Date: 24 April 2023

Grade: IS-2

Deadline: 08 May 2023 (11:59 PM KST)
Job Category: International
Salary: USD 91,970 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 Project Investment Officer, as part of the Private Sector Facility, will be responsible for undertaking a range of operational and analytical tasks necessary for the ongoing operationalization and implementation of the private sector strategy of the Fund with a focus on private sector transactions including upstream support provided to countries for green finance policy initiatives using a variety of financial instruments including equity, guarantees and financial innovations that will increase PSF’s deal pipeline and overall effectiveness.

 

Purpose

• Contribute to achieving the Fund’s private sector strategy and overall strategic objectives for increasing the share of PSF proposals in GCF portfolio and increasing private capital mobilization for climate action; 
• Provide operational support in pipeline development, proposal development and review, and portfolio monitoring of PSF transactions;
• Provide analysis on key aspects of a proposal and its alignment with the Fund’s strategic objectives as well asassess the risks; 
• Perform financial modelling and analysis to support decision making for financial structuring, tracking and reporting; 
• Develop report on financial parameters and prepare reports as needed for PSF leadership review;

 

Engagement

• Liaise with domain-level specialists such as risk, legal, environment and social safeguards and gender within GCF to obtain their specific inputs on Funding Proposals and Readiness proposals and work with third-party advisors and consultants;
• Gain market intelligence on trends of climate finance including central banks, non-banking financial institutions, and supervisors, and help promote awareness of the Fund’s offering in the marketplace as well as develop effective relationships with new and existing partners;
• Collaborate with other relevant divisions (Finance and ORMC among others) in building and managing financial models, reviewing, drafting and negotiating term sheets with AEs, and preparing assessment notes for investment committees; collaborate effectively with the Division of Country Programming to strengthen upstream engagement with NDAs, accredited entities (AEs) and relevant stakeholders;  
• Conduct market research, data collection and analysis of financial model to guide accredited entities in strategic utilization of GCF’s financial instruments for proposed project;

 

Delivery

• Deliver proposal reviews and assessments in a timely manner and assist with drafting policies and procedures;
• Support the development of new modalities and offerings to increase the effectiveness of the Fund’s engagement with the private sector; and
• Work closely with the Division of Portfolio Management (DPM) for post-approval monitoring/evaluation/reporting, disbursement of funds and amendments to legal agreements as necessary. 

 

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

• Master’s degree in a relevant field; MBA / CFA / Professional Designation preferred; Or bachelor degree plus two more years of experience
• At least 4 years of full time work experience in climate finance, structured finance, investment banking, corporate banking or related fields; Experience or knowledge in the area of climate change (mitigation, adaptation, climate finance and climate policies) is advantageous;
• Understanding of the different financial tools – equity, debt, guarantees and grants is mandatory;
• Evidence of intermediate / high proficiency in financial modelling.
• Proven work experience in structuring financial products in or with financial institutions, including for investments and risk management in sectors and areas relevant for climate change mitigation and adaptation;
• Experience/knowledge of other areas of finance is desirable; this role will be expected to provide support (back-up) to other team members within PSF as and when necessary;
• Experience in identifying risks associated with projects and programmes and developing solutions to help mitigate them;
• Self-starter focused on results and delivery of high-quality work with limited guidance at times;
• Flexibility and ability to take initiative, embrace and adapt to change; 
• Team player that is able to collaborate with peers within the team and across the organisation; 
• Excellent written and oral communication skills in English are essential for this position; knowledge of another UN language an advantage; and

 

Candidates who meet most of the core requirements but fall short of educational or total full-time work experience, may be considered for underfill at the discretion of the hiring manager/Division Director. 
 

*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.