World Bank
Job title:
Senior Financial Specialist
Company
World Bank
Job description
Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.The Global Environment Facility (GEF) is a multilateral financial mechanism created in 1991 to provide grant and concessional funds to recipient countries for projects and programs that address biodiversity loss, climate change mitigation and adaptation, degradation of international waters, land and forests, ozone depletion, elimination or reduction of persistent organic pollutants and mercury, all within the framework of sustainable development.The GEF unites 186 countries in partnership with international institutions, civil society organizations (CSOs), and the private sector to address global environmental issues while supporting national sustainable development initiatives. An independently operating financial organization, GEF is the designated financial mechanism for five multilateral environmental conventions: The Convention on Biological Diversity, the Stockholm Convention on Persistent Organic Pollutants, the UN Framework Convention on Climate Change (UNFCCC), UN Convention to Combat Desertification, and Minamata Convention on Mercury. GEF was also recently designated to serve as part of the financial mechanism of the international legally binding instrument under the United Nations Convention on the Law of the Sea on the conservation and sustainable use of marine biological diversity of Areas Beyond National Jurisdiction (BBNJ).Since 1991, the GEF has achieved a strong track record with developing countries and countries with economies in transition, providing $24.7 billion in grants for over 5,700 projects in over 170 countries.The GEF Secretariat is a Vice Presidential Unit (VPU) within the World Bank for administrative purposes and has approximately 70 professional, administrative and client support staff.The Secretariat is seeking a Senior Finance Specialist to support the work of the NGI Senior Expert in the Programming Division with a series of program investments, analytical and policy needs.Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered an initial 2-year term appointment that is renewable based on performance. The selected candidate will report to the Manager of the Programming Division.Blended Finance at the GEFOver many decades, the GEF and its Agencies have successfully used a wide array of non-grant instruments such as debt, equity, and risk-sharing mechanisms such as guarantees to attract private sector investment and deliver global environmental benefits beyond business as usual. The GEF-8 Programming Directions recognized the importance of blended finance and increased the commitment to innovative blended finance solutions. With a four-year funding level of $196 million, the GEF has identified priorities for blended finance that cover environmental conventions requirements and aim for multiple environmental benefits including nature-based solutions.The GEF is accelerating the use of non-grant instruments for blended finance in support of delivering Global Environmental Benefits aligned with focal area objectives with a focus on projects that can reach scale and mobilize financing through capital markets at global and national levels. The new GEF Blended Finance Program and Non-Grant Instrument policy approved in December 2022, added new financial instruments and policy requirements that encourages GEF agencies to submit high quality and innovative proposals in competitive call for proposals on a semi-annual basis.Projects seeking financing from the GEF under the Blended Finance Program need to participate in a competitive process through multiple Calls for Proposals. These are usually launched bi-annually for project selection and approval in GEF Councils review. Blended finance projects receiving financing from the GEF’s Blended Finance Program, are expected to generate investment returns that can repay the GEF Trust Fund and can be used in future programming. The Blended Finance team is also responsible for informing the Council on expected reflows of projects on an annual basis.Duties and Accountabilities:The Sr. Financial Specialist will