Grade: IS-5
Deadline: 09 July 2023 (11:59 PM KST)
Job Category: International
Salary: USD 138,750 net (plus attractive benefits), that include the following allowances (as applicable): 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 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 Division of Support Services (DSS) is seeking an experienced Economic and Sustainable Finance Manager to manage the development of cutting-edge analytical and enhancement of existing and creation of new financial instruments and internal analytics. These instruments may encompass a wide range of options such as guarantees, insurance, carbon offset credits, debt, equity, and digital currencies. This individual will have a crucial role in knowledge sharing and will utilize data science, machine learning, and algorithms to assess market trends and impact analysis. Additionally, the candidate will create and maintain reports on the economic outlook, providing valuable market insights for senior management and contributing to updates on financial tools. Moreover, the specialist will conduct internal analysis on key performance indicators (KPIs) within the organization, aiming to unlock greater effectiveness and efficiency. This role is not academic in nature, but rather a practical, real-world opportunity for a qualified candidate who can showcase their creativity and expertise in the field. The ideal candidate should have a comprehensive understanding of economic and sustainable finance principles and possess the ability to effectively communicate modeled outputs to individuals with diverse skill sets within the organization. This is not an academic position but rather a hands-on, real-world opportunity for the right candidate who can demonstrate creativity and expertise in their field, possesses a strong understanding of economic and sustainable finance principles and can easily articulate modeled outputs across an organize with various skills sets. This position reports directly to the Head of Financial Analysis and Product Innovation.

Duties and Responsibilities

Purpose

• Provide financial and economic input into investment and assessment-related policy documents, operational guidelines, reports and tools;
• Remain updated on and communicate financial and economic trends and forecasts relevant for the Fund;
• Support research, relevance, and development of new financial instruments and enhance existing structures to support the mandate and construct of the Fund;
• Contribute to the development of working papers, guidelines, algorithms, strategy notes, and policies related to climate finance and economic analysis.

Engagement

• Advise on project impacts to overall portfolio and balance sheet and on specific projects as needed;
• Develop reports of economic outlook and support Senior Management on presentations and conference materials;
• Work closely with Financial Management, Financial Policy, Treasury and Programming teams to ensure appropriate modeling across the project appraisal lifecycle;
• Remain up-to-date and develop network with peer organizations

Deliver

• Offer technical expertise in conducting economic and financial cost-benefit analyses.
• Provide technical expertise in the assessment of economic and financial cost-benefit analysis;
• Establish standardized methodologies and data collection techniques to inform the development and improvement of tools.
• Develop and maintain economic and financial models for the formulation of Financial Terms and Conditions in projects.
• Contribute to the evolution of existing financial instruments and the development of new ones, such as guarantees, insurance, carbon offset credits, debt, equity, and digital currencies.
• Conduct internal analysis on key performance indicators (KPIs) within the division to enhance effectiveness and efficiency.
• Implement data science projects that support sustainable finance, including activities related to resilience, effectiveness, and efficiency.
• Utilize analytical skills to support technical advisory services for specific investments, risk analysis, and model-based assessments of climate finance impact focusing on the regions of interest to the Fund and its partners.

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

• A Master’s degree or higher in economics, finance, data science, or a related field.; or a Bachelor’s degree and 2 additional years of professional experience.
• A minimum of 11 years of proven experience and profound knowledge in sustainable finance, climate-related matters, modeling, economics and machine learning.
• Demonstrated experience in developing and managing at least three of the following financial instruments: credit guarantees, parametric and insurance lined securities, carbon offset credits, debt, equity, and digital currencies.
• Strong analytical skills, with the ability to assess market trends, conduct economic analysis, and provide actionable insights.
• Excellent written and verbal communication skills, with the ability to create comprehensive reports and effectively present complex information to various stakeholders.
• Proven ability to work collaboratively in a team-oriented environment and build strong working relationships across departments.
• Strong organizational skills and the ability to manage multiple projects and priorities simultaneously.
• Familiarity with key performance indicators (KPIs) and their relevance to organizational effectiveness and efficiency.
• Strong competence and autonomy in the use of standard software programs: Excel, Word, PowerPoint, and Outlook; and
• Fluency in English is essential; knowledge of another United Nations language is an advantage.

The closing date for application is 09 July 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.