Grade: IS-5
Deadline: 23 May 2023 (11:59 PM KST)
Job Category: International
Salary: USD 138,750 net (plus attractive benefits), that include the following allowances (as appliable): Relocation, housing, 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 Treasury Manager will contribute to Liquidity Risk management, Asset Liability management (ALM), and liquidity monitoring of the Fund in accordance with Funding Risk Policy and Risk Management Framework approved by the Board.  S/he will have functional responsibility for undertaking the financial and quantitative analyses on liquditiy management and hedging solutions to protect the Fund’s assets.  S/he will develop and ensure the implementation of the investment strategy to manage cash balance efficiently and to participate in the development of new financial instruments as it relates to ALM and in managing the financial risk of the GCF. 

Purpose

• Create cash investment strategy and hedging solutions to protect Fund’s assets 
• Manage liquidity risk of the Fund and ensure adequate liquidity for Fund’s cash transfer needs for the projects approved by the Board 
• Develop, implement and monitor a robust liquidity risk management framework for the Fund encompassing industry trends, contingency planning and liquidity buffers
• Participate in development of new financial instruments and identfication and management of financial risks to the Fund’s balance sheet
• Manage the transition from LIBOR to SOFR by developing and implementing a comprehensive transition plan to minimize operational and programmatic disruption
• Monitor foreign exchange risks and exposure through appropriate identification, implementation of hedging strategies and reporting on performance and outcomes
• Support the implementation of the Oracle ERP with particular focus on treasury modules and processes

Engagement

• Within the CFO and Division of Support Services, s/he will provide financial solutions and analysis to address complicated issues on 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 on matters related to financial policies, and financial risk management
• Support roll out of and act as Secretary to the Asset Liability Committee (ALCO)
• Liaise with Divisions to identify and mitigate funding and liquidity risks associated with proposals and ongoing engagements
• Work closely with teams on the ERP implementation ensuring the system is configured to meet the needs of rhe treasury function
• Articulate how an effective treasury function can support divisions and quantify the impact
• Proactively educate staff at all levels on the treasury function as a whole

Delivery

• Undertake financial analysis on specific ALM issues, identifies discrepancies and/or excessive 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
• Assist in the preparation of Board papers, and responses to queries on financial issues 
• 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 and Risk Register
• Develop cash portfolio investment instruction under which the Trustee will invest the cash of the Fund efficiently
• Ensure SOFR calculations are accurate, up-to-date and compliant with industry standards through monitoring of developments in SOFR and by updating models and methodologies as required

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

• 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 in an International Financial Institutions (IFIs) and multilateral institution's financial policies with a good understanding of ALM and financial risk management issues, financial accounting and overall financial operations of Multilateral Development Banks (MDBs) or IFIs
• Strong knowledge of financial instruments including structured equity securities, fixed income securities and derivatives products. Experience in negotiating terms and conditions with MDBs and major private financial institutions is a plus
• 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
• Expertise in Oracle, Microsoft Excel and other typical finance related systems
• 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 closing date for application is 23 May 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.