Back Investment Risk Specialist (Talent Pool)

Date: 21 February 2024
Grade: IS-4
Deadline: 13 March 2024 (11:59 PM KST)
Job Category: International
Salary: USD 123,770 net (plus attractive benefits, that include the following allowances (as applicable): Relocation, dependency, housing, 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 216 projects in 129 countries and has committed USD 12.0 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 mission of the Office of Risk Management and Compliance (ORMC) led by the Chief Risk and Compliance Officer is to: develop, manage and update comprehensive risk and compliance frameworks, policies and processes; identify, prioritize, monitor and manage actual and potential risks affecting the Green Climate Fund (GCF); and review pipeline and portfolio investments and programs to ensure that they are within the Fund’s risk tolerances, comply with the Fund’s compliance and risk policies, and achieve optimal risk-reward for the Fund. The ORMC has two Units, the Risk Unit and the Compliance Unit.

The Investment Risk Specialist, reporting to the Risk Manager and working with other Specialists, will be responsible for reviewing funding proposals and post approval amendments and restructuring requests to provide an objective and independent risk assessment and solution oriented advice to management and programing teams. The incumbent will actively engage with other members of the deal team and synthesize her/his risk assessment into the secretariat assessment submitted to the Board. The Specialist will also play an important role in the development and revision of investment risk guidelines and tools.

Purpose

• Create, maintain, and apply, with guidance from the Risk Manager as needed, credit and equity standards, deal acceptance criteria, risk tools and knowledge management products to ensure rigorous assessment of funding proposals and proactive management of portfolio projects
• Review and improve investment risk review process for maximum effectiveness and efficiency

  Engagement

  • Collaborate with other members of the ORMC, the origination and portfolio teams to ensure that risks and opportunities are identified and fully understood throughout the approval and portfolio management process
  • Provide expert advice on risk mitigation and persuade stakeholders to improve the risk and reward profile of the funding proposals and restructuring requests

    Delivery

    • Review complex funding proposals and post approval amendments and restructuring requests in accordance with the Risk Management Framework of the Fund
    • Adapt the review commensurate with the risk profile and complexity of the funding proposal and amendment and restructuring requests
    • Provide independent risk assessment as part of the secretariat assessment of the funding proposals

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

      • Master’s degree or equivalent in Economics, Finance, Business, or related disciplines is preferred.
      • At least nine (9) of relevant experience in a similar work setting (international financial institution, international bank, funds, or other similar institution), or a relevant bachelor's degree with an additional 2 years of relevant work experience.
      • Thorough understanding of macro-economic and political analysis, sector dynamics, financial modelling, equity valuation, legal structuring, and financial instruments and application of this understanding to the analysis of funding proposals and portfolio management.
      • Experience of structuring and documentation of private sector projects with various financial instruments (debt, equity, mezzanine, and guarantee) is required. Experience of fund investments is desirable.
      • Advanced analytical capacity including extensive experience with analytical tools and financial modeling skills.
      • Strong writing and communication skills and ability to work in multi-cultural environments.
      • Developed negotiation skills and ability to seek constructive solutions that achieve optimum risk-reward.
      • Ability to work independently, while adhering to the timelines and quality of deliverables.
      • Professional designation such as FRM or CFA is an advantage.
      • Professional experience in developing countries is an advantage.
      • Fluency in English is essential; knowledge of another United Nations language is an advantage.
        

        The closing date for application is 13 March 2024. 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.