Grade: IS - 5

Deadline: 14 April 2010 (11:59 PM KST)

The mission of the Green Climate Fund (“GCF”, “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 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.

The GCF’s 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
Under the leadership of the head of finance the Treasury Senior Specialist will be responsible the overall treasury operations of the Fund which includes the Liquidity Risk management, Asset Liability management (ALM), cashflow monitoring etc., in accordance with Funding Risk Policy and Risk Management Framework approved by the Board.  S/he will also be responsible for analysis of funds investment management, FX hedging solutions, recommend appropriate action to the management/Board and to implement the same.
Duties and Responsibilities
Purpose
•    Develop, revise and implement cash investment strategy and FX hedging solutions to protect Fund’s assets. 
•    Manage liquidity risk of the Fund and ensure adequate liquidity is always maintained to meet Fund’s cash transfer needs. 
•    Identify emerging trends in the treasury operations and suggest/ implement appropriate action.
Engagement
•    Within the CFO and Division of Support Services, s/he will provide financial solutions and analysis to address currency hedging, liquidity portfolio investment, and interest rate risk management.
•    Assist in preparing periodic communication and responses to queries/information requests from Senior Management, Board Members, Contributors on matters related to financial policies, and financial risk management.
Delivery
•    Undertake financial analysis on specific ALM issues, identifies discrepancies and/or risk levels, and proposes solutions.
•    Undertake quantitative analytical work, research, and technical studies related to the various aspects of GCF's liquidity investment, FX hedging and financial policies requested by the Board.
•    Monitor cash flow, update risk dashboard, and provide support in the related financial matters.
•    Assume emerging work in the treasury functions within the mandate of the Fund e.g. collaborating with other divisions to find appropriate solution for effective deployment of the guarantee and local currency products.
•    Prepare/ assist in the preparation of Board papers and respond to queries on financial issues. 
•    Develop and update guidelines for managing loan contribution deposited by loan contributors. 
•    Monitor the reflows and appropriately allocate them to the loan and capital providers.
•    Maintain the contribution data for the purpose of effective liquidity and investment management.
•    Identify emerging trends in the treasury operations and suggest appropriate action.
•    Maintain and ensure implementation of the procedures, data, guidelines and controls to ensure integrity of financial information, and manage financial risks such as interest rate risk, liquidity risk, currency risk, and overall capital adequacy. 
•    Undertake active involvement in the research, brainstorming discussions, editing, and finalization of strategic papers, including Board papers (including FX hedging solutions and Liquidity investment strategy) Provide financial data to build Risk Dashboard which will be approved by the Board and SMT periodically.
•    Develop cash portfolio investment instruction under which the Trustee will invest the cash of the Fund efficiently.
•    Take lead in the analysis and implementation of the innovative financial instrument of the Fund.
Requirements
•    Master’s degree in Finance/Financial Engineering, MBA, CFA (Chartered Financial Analyst certified by CFA institute), FRM (Financial Risk Manager certified by GARP) or an equivalent combination of education and experience.
•    At least 11 years’ relevant combined experience preferably in an International Financial Institutions (IFIs) and multilateral institution's financial policies with a good understanding of ALM, financial risk management issues, financial accounting and overall financial operations. 
•    Strong knowledge of financial instruments including structured equity securities, fixed income securities, guarantee and derivatives products.
•    Exposure to cross-currency derivatives markets, local currency bond issuances, as well as structured finance transactions covering various asset classes and geographic markets.
•    Expertise in Treasury application system development, maintenance, and support.
•    Knowledgeable about financial markets/instruments and how to mitigate relevant financial risk.
•    Solid understanding of relevant Treasury and policies, guidelines, and reporting formats.
•    Effective report-writing. 
•    Fluency in English is essential; knowledge of another United Nations language is 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.