and financial institution profiles using various rating methodologies;
• Strong track record of working within cross functional teams to structure, drive and close deals; • Passion about delivery and focus on results;
• Ability to take initiative, embrace and adapt to change; • Team player who actively collaborates with peers within the team and has the ability to coach and mentor junior team members; and
• Excellent written and oral communication skills in English are essential for this position; knowledge of
another UN language an advantage.
*The person assessed by the Selection Panel as most suitable for the position will be proposed for appointment. The
above criteria should be seen as indicators of the experience and skills that would qualify candidates for
consideration. Selection among short -listed candidates will also take into account performance at interview,
appropriate testing, and references.
• Planning & organizing
How to apply
Interested candidates are requested to send their CV and a letter of interest in a single PDF file to:
File name: “[last name], [first name]” (e.g. Peterson, Anna)
Subject line: “Financial Institutions Specialist”
Upon submission of your application, you will receive an automatic e -mail acknowledging receipt of your
application. Should you not receive a response, however, please check your spam/clutter mail before resubmitting
your application. Please also ensure to use the correct spelling for the subject line of your e-mail. Thank you.
Applications from women and nationals of developing countries are strongly encouraged.