Portfolio Management Specialist-Funded Activities(Talent Pool)
- Organization: GCF - Green Climate Fund
- Location: Incheon
- Grade: Mid level - Mid level
- Banking and Finance
- Project and Programme Management
- Closing Date: 2023-03-26
Date: 27 February 2023
Deadline: 26 March 2023 (11:59 PM KST)
Job Category: International
Salary: USD 123,770 net (plus attractive benefits, that include the following allowances (as appliable): Relocation, dependency, education assistance and home country travel)
Please note we are recruiting multiple positions under this role.
The mission of the Green Climate Fund is to assist developing countries to respond to climate change while bringing prosperity to their people.
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.
Since its establishment, the GCF has approved 209 projects in 123 countries and has committed USD 11.4 billion in climate finance. In addition, it has built up an extensive program to support developing countries to 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 makes unique contributions to the Fund, enriching the institution through their combined expertise and professional commitment.
The Portfolio Management Specialist will join an exciting team within the Division of Portfolio Management (DPM) and the Portfolio Implementation Monitoring and Management of Funded Activities (PIMM FA) workstream. The position will be responsible for the management of a complex portfolio of public and/or private sectors projects/programmes under implementation (instrumented via different financial instruments, including grants, equity, debt, guarantees). S/He will lead the portfolio’s monitoring and the resolution of implementation challenges for Funded Activities assigned under the portfolio. S/he will be responsible for ensuring compliance with legal agreements and the GCF’s policies and procedures. S/he will also make a crucial contribution to the efficient and effective management of GCF’s portfolio of Funded Activities as well as provide strategic and technical contributions for the establishment, review and refinement of portfolio management frameworks, policies, and guidelines. The scope includes an on-going supervision and management of the Funded Activities in the respective portfolio, which ranges from the signing of required legal agreements through the completion and final evaluation of the Funded Activity.
Critical to this role is hands-on experience in (a) designing, managing and/or implementing public sector and/or private sector projects/programmes in developing countries; (b) managing and implementing projects/programmes preferably with a diverse suite of financial instruments (e.g. grants, equity, debt, guarantee); and (c) monitoring of projects/programmes with the ability of identifying key risks and providing solutions/mitigants for a successful implementation, including deployment of adaptative management actions in case where risks might have materialized.
- Lead and coordinate monitoring of an assigned portfolio of projects/programmes through reviewing performance reports submitted by Accredited Entities (AE) and/or ad-hoc site visits to assess implementation performance, as well as identify and proactively manage implementation and performance risks and challenges.
- Advise the senior management on appropriate corrective measures required to manage and mitigate portfolio implementation risks as appropriate.
- Proactively lead and coordinate guidance to AEs to ensure timely compliance with M&E reporting requirements as per the relevant Fund’s frameworks such as GCF’s Monitoring and Accountability Framework and the Integrated Result Measurement Framework (IRMF), legal and financial terms and conditions and Fund policies and procedures.
- 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, portfolio monitoring procedures and processes in response to evolving and varied institutional and client needs and contexts.
- Feedback learning from the successes, challenges or failures in the implementation of projects/programmes in order to inform the Fund’s future programming strategy and processes.
- Lead the portfolio monitoring and resolution of implementation challenges amongst assigned portfolio of projects/programmes as required.
- Manage and coordinate interdivisional teams and reviews and inputs to ensure timely processing of disbursements, waivers, extensions and amendments requests from delivery partners and AEs for assigned portfolio of projects/programmes.
- Build, develop and execute effective relationship management strategies with AEs during implementation phase to facilitate timely information exchange, feedback and corrective actions to manage risks of projects/programmes under implementation as may be required.
- Build and drive engagement with AEs and internal stakeholders to drive appropriate portfolio management actions and strategies to address emerging challenges to assure healthy portfolio performance and results.
- Contribute to Secretariat-wide/inter-divisional initiatives and represent DPM in internal committees/working groups and external engagements including conferences and meetings as appropriate.
- Provide guidance and mentorship to junior members of the team and contribute to/ lead hiring processes of consultants and interns.
- Provide technical inputs to refine monitoring and reporting guidelines for GCF operations, in compliance with the Board-approved policies and frameworks as may be required.
- Contribute to optimization, standardization and improvement of the portfolio management processes and procedures and including identification of early warning systems and provision of inputs into the portfolio risk dashboard.
- Lead, coordinate and contribute to the preparation and presentation of DPM reports such as portfolio performance reports, project/programme disbursement projections and reports, and project/programme implementation updates for consideration by the GCF management, and internal committees/working groups, as well as the Board as may be required.
- Lead and coordinate the review of reports, preparation, compilation and presentation of lessons learned, case studies and best practices in collaboration with other workstreams and divisions, to inform and improve portfolio selection, implementation and evaluation of GCF projects/programmes as may be required.
- Lead, coordinate and contribute to review of information on projects/programmes implementation and results to update portfolio dashboards and inform corrective portfolio and policy actions needed to improve the performance of the GCF portfolio.
Required skills, experience and qualifications*
- Advanced university degree in economics, environmental studies, business administration, finance, engineering or other relevant fields, or bachelor’s degree plus 2 additional years of experience.
- At least 9 years of solid experience in designing and implementing public and/or private sector projects/programmes, including complex ones.
- Demonstrated record of accomplishment in implementation and monitoring of both private and/or public sector projects/programmes, including complex ones.
- Ability to foresee implementation challenges and where needed work with the AEs to employ implementation solutions.
- Good understanding of and/or experience in applying the Fund’s instruments (e.g. grants, debt, guarantees and equity) in Fund investment areas of focus.
- Ability to articulate and present ideas well both in writing and orally to a diverse audience of stakeholders at technical and strategic levels.
- Knowledge of the operational framework and fiduciary standards of international public sector institutions.
- Strong Interpersonal/relationship management and negotiation skills.
- Excellent analytical skills and problem-solving skills.
- Ability to work in a multicultural environment with diverse stakeholders at different technical and strategic levels– staff, Board and external stakeholders.
- 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.
- Providing strategic and technical support to projects in a range of sectors including in agriculture, infrastructure, transport and energy.
- Experience in international organizations, multilateral development banks, working with private equity funds and other investment vehicles using a similar approach are all advantages.
- Exposure to/knowledge of climate change project/programme issues and/or GCF working modalities is an added advantage.
The closing date for application is 26 March 2023. Applications submitted after the deadline may not be considered.
*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.