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Restructuring Specialist - Funded Activities

Korea (Korea (Republic of))

  • Organization: GCF - Green Climate Fund
  • Location: Korea (Korea (Republic of))
  • Grade: IS - 4 - Mid level
  • Occupational Groups:
    • Economics
    • Banking and Finance
    • Environment
  • Closing Date: 2019-11-27

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Restructuring Specialist - Funded Activities

Date: Oct 4, 2019

 

Location:Korea (KOR), KR

Company: Green Climate Fund

Grade: IS - 4

Deadline: 25 October 2019 (11:59 PM KST)

The mission of the Green Climate Fund is to assist developing countries to respond to climate change while bringing prosperity to their peoples.

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 which 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 102 projects and has committed USD 5.0 billion in climate finance. In addition, it has built up an extensive program to support developing countries identify their needs, in particular those who are most vulnerable to climate change impacts.

The GCF’s diverse workforce is advancing its mission from its headquarters in South Korea. Our talented staff make unique contributions to the Fund, enriching the institution through their combined expertise and professional commitment.

Position description

The Office of Portfolio Management (OPM) of the Green Climate Fund Secretariat is organized into three workstreams: Quality assurance and M&E(QAM), Portfolio implementation monitoring and management (PIMM) and Results and Data management (RDM).    

The PIMM workstream plays an important role in ensuring that the portfolio of approved GCF projects is implemented efficiently and effectively in accordance with the Fund’s policies as well as approved terms and conditions. It is also responsible for ensuring adequate and timely reporting and assessment of implementation progress and results from the Fund’s investments as well as for proactively working with Accredited Entities (AEs), National Designated Agencies (NDAs)/Focal Points and other stakeholders to resolve implementation challenges and mitigate identified risks.  

OPM is seeking an experienced Restructuring Specialist to join the PIMM team in order to strengthen the monitoring and restructuring of (problematic) Funded Activities as may be required. The Specialist will play an active role in portfolio management activities and interact closely with various stakeholders including NDAs, AEs, Fund agents as well as colleagues within OPM and other divisions of the GCF Secretariat. 

Under the guidance of the Senior Portfolio Management Specialist, the Restructuring Specialist will make a crucial contribution to the efficient and effective management of GCF’s portfolio. S/he will be responsible for leading the restructuring of Funded Activities under OPM in close collaboration with Portfolio Management Specialists as well as with other sector, legal, environmental and social safeguards, risk and finance specialists. S/he will also contribute to and lead the establishment, review and refinement of frameworks, policies, and guidelines relevant to portfolio management as may be required. S/he will also contribute to knowledge management through the development of case studies, documentation of best practices and lessons learned.

Purpose

  • Lead the restructuring and processing of Major Change requests for Funded Activities to resolve implementation challenges. This will include presenting and defending restructuring and Major Change proposals to various internal committees and ultimately to the Board as appropriate;  

  • Lead the revision of documentation, including legal agreements, for restructured and Major Changes in Funded Activities to reflect the changes in project structure as well as in terms and conditions;

  • Proactively OPM management and  GCF senior management on appropriate corrective measures and approaches to address emerging implementation challenges in Funded Activities to improve portfolio implementation performance and results;   

  • Lead, coordinate and contribute to updating and improving the portfolio management functions, strategies, and approaches for managing the projects’ portfolio in particular related to strengthening and standardizing, restructuring/work-out operating procedures and processes in response to evolving and varied institutional and client needs and contexts.

Engagement 

  • Build, manage and strengthen relations with Secretariat colleagues and external stakeholders including AEs to ensure timely identification, guidance and resolution of implementation challenges as well as sharing of information, lessons and best practices; 

  • Coordinate gathering and review of requisite information and inputs from AEs, Secretariat colleagues and committees to facilitate processing, evaluation and decisions relating to requests for restructuring of/Major Changes in Funded Activities the Secretariat;

  • Position, represent OPM and participate in Secretariat-wide initiatives, internal committees/working groups as well as represent the Fund in external engagement, including conferences and meetings in order to exchange information, best practices and lessons learnt;  

Delivery

  • Provide advice, implement and follow-up on tailored approaches to monitoring and review of Funded Activities in order to proactively identify risks and determine appropriate actions to resolve emerging problems;  

  • Lead and coordinate timely internal review and assessments of restructuring, Major Change requests, waivers, extensions and amendments of projects in the assigned portfolio to optimize Fund impact and ensure cost effectiveness and efficiency while managing project risks;

  • Contribute to documentation of case studies to showcase successes, lessons learned and best practices to inform and improve portfolio selection, implementation and evaluation of GCF projects as well as Fund’s responsiveness and risk mitigation measures;  

  • Guide and mentor to junior members of the team and, including, contributing to hiring processes of consultants and interns.

Required experience and qualifications*

  • Advanced university degree in economics, environmental studies, business administration, finance, or other relevant field;  
  • At least 9 years of solid experience in designing and implementing public and private sector projects including complex projects;

  • Solid experience designing and implementing/monitoring projects using different instruments i.e. loans, grants, guarantees and equity; 

  • Experience in workouts and restructuring of projects/ programs is a distinct advantage;

  • Demonstrated experience in structuring projects and close transactions including handling negotiations in challenging/sensitive contexts;  

  • Exposure experience in international organizations or multilateral development banks is an advantage;  

  • Exposure to climate change financing and knowledge of GCF working modalities is an added advantage; 

  • Ability to structure projects and close transactions;

  • General understanding of the Fund’s instruments (grants, loans, guarantees and equity) and sectorial investment areas;  

  • Excellent problem-solving and negotiation skills as well as an ability to work under pressure and tight deadlines; 

  • Knowledge of the operational framework and fiduciary standards of international public sector institutions;  

  • Proven relationship management and interpersonal skills complemented by excellent ability to articulate and present ideas well both in writing and orally to a diverse audience of stakeholders at technical and strategic levels; 

  • Ability to work in a multicultural environment with diverse stakeholders at different technical and strategic levels– staff, Board and external stakeholders;  

  • Excellent analytical, structuring and problem-solving skills; 

  • Unquestionable integrity and adherence to the highest ethical standards;

  • Excellent written and oral communication skills in English are essential for this position; knowledge of another UN language would be an advantage.

*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.

 
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Before applying, please make sure that you have read the requirements for the position and that you qualify.
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