Background
Office/Unit/Project Descriptionย
General Assembly Resolution 2186 (XXI) decided to โbring into operations the United Nations Capital Development Fund as an organ of the General Assembly which shall function as an autonomous organization of the United Nations. The UN Capital Development Fund (UNCDF) assists developing countries, especially least developing countries, in the development of their economies by supplementing existing sources of capital assistance by means of grants, loans, and guarantees. UNCDFs vision is to help mobilize and catalyze an increase of capital flows for SDG impactful investments to Member States to address the most pressing development challenges facing vulnerable communities in these countries and thereby contribute to sustainable economic growth and equitable prosperity.ย
UNCDF utilizes its unique capability in the UN system to deploy grants, loans and guarantees to crowd-in finance for the scaling of development impact. UNCDF focuses on where the needs are greatest, a deliberate focus and capability rooted in UNCDFโs unique investment mandate to support the achievement of the 2030 Agenda for Sustainable Development and the realization of the Doha Programme of Action for the least developed countries, 2022โ2031.
As per its Strategic Framework, UNCDF works to deploy its functions as a hybrid development organization and development finance institution. UNCDF responds to Member States requests for assistance by providing targeted technical and financial advisory services on investments for development outcomes, designing bespoke financial structuring solutions, undertaking financial derisking of investments, and enhancing investment readiness of SDG aligned projects in partnership with private sector, UNOs, International and Local Finance Institutions, Development Finance Institutions as well as Foundations and Philanthropy, among others. UNCDF works to develop local financial systems, new markets and mobilize and crowd in capital from public and private sources. UNCDF is driven by a partnership mindset which enables it to deploy its different capital capabilities in highly tailored and responsive ways in order to mobilize investments flows from other sources, in particular from the private sector.ย By structuring transactions which are highly impactful, but also recognize the need for multiplying the impact of its own capital, UNCDF seeks to position itself as a preferred partner for different stakeholders.ย UNCDFโs work is focused on six priority areas, including:
Sub-national and local infrastructure financing Women owned enterprise financing Nature and climate financingย Energy and decarbonization finance ย Sustainable food systems financing Inclusive digital financeFollowing a recent restructuring, UNCDFโs organizational set up includes an Investment and Implementation Division (IID), Investment and Finance Oversight Division (IFOD), Operations and Oversight Division (OOD) and a Directorate of the Executive Office. UNCDF staff and personnel are located in regional hubs based in Dakar (Senegal), Nairobi (Kenya) and Bangkok (Thailand) with sub-regional presence in a number of locations in the Caribbean and Pacific Regions. UNCDF is led by an Executive Secretary based out of New York. Pursuant to General Assembly resolution 2321(XXII, para 1.a), the Administrator of the UNDP performs the function of the Managing Director of UNCDF. UNCDF is overseen by the Executive Board of United Nations Development Programme (UNDP), United Nations Population Fund (UNFPA) and the United Nations Office for Project Services (UNOPS) and performs the function of the Executive Board of UNCDF.
Position purpose
Reporting to the Structuring and Guarantee Advisor (Investment and Finance Oversight Division), the Structuring and Guarantee Specialist will contribute to the deployment of UNCDFโs financial instruments, mainly guarantees. The Specialist will provide oversight and advice to ensure quality and consistency across the organizationโs blended finance operations. The main tasks for the function are the following.ย
1. To provide oversight and ensure quality and consistency in the deployment of guarantees across the organization.
2.ย ย To advise the transaction team about advantages and disadvantages of blended finance instruments focusing on guarantees.
