Operations Specialist (5 positions)

Date: 28 February 2023
Grade: IS-3
Deadline: 27 March 2023 (11:59 PM KST)
Job Category: International
Salary: USD 104,000 net (plus attractive benefits, that include the following allowances (as appliable): Relocation, dependency, education assistance and home country travel)

Introduction
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.
 

Position Objective
The Division of Private Sector Facility (PSF) leads the implementation of the GCF’s private sector strategy to mobilize private capital for fostering low emissions, climate resilient systems transition in developing countries. PSF’s works in transition of energy, industry, infrastructure, nature & ecosystems, and human resilience and cross-cutting systems. The PSF Operations Specialist is expected to have expertise in financial structuring and knowledge of different de-risking financial instruments with a focus on equity, guarantee, and emerging financial innovations for climate investment. S/he will be responsible for supporting the development of high-quality private sector proposals for GCF financing. The incumbent will work with team members in creating a pipeline of transformative climate investments and identify potential new partners for GCF private sector. S/he will also lead or support the due diligence of proposals and help navigate them through the GCF operations/programming cycle, and in so doing bring high quality proposals that are aligned with GCF’s strategic objectives and the private sector strategy, for GCF Board approval. 

Purpose

• Conduct screening of project ideas for their fit with GCF strategic objectives and private sector strategy 
• Adapt GCF due diligence /appraisal framework for private sector and conduct  due diligence of project proposals submitted for GCF funding
• Assess the risks, barriers, market failure and financial sustainability facing project developers in their efforts to develop high-impact climate impacts /outcomes of proposals and advise on appropriate financial structures as per GCF’s policy and quality standards, in a time bound fashion
• Expand the use of GCF’s equity, guarantees and other financial innovations for crowding in private sector finance across a variety of system transition focus areas
• Adapt GCF instruments/ modalities in financial structuring to manage risks that may have material impact on outcome including but not limited to  sector/regional risks, market creation barriers in sectors and geographies using new approaches for scaling up private investments in low emission, climate resilient development
• Anticipate shifts in market trends; evaluate implications and alignment with GCF’s private sector strategy and programming priorities; and adapt these in the due diligence and proposal preparation
• Advise, develop and structure new businesses, corporate entities and projects that seek to enhance value to a diverse group of AEs and targeted countries at different development levels and priorities
• Expand the use of GCF’s full suite of financial instruments (grants, loans, equities and guarantees) and innovative programs/investment platforms with specific focus on adaptation and mitigation

Engagement

• Build effective and collaborative relations at operations level across GCF to develop a deeper understanding of key priorities, policies and strategic objectives with a view to preparing high quality proposals for internal and Board approval
• Advocate and lead PSF’s programming priorities and identify opportunities for collaborative engagements to identify new markets for private sector investment
• Develop market intelligence on climate finance trends by the private sector including private equity, asset management companies and other investment funds, and promote awareness and understanding of the GCF’s value proposition through building relationships with existing and potential partners
• Identify and promote interventions to remove or mitigate market-creation barriers in sectors and geographies using innovative and context-specific approaches for scaling-up private investments in low emission, climate resilient development
• Engage and guide discussions with key stakeholders and decision-makers to create greater awareness and understanding of innovative financing opportunities for GCF 
• Develop deeper understanding of the priorities and challenges of NDAs and other internal and public stakeholders and engage in discussions to create a more conducive business climate and incentives for private sector investments in climate finance

Delivery

• Deliver reviews and assessments of proposals as per GCF programming cycle including term sheets and Funded Activity Agreement (FAA) in a timely manner and assist with drafting policies and procedures as they pertain to funding programmes
• Work closely with team members and other GCF divisions to lead the preparation and processing of project and board documentations for blended finance investments and presentation of Concept Notes and Funding Proposals to CIC approvals
• Evaluate and assess financial information and structures as well as financial analyses undertaken by AEs in a timely manner to identify GCF’s compliance and concerns
• Propose and recommend financial structures that strengthen the project as well as mitigate both financial and climate impact risk
• Ensure complete life-cycle ownership of the project(s) / programme(s) including origination, structuring, board approval, legal documentation, first disbursement and subsequently support to the Division of Portfolio Management (DPM), as and when required
• Work closely with DCP to ensure alignment with country priorities and with DPM for post-approval monitoring/evaluation/reporting, disbursement of funds and amendments to legal agreements as required 

Requirements (Education, experience, technical competencies required of the job)

• Master's degree in Finance, Economics, Accounting or similar relevant education; a MBA degree or accreditation as a CFA or CPA is considered a plus
• Minimum of 7+ years of relevant experience in the financial sector, including a solid operational understanding of commercial banks and other financial entities in the region; or bachelor’s degree plus 2 years of experiences. 
• Strong financial modelling skills and track record in investment structuring specifically blended finance projects/platforms, including modeling of respective risks and subsidies, and assessing the products/structures that meet the project needs and have an adequate risk/return for investors
• Strong experience in working in one or more climate resilient systems transition in developing countries where PSF focuses - energy, industry, infrastructure, ecosystems; and human resilience and cross cutting systems
• Advanced financial, credit and risk evaluation skills, with demonstrated ability to structure and negotiate a variety of complex financial instruments (debt, equity and guarantees) as well as experience in portfolio management;
• Lead knowledge management activities in blended finance activities;
• Demonstrable experience in identifying, originating and qualifying new business opportunities as well as developing and executing on these opportunities;
• Solid understanding of different valuations methodologies and ability to negotiate with AEs and project owners;
• Sound commercial and financial judgment coupled with strong problem solving/negotiation skills; 
• Demonstrated experience in private sector development, programmatic approaches and innovations that provide novel solutions to development issues;
• Capacity and willingness to manage conflicting priorities/simultaneous projects under time constraints and deliver high quality work;
• Comfortable working within multicultural teams and across boundaries and ability to build and maintain relationships with private and government partners;
• Ability to lead and coach junior staff as well as manage the demands of senior staff;
• Strong communication skills - written, oral and presentation, in English. This includes an ability to synthesize and explain complex issues and information in a manner that is understood by different audiences and stakeholders;
• Commitment to sustainable development;
• Ability to undertake significant regional and international travel
   

The closing date for application is 27 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.