Innovative Finance Adviser - Crisis Risk Financing

What we do

The International Committee of the Red Cross (ICRC) works worldwide to provide humanitarian assistance to people affected by conflict and armed violence. We take action in response to emergencies and longer-term systemic challenges, and at the same time promote respect for international humanitarian law. We are an independent and neutral organization, and our mandate stems essentially from the Geneva Conventions of 1949. We work closely with National Red Cross and Red Crescent Societies and with the International Federation in order to ensure a concerted, rational and rapid humanitarian response to the needs of the victims of armed conflict or any other situation of internal violence. We direct and coordinate the international activities conducted in these situations.

Purpose

Based on the successful launch of the Humanitarian Impact Bond in 2017 and the Climate and Environment Transition Fund in 2022, the ICRC is building a portfolio of innovative finance instruments to be applied throughout its activities. By 2030, ICRC aims to mobilize 5% of its income through New Financing Models (NFMs), bringing additional forms of support to people affected by conflict by generating new partnerships across sectors, harnessing financing beyond grants, and mobilizing public and private capital. A developing area of focus for the NFMs Centre of Expertise (CoE) and resource mobilization division (REM) is to build ICRC’s capabilities in the field of crisis risk finance in fragile, conflict and violence (FCV) settings. 

The ICRC seeks an experienced, resourceful and entrepreneurial individual with experience in in crisis risk financing to lead ICRCs work in this area, leading the research and development of crisis risk financing for the ICRC, supporting delegations in developing and implementing crisis risk financing approaches and launching new transactions. 

The role will be a shared resource between the NFMs CoE and the Government Centre of Expertise. The Government CoE is responsible for stewardship of relationships with government donors within REM.

Reports to (role)

• Head of New Financing Models.
• Head of Government Center of Expertise.

Relationships

• Internally, interacts with all units in the Resource Mobilization Division (REM) at headquarters and in the field, Regions and Delegations, the Protection and Essential Services Department, with the Finance and Administration Division, Logistics, the Office of the Director-General, the Policy and Humanitarian Diplomacy Division and the Office of the President.
• Externally, interacts with governments, national societies, and private donors, DFIs/IFIs, financial services sector, investors and academia.

Accountabilities & Functional responsibilities

Under the supervision of the Head of CoE NFMs and Head of Government CoE, the Innovative Finance Adviser will:

• Build on ICRCs experience and research so far, lead the development and implementation of a crisis risk finance strategy that includes anticipatory finance for the ICRC and in collaboration with colleagues working in operations, partnership, diplomacy and policy and the resource mobilization division (REM)
• Review the existing external and internal research conducted on crisis risk finance and draw lessons learned for viable proposals for the ICRC, focusing on conflict and violence affected countries (FCV)
• Support delegations in developing and implementing activities that use and test crisis risk financing approaches
• Identify with key stakeholders 3-5 crisis risk finance projects including anticipatory finance to enter development from 2023 onwards. Lead, through technical experience the development of business cases, design and structuring of crisis risk finance mechanisms, performing detailed financial modelling and analytics and due diligence, ensuring the right balance between impact, risk, return and cost effectiveness
• Outreach to external stakeholders (governments, private, DFIs/IFIs, National Societies and IFRC), exploring uses of and partnerships within this field
• Support the development of policy and knowledge products, communications and outreach on crisis risk financing in FCV
• Convene and coordinate partnerships with key internal stakeholders (Resource Mobilization Division, Regions and Delegations, General Directorate, the Protection and Essential Services Department, Finance, etc.) and external ones within the private sector, academia, financial institutions, national societies, centre of expertise and competence e.g. RCRC Climate Centre, Anticipation Hub, Risk-informed Early Action Partnership (REAP) and governments that can support the development of crisis risk finance and contribute to knowledge and learning
• Integrate climate risk related financing where possible with the recently launched ICRC Climate and Energy Transition Fund and ensure an integrated approach with ICRCs existing and future funding tools
• Working with the NFM team, support the organizational readiness, network and market development and lessons learned related to NFMs, thus contributing to the centre’s strategic implementation plan
• Lead additional research/support the centre as needs may arise where capacity allows into new areas of interest for NFM development at the ICRC that could bring important financial and non-financial added value to affected populations.
   

Scope and Impact

• The position holder will lead one of the ICRC’s top priority areas in the exploration and development of crisis risk finance in FCV, with a view to creating partnerships, supporting new ways of working across sectors and engaging across the ICRC and to respond to donor governments’ expectations in relation to crisis risk finance
• This position involves coordinating with internal and external experts on the role of crisis risk finance and bringing new expertise to build the crisis risk finance portfolio 
• Financial responsibilities: in coordination with REM, securing seed funding, direct and indirect investment and grants; setting crisis risk at the ICRC on a path to diversification and scale by 2025, 
• Strategic internal impact throughout the organization including the Protection and Essential Services Department and the leadership
• Geographic remit: Global.

Certifications / Education required

• Educated to a master’s level or equivalent in finance, economics, risk management, international business or related field
• Fluent in English (native level), French and German and additional languages a strong asset

Professional Experience required

• At least 10-15 years’ experience in risk financing, investment banking, insurance or related field with a good understanding of the humanitarian financing system
• Demonstrated experience in analytical, problem solving and risk analysis with an ability to identify practical solutions, including the use of new technologies 
• Experience leading research and development of start-up projects to their successful implementation
• Ability to develop and maintain strong internal and external working relationships and communicate across a range of stakeholders (government, private sector, humanitarian and development actors)
• Understanding of the field of innovative finance and humanitarian financing system is desirable 
• Entrepreneurial with a capacity to adapt and excel in changing internal and external environments
• Experience working in developing countries, conflict-affected countries or with international development financial institutions a strong plus
• Ability to manage several work streams concurrently and semi-independently in a dynamic, entrepreneurial work environment
• Strong interpersonal skills and commitment to the ICRC’s humanitarian mission