3.ย ย To ensure that the proposed guarantee structures adhere to the principles and best practices of development finance, including additionality, credit risk assessment, mobilization of private finance, financial sustainability, limited market distortion, etc.ย
4.ย By the Structuring and Guarantee Specialist specific competence, the Structuring and Guarantee Specialist is expected to fundraise and attract projects to UNCDF, particularly from other UN agencies such as UNDP, MDB: s and external counterparties.ย
Duties and Responsibilities
1.ย ย ย ย ย ย ย ย ย ย Provide strategic technical direction and leadership
Oversee and manage the rules that regulate the use of UNCDFs blended finance instruments and particularly guarantees. Ensure structuring of guarantees is appropriate to achieve the desired outcome. Ensure adequate consistency and quality is applied across UNCDFs operations. Provide quality control, as needed, on the materials concerning guarantees prepared by the Front Office Transaction team for investment decision. Ensure any use of innovatively designed guarantees is thoroughly vetted and implemented according to defined and approved policies, processes and rules. Assist in method development related to structuring of financial instruments and particular guarantees.2.ย ย ย ย ย ย ย ย ย ย Provide technical oversight and advisory supportย
Provide strategic guidance about how to best use the guarantee instrument in a structure or provide advice when a blended finance instrument is not adequate. Specifically, advise on the design, structure and risk of the blended finance instrument and in particular guarantee transactions in order to maximize the potential of co-financing interest from commercial financiers. This includes building verifying third party models to properly design the de-risking component and structure. Support other UN agencies in understanding how to best use UNCDFs guarantees in their contributions.ย Function as a facilitator between UNDP and UNCDF related to the deployment of financial instruments within UNDP programs. Attract projects to UNCDF, particularly from other UN agencies such as UNDP, MDB: s and external counterparties. Train UNCDF staff on appropriate use of blended finance instruments.3.ย ย ย ย ย ย ย ย ย ย Ensure effective management of operational responsibilities
Responsible for designing new guarantees that the organization needs, including the design of appropriate tools, routines and processes.ย Guide and assist in complex underwriting processes and prepare necessary supporting documents. When needed, assist in complex agreement negotiations related to guarantees.ย Lead or assist in relevant scooping missions(as required). Guide and support the implementation, monitoring and follow up of guarantee transactions.ย4.ย ย ย ย ย ย ย ย ย ย Facilitate knowledge management
Follow the international debate on the use of guarantees in the developing finance community.ย Adopt approaches (reviews, progress reports, performance analysis, etc.) to ensure that the lessons learnt are integrated to improve UNCDFโs investment operations, with a focus on guarantees. Provide advice and guidance in building appropriate infrastructure (policies and tools) to enable UNCDF to deploy different financial instruments efficiently and effectively, with a specific focus on expansion of guarantee and loan operations. Develop training material and train UNCDFโs staff in the use of financial tools, primarily guarantees.The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization.
Institutional Arrangement
The Structuring and Guarantee Specialist will report to the Structuring Guarantee Advisor and both positions are under the Investment and Finance Oversight Division. The incumbent will be required to travel between 1-2 weeks every quarter to UNCDF HQ to improve operational efficiency and collaboration, attain physical presence at key meetings, workshops and team activities to strengthen collaboration and obtain a clearer connection to the team dynamics. Travel to external missions to design and implement project could also be required on regular basis.ย
Competencies
Core Competency
Achieve results:ย ย ย Level 3: Set and align challenging, achievable objectives for multiple projects, have lasting impact.ย
Think Innovatively:ย ย ย Level 3: Proactively mitigate potential risks, develop new ideas to solve complex problems.ย
Learn Continuously:ย ย ย Level 3: Create and act on opportunities to expand horizons, diversify experiences
Adapt with Agility:ย ย ย ย Level 3: Proactively initiative and champion change, manage multiple competing demands.ย
Act with Determination:ย ย ย Level 3: Think beyond immediate task/barriers and take action to achieve greater results.ย
Engage and Partner:ย ย Level 3: Think beyond immediate task/barriers and take action to achieve greater results.ย
Enable Diversity and Inclusion: ย Level 3: Think beyond immediate task/barriers and take action to achieve greater results.ย
Cross-Functional & Technical competenciesย
Thematic Areaย Nameย ย Definition
Business Direction & Strategy - Negotiation & influence
Reach a common understanding /agreement, persuade others, resolve points of difference through a dialogue, negotiate mutually acceptable solutions and create โwin-winโ situations results.ยBusiness Direction & Strategy - System Thinkingย
Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system.2030 Agenda: Partnerships - SDG Finance
Blended Finance for the SDGs.Business Management - Risk Management
Identify and organize action around reducing, mitigating and proactively managing risks.ยBusiness Management - Monitoring and Evaluation
Ability to systematically monitor results of strategies, programmes, and activities with a view to make sure that they are being implemented effectively; Ability to provide managers and key stakeholders with regular feedback and reporting on the consistency or discrepancy between planned activities and programme management and results. Ability to make independent judgment of the management and results of strategies, programmes and activities based on set criteria and benchmark, keeping in mind the needs and concerns of client, current and upcoming. Knowledge and understanding of monitoring and evaluation frameworks, concepts, methodologies, systems, processes, and tools. Ability to make an independent judgement based on set criteria and benchmarks. Ability to anticipate client's upcoming needs and concerns.Partnership Management - Relationship Management
Ability to engage with a wide range of public and private partners, build, sustain and/or strengthen working relations, trust and mutual understanding.2030 Agenda: Partnerships - SDG Finance
SDG Impact Management and Finance Tracking.Required Skills and Experience
Minimum Education requirements
An advanced university degree (Masterโs degree or equivalent ) in Economics, Finance, Statistics, Business Administration,ย or related field is required. or A first-level university degree (bachelorโs degree) in the areas stated above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree.Minimum years of relevant work experienceย
A minimum of 7 years (with a masterโs degree) or 9 years (with a bachelorโs degree) of experience within a financial institution, development cooperation agency or development financial institution related to underwriting and credit assessment is required.ยRequired skills
Experience working with development finance, private finance, capital markets, and/or private sector in financial instruments, with a focus on guarantees or derivatives is required.ย Experience working in more than one geographic region, ideally Africa and/or Asia is required.ยDesired skills in addition to the competencies covered in the Competencies section
Experience working as a Risk Officer with method development responsibilities related to credit risk preferably at financial institution or governmental financial institution, within regulatory institution or as a credit analyst at a large rating agency is regarded as an asset. Experience in advising UNDP Hubs and country offices or other UN agencies on sustainable finance with a focus on guarantees is advantages. Experience in issuing and managing guarantees within the development space to mobilize additional capital and enhance financial inclusion is desired.ย Experience in commercial lending and design of guarantees is desired. Experience in a Financial Supervising Authority and understanding of banking regulatory frameworks is desired.ย Proven ability to think strategically and with innovation, including working across multi-disciplinary groups is desired.ย Experience in broad-based convening, dialogue processes, and partnership building is desired. Experience of UNDP private sector operations is an asset.ย Experience in working with and/or managing multi-cultural teams across geographies is desired.ยRequired Language(s)ย
Fluency in English is required.ย Working knowledge of another UN Official language is an asset.The following documents shall be required from the applicants:
a)ย ย ย ย ย ย ย ย ย ย Personal CV or P11, indicating all past positions held and their main underlying functions, their durations (month/year), the qualifications, as well as the contact details (email and telephone number) of the Candidate, and at least three (3) the most recent professional references of previous supervisors. References may also include peers.
b)ย ย ย ย ย ย ย ย ย ย A cover letter (maximum length: 1 page) indicating why the candidate considers him-/herself to be suitable for the position.
c)ย ย ย ย ย ย ย ย ย ย Managers may ask (ad hoc) for any other materials relevant to pre-assessing the relevance of their experience, such asย reports, presentations, publications, campaigns or other materials.
Equal opportunity
As an equal opportunity employer, UNDP values diversity as an expression of the multiplicity of nations and cultures where we operate and, as such, we encourage qualified applicants from all backgrounds to apply for roles in the organization. Our employment decisions are based on merit and suitability for the role, without discrimination.ย
UNDP is also committed to creating an inclusive workplace where all personnel are empowered to contribute to our mission, are valued, can thrive, and benefit from career opportunities that are open to all.
Sexual harassment, exploitation, and abuse of authority
UNDP does not tolerate harassment, sexual harassment, exploitation, discrimination and abuse of authority. All selected candidates, therefore, undergo relevant checks and are expected to adhere to the respective standards and principles.ย
Right to select multiple candidates
UNDP reserves the right to select one or more candidates from this vacancy announcement.ย We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements.
Scam alert
UNDP does not charge a fee at any stage of its recruitment process. For further information, please see www.undp.org/scam-alert.
ย