(Senior) Climate Change Specialist (Climate Finance)
Job Vacancy | Wednesday, May 3, 2023
IMPORTANT INFORMATION:
ADB has an ongoing organizational review which may result in the change of department/group and/or reporting arrangement(s). By proceeding with your application, you acknowledge and accept the possibility of such changes resulting from the organizational review.
This is a special fixed-term appointment, coterminous with the availability period of the Asia-Pacific Climate Finance Fund (the Fund), which ends in June 2024. At the end of the period, the appointment may, at the option of ADB and conditional upon extension of the availability period of the Fund, be extended for a further fixed period or allowed to lapse. A special fixed-term appointment will automatically and without prior notice expire at the end of the original or extended term.
Overview
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.
ADB only hires nationals of its 68 members.
The position is assigned in the Climate Change and Disaster Risk Management Division (SDCD) of the Sustainable Development and Climate Change Department (SDCC). The Sustainable Development and Climate Change Department provides leadership, innovation, and knowledge sharing for ADB’s sector and thematic work. SDCD is playing the role of secretariat for coordinating the Bank’s efforts in assisting its DMCs to transition to low-carbon and climate and disaster-resilient development pathways, through, among others, the development of policies and strategies, investment operations support, facilitation of access to finance and provision of knowledge and partnerships.
To view ADB Organizational Chart, please click here.
Job Purpose
The Senior Climate Change Specialist (Climate Finance) will lead the identification, development, sourcing and deployment of Asia-Pacific Climate Finance Fund (ACliFF) financial resources to support the design and implementation of financial risk management products to unlock investments in climate change mitigation and adaptation and address extreme weather risk in ADB DMCs.[1]
The incumbent will perform high level of interaction with ACliFF financing partners, ADB management and staff, internal working groups, financial risk management product providers (e.g., insurance and reinsurance companies, guarantee companies, and financial institutions), project sponsors, and DMC officials, in order to identify projects that are eligible for ACliFF support. The incumbent will review and process fund applications, and manage the Fund’s overall portfolio efficiently. The incumbent will report to Director, SDCD and supervise national staff and national and international consultants supporting ACliFF operations.
[1] The Asia-Pacific Climate Finance Fund is a multi-donor trust fund established in April 2017. The objective of the fund is to support the development and implementation of financial risk management products that can help unlock capital for climate investments and improve resilience to the impact of climate change. ADB. 2017. Establishment of Asia-Pacific Climate Finance Fund. Manila.
Responsibilities
a. Fund Management
• In line with ACliFF’s establishment paper and implementation guidelines, identify opportunities for ACliFF engagement in consultation with ADB's operational departments, DMC governments, financial risk management product providers, project partners, and sponsors.
• In consultation with specialists from other ADB departments, support the generation and effective processing of ACliFF funding proposals;
• Report on the Fund’s operations and portfolio of supported products, in particular, leading the preparation and dissemination of the Annual Progress Report and Annual Work Plan and the organization of annual consultation meetings with the Financing Partners;
• Contribute to policy and procedural recommendations regarding the Fund’s operations and implementation;
• Facilitate interaction between ADB and Financing Partners, project sponsors and third parties, including on requests for contribution from Financing Partners;
• Participate in Fund co-financing transactions including contract negotiations with project sponsors and third parties as necessary.
• Ensure active engagement with external partners including potential Financing Partners, partnerships (e.g., InsuResilience Global Partnership, Global Shield against Climate Risks, NDC Partnership), insurers, reinsurers, guarantee companies, banks and other financial institutions, technology and knowledge providers; and internally within ADB and across ADB-linked entities to ensure compatibility with ADB project cycles and country engagement strategies; and
• Supervise the contracting and management of the Fund Management Team in the broader operation and management of the Fund, including servicing the needs of the Financing Partners.
b. Operational Advice and Support
• Contribute toward the ongoing identification, development and implementation of innovative approaches, products and services supported through ACliFF that directly address climate investment risk and extreme weather risk in ADB’s DMCs, as required.
c. Knowledge Sharing and External Relations
• Support senior management and represent ACliFF in conferences/workshops; and
• Participate in and contribute to relevant internal and external training and conferences and other activities for advocacy, dissemination, and knowledge building.
d. Staff Supervision
• Provide leadership and support to reporting staff; and
• Supervise the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance and encouraging on-going learning and development.
Qualifications
Relevant Experience & Requirements
- Master's Degree, or equivalent in finance, economics, business administration, or relevant fields. Alternatively, university degree in related fields combined with additional relevant professional experience can be considered.
- Minimum of 8 years of relevant professional experience in developing countries in the Asia-Pacific region, with special focus on the design and implementation of financial risk management products to unlock investments in climate change mitigation and adaptation and address extreme weather risk;
- A proven results focused transaction completion track record involving multiple parties and stakeholders, preferably including in a private sector context (e.g., insurance or reinsurance industry);
- Advanced project management skills and experience in managing a portfolio of complex commercial transactions in a time-efficient manner;
- Detailed understanding and practical experience of barriers and opportunities for the application of financial risk management products in areas of energy, agriculture, climate change adaptation and/or disaster risk management, preferably in the Asia-Pacific context;
- Experience in performing risk analysis and due diligence for climate investment and climate and disaster risk management projects.
- Superior communication and negotiation skills including excellent written and oral communication skills in English. Strong analytical and strategic thinking skills.
- Please refer to the link for ADB Competency Framework for International Staff Level 4/5.
General Considerations
The selected candidate, if new to ADB, is appointed for an initial term of 3 years.
ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB’s standards and computation, taking into account the selected individual’s qualifications and experience.
ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.
Please note that the actual level and salary will be based on qualifications of the selected candidate.
