Grade: IS - 5

Deadline: 8 March 2021 (11:59 PM KST)

Location: Songdo, Incheon, South Korea

Contract Length: 3 years

Entry Salary: USD 128,600

The mission of the Green Climate Fund is to assist developing countries to respond to climate change while bringing prosperity to their peoples.

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 111 projects in 99 countries and has committed USD 5.0 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 Financial Management Senior Specialist, who reports to the Head of Finance, is responsible for managing the financial management aspects of the GCF projects. In co-ordination with the Division of Mitigation and Adaptation (DMA), the Private Sector Facility(PSF), and the Division of Country Programming (DCP), s/he will lead the review of the Funding proposals, readiness, PPF proposals to ensure proper financial management and reporting arrangements are in place.  In co-ordination with the Office of Portfolio Management (OPM), s/he will lead the monitoring of the funding proposals, readiness and PPF. S/he will also lead the team in discussions/ negotiations of the financial management aspects of the project with the accredited entities and the delivery partners. 

Duties and responsibilities

Purpose

• Leading the process of the second level due diligence of the funding proposals, readiness and PPF proposals. Negotiating agreements with the Accredited Entities and managing strong relationship with the various stakeholders. 
• Optimizing relevant processes related to the funding proposal review and project financial performance review and creating sustainable solutions for an increasingly complex portfolio. 

Engagement

• Engages with the DMA, PSF, DCP and OPM, for the appraisal of funding proposals, ensuring that finance guidance and observations are properly captured and the requirements on financial reporting and controls are adequately addressed in AMAs/FAAs. 
• Educate the Fund’s partners and engage with partners for the negotiation of various agreements and key finance-related terms of the projects.
• Builds and maintains strong and motivated team.

Delivery

• Improve the operational efficiency to the funding proposal review and performance report review,  by defining and implementing the data automation in line with the best practices in the industry.    
• Reviews and analyses funding proposal and provides guidance on the financial management aspects of the project including : 
  • Analyses the Accredited Entity’s fees proposals and provide necessary recommendations to the management, internal committees and the project teams. 
  • Assesses and negotiates the Term Sheets, Funded Activity Agreements and contributes to the operationalization of the funding proposals; evaluate readiness proposals, PPF and NAPs funding proposal.
  • Analyses the budget submitted by the Accredited Entities, critically reviews them in co-ordination with the task managers and provide guidance to the stakeholders. 
• Leads the process of the review and analysis of the annual performance reports and the financial reports submitted by the Accredited entities. 

Required experience and qualifications*

• Master’s degree in Commerce, Finance, Economics or advanced Accounting or professional Accounting/Finance qualifications (CPA/CA/CFA) or a relevant Bachelor’s degree with an additional 2 years of relevant work experience. 
• 11 years or more in mid/senior level in financial management and accountancy experience, with strong analytical skills.
• Proven success in collaborating with diverse, internal and external stakeholders and partners. 
• At least 5 years of prior personnel management experience.
• Knowledge of quantitative, qualitative and text analysis methods.
• Relevant work experience with international organizations as staff, consultant or contractor is a distinct advantage.
• Fluent written and oral communication skills in English are essential for this position; knowledge of another UN language an advantage.

 *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.