Climate Risk Insurance Analyst (2 openings in Apia, Samoa and Honiara, Solomon Islands)

The UN Capital Development Fund (UNCDF) makes public and private finance work for the poor in the world’s 46 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development. UNCDF’s financing models work through two channels:

• Financial inclusion that expands the opportunities for individuals, households, and small businesses to participate in the local economy, providing them with the tools they need to climb out of poverty and manage their financial lives;
• And by showing how localized investments — through fiscal decentralization, innovative municipal finance, and structured project finance — can drive public and private funding that underpins local economic expansion and sustainable development.

By strengthening how finance works for poor people at the household, small enterprise, and local infrastructure levels, UNCDF contributes to SDG 1 on eradicating poverty and SDG 17 on the means of implementation. By identifying those market segments where innovative financing models can have transformational impact in helping to reach the last mile and address exclusion and inequalities of access, UNCDF contributes to a number of different SDGs. The Pacific Small Islands Developing States (PSIDS) are highly vulnerable to natural hazards. However, they have limited capacity to effectively manage the risks and overcome the significant economic losses after a disaster. Presently, there are limited ex-ante financial instruments (government reserve funds and contingent credit) available in most Pacific countries and the ex-post financial instruments deployed are usually reallocated from government budgets, acquired through external and internal borrowing or the result of donor assistance and international humanitarian aid.

While many PSIDS have developed national and sub-national Disaster Risk Management (DRM) plans, no country has an integrated Climate Disaster Risk Financing (CDRF) strategy to better manage economic losses after a disaster. Although there is awareness on CDRF learnings available globally, the capacity to access and accelerate its usage in the Pacific context remains a challenge among PSIDS to progress towards blue/green economy. With several innovative ex-ante CDRF tools and instruments emerging in the global markets, there is opportunity to introduce, test and scale market-based CDRF instruments like parametric insurance targeting the vulnerable and low income populations in PSIDS. This is proven with some of the learnings and findings produced from the PFIP projects on micro-insurance. The United Nations Capital Development Fund (UNCDF), through a joint programme with the United Nations Development Programme (UNDP), the United Nations University Institute for Environment and Human Security (UNU-EHS), and in close collaboration with key stakeholders from the government, public, private sector and other development partners, aims to address the challenge through the workstreams envisaged in the Pacific Insurance and Climate Adaptation Programme. The Programme is aligned to the United Nations Pacific Strategy, UNCDF global strategies and the respective country national development plans. The Programme will specifically target women, youth and MSME segments to work across agriculture, fisheries, and tourism sectors.

The overall program objective is to improve the financial preparedness of “Pacific households, communities, small businesses, organisations and governments towards climate change and natural hazards” through a combination of stakeholder engagement, co-creation of solutions, awareness and capacity building, innovative financing options and digital linkages – with a robust interface to the 2030 Sustainable Development Goals. The Climate Disaster Risk Insurance Analyst will support various aspects of the implementation of the Pacific insurance and Climate Adaptation Programme in the Samoa/Solomon Islands principally and across the Pacific and beyond as and when required.

The individual will be acting as the Country coordinator (hereinafter called the Analyst or resource) for the Programme’s implementation in Samoa/Solomon Islands. In this capacity, he/she will be responsible for developing partnerships and managing relationships with country stakeholders- in particular the Central Bank of Samoa/Solomon Islands, the relevant Government ministries and departments (Finance, Commerce, Industry, Women and rural development, local and provincial government etc.), financial service providers, FinTech/InsurTech providers, other private sector, civil society, local and international NGOs, donors and development partners. The incumbent will be responsible for providing inputs to the annual work plan of the Pacific Insurance and Climate Adaptation Programme as it applies to Samoa/Solomon Islands and thereafter lead the in-country implementation of the workplan to achieve the desired results. The analyst will also represent the programme in all meetings, workshops and country level engagement with both public and private sectors. The analyst will be responsible for the development of grant proposals, manage grant and technical assistance projects and work closely with the PICAP regional team in planning, coordinating and delivering capacity building workshops to country partners.

The Climate Disaster Risk Insurance Analyst will also support the Programme in terms of research with a particular focus on Climate Disaster Risk Financing and Insurance (CDRFI) instruments, both globally and in the Pacific. The individual will support the collection of qualitative and quantitative data for research in communities by contacting different associations, cooperatives, organizations, and groups within the target segments and ask relevant questions addressing how they are affected by natural hazards, what their coping mechanisms are, and if there is a demand for CDRFI products. The research findings will feed into the design of new innovative and inclusive insurance products as well as new iterations of the already existing parametric microinsurance products that are being piloted by the Programme. The analyst will also support partner reporting to the quarterly, semi-annual and annual programme reports and other inputs required from time to time.

The individual will also contribute to the Programme by conducting capacity building workshops on financial and insurance literacy for grantees, Government officials, and other stakeholders. Furthermore, he/she will support the Lead Specialist in investigating, designing, and supporting new approaches for raising awareness on Climate Disaster Risk Financing and Insurance instruments and educating on financial and insurance literacy.

Support the Lead Specialist and the regional programme team in developing and implementing a country specific CDRFI programme:

• Support country diagnostic studies, develop annual workplans and implementing the approved plans.
• Regularly review the progress against the workplans and report to the Programme manager
• Take appropriate actions to complete tasks and activities under the work plan and avoid delays.

Develop country level partnerships with stakeholders -

• Build and maintain partnerships with key stakeholders including (not limited to) Central Banks, Government ministries, private sector specifically financial service providers, mobile network operators, NGOs, civil society.
• Create a community of practice for climate disaster risk insurance in the country by including relevant stakeholders.

Support the Lead Specialist in conducting research.

• Design and develop the terms of reference for research and studies covering demand, supply side and policy/regulatory aspects of climate disaster risk financing and insurance.
• Provide in-country guidance and support to the regional team or technical consultants in the research projects.

Designing new approaches for raising awareness on CDRFI:

• support the lead specialist and regional team in developing and enhancing resources for raising awareness on financial and insurance literacy.
• Identify suitable service providers and partners in the country for wider dissemination of CDRFI literacy material.
• Share lessons learned, contribute to knowledge management and best practices.

Support the programme team in MEAL

• Liaise with the programme grantees to ensure timely reporting against KPIs.
• Support regional team during in-country visits and field monitoring of projects.
• Contribute to overall reporting and programme evaluation.

Perform other related duties as required.

Results/Expected Outputs

• Development of the climate disaster risk financing and insurance portfolio in Samoa/Solomon Islands and support to the Pacific Insurance and Climate Adaptation Programme in other countries as required.
• Achievement of targets and results under the annual work plan for Samoa/Solomon Islands.
• Identification of potential grant and technical assistance partners to be supported by UNCDF in the country and establishing/maintaining relationships.
• Robust relationships with PICAP grantees, Central Bank and Government officials, and other stakeholders.
• Satisfactory and timely delivery of quarterly, semi-annual, and annual reports as well as other reporting duties.
• Successful delivery of capacity building workshops, educating grantees, Government officials, and other stakeholders on financial and insurance literacy.
• Development and distribution of knowledge and information products for Programme stakeholders.
• Donor relationship management.

Core competencies: 

• Achieve Results: LEVEL 1: Plans and monitors own work, pays attention to details, delivers quality work by deadline
• Think Innovatively: LEVEL 1: Open to creative ideas/known risks, is pragmatic problem solver, makes improvements
• Learn Continuously: LEVEL 1: Open minded and curious, shares knowledge, learns from mistakes, asks for feedback
• Adapt with Agility: LEVEL 1: Adapts to change, constructively handles ambiguity/uncertainty, is flexible
• Act with Determination: LEVEL 1: Shows drive and motivation, able to deliver calmly in face of adversity, confident
• Engage and Partner: LEVEL 1: Demonstrates compassion/understanding towards others, forms positive relationships
• Enable Diversity and Inclusion: LEVEL 1: Appreciate/respect differences, aware of unconscious bias, confront discrimination

Cross-Functional & Technical competencies:

Digital & Innovation

• Data Analysis: Ability to extract, analyse and visualize data (including Real-Time Data) to form meaningful insights and aid effective decision making
• Data Collection: Being skilled in Data Sorting, Data Cleaning, Survey Administration, Presentation and Reporting including collection of Real-Time Data (e.g. mobile data, satellite data, sensor data).
• Data literacy: Understand the potential as well as the limitations of using data driven innovation. Ability to use a mix of data sources (quantitative, qualitative or real-time techniques) to develop understanding, identify patterns to inform decision making or identify opportunities for further exploration.
• Development evaluation: Learning and adaptation focused: ability to promote and facilitate ongoing reflection and adaptation; aimed at informing learning and portfolio related decision making. Being comfortable with unknown unknowns, uncertainty and understand the traits and value of working with emergence. Being able to give direction rather than destination: monitor and learn about how we understand the present and our direction towards something better (general intent) – not measuring progress and milestones towards a specific predefined goal Being able to carry out evaluation thinking in complex systems and adapting evaluation strategies to changing realities. Being inclusive, collaborative and co-creative: being able to design and implement evaluation frameworks with the variety of stakeholders and beneficiaries involved. Being flexible and able to use of a mix of methods, having a high tolerance for ambiguity and can draw on a variety of qualitative and quantitative evidence, is open to unorthodox types of evidence. Ability to set up the structures, conditions, rituals to create a culture for curiosity, reflection and learning and promote evaluation results and insights from a learning perspective. Understand key principles of systems and complexity theory

Digital Awareness and Literacy

• Tech and Financial literacy: Ability and inclination to rapidly adopt new technologies, either through skillfully grasping their usage or through understanding their impact and empowering others to use them as needed

Business Management

• Partnerships Management: Ability to build and maintain partnerships with wide networks of stakeholders, Governments, civil society and private sector partners, experts and others in line with UNDP strategy and policies

• Master’s degree in economics, Finance, accounting, management, social sciences, humanities, or Bachelor’s degree economics, Finance, accounting, management, social sciences, humanities in with 2 years of experience.