Climate Equity Funds Manager

Grade: IS - 5

Deadline: 1 July 2021 (11:59 PM KST)

Location: Songdo, Incheon, South Korea

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 190 projects in 123 countries and has committed USD 8.4 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 Green Climate Fund’s (GCF) Private Sector Facility (PSF) is the private sector investment division which provides equity, debt, guarantees, and technical assistance for climate change projects, programmes, and funds to support climate impact in developing countries. It currently has a portfolio of 34 projects and has committed USD 2.8 billion, including by supporting the mobilization of finance across mitigation and adaptation with private equity funds.  The Climate Equity Funds Manager will report to the Director of PSF and will contribute to deepening private equity funds expertise within PSF, responding to the GCF Secretariat’s increasingly demanding requirements on working with both international and direct access local private sector actors in the developing world. In addition, he or she will work closely on related market based and other innovative projects to support development of GCF’s private sector mandate.

Duties and responsibilities

Purpose

• Be responsible for the overall direction, business strategy, origination, and execution of the GCF private equity funds and other vehicles using a fund’s structure.
• Be responsible for leading the negotiations, structuring, investment and exits of the private equity funds and other fund programs at the GCF;
• Provide technical and though leadership in engaging global and local funds to create climate compatible portfolio in line with GCF’s objective of supporting developing countries towards low emissions and climate resilient development.
• Support wider initiatives associated with development of GCF’s private sector mandate and contribute to other PSF investment activities.   

Engagement

• Establish and maintain positive relationships within the Secretariat, with National Designated Authorities (NDAs), Accredited Entities (AEs), key private sector players in developing countries and globally to generate on-going strong projects and programs that meets GCF’s investment framework- focusing on climate impacts and paradigm shift;
• Be responsible for managing complex and multi stakeholder relationships at the local and global stage; and responsible for co-creating and managing large thought leadership networks for GCF.
• Manage and develop a team of Climate Funds professionals

Delivery

• Take the lead and be responsible for periodic Requests for Proposals (RFPs) and other modalities of deal sourcing and direct access private sector- and work with other colleagues in implementing the RFPs successfully.
• Act as quality control in sourcing and structuring the right climate investments that are high quality based on the Fund’s investment criterion.
• Manage the engagement, due diligence, negotiation, and delivery of funding proposals for high quality impact, including the internal approval process.

Required experience and qualifications*

• Master’s or higher degree in business administration, economics, finance, environmental sciences, engineering or related fields or or a Bachelor's degree plus 2 additional years of experience.
• Minimum 11 years of fund structuring expertise such as private equity, private debt, blended structures, venture capital, special situation, mezzanine, listed and other investment vehicles using a fund’s approach.
• Strong track record in sourcing, structuring and managing the funds to exit. The candidate needs to show a proven deal sheet of successful negotiations, closure and exit of private equity funds in least developed countries and Small Island Developing States and other climate fragile countries.
• Proven track record of managing complex and multi stakeholder relationships at the global stage; and demonstrated ability to manage key relationships within and outside GCF;
• Strong knowledge in negotiating deal term sheets, ideal private equity terms, private placement memorandums, limited partnership documents, regulatory requirements, compliance, and excellent business acumen of doing business in developing countries.
• Strong supervisory skills and track record in managing careers of junior staff;
• Possess a high level of integrity, professionalism and client management skills (internally and externally);
• Excellent communication and teamwork skills.
• Willingness and ability to travel as needed; and
• Excellent 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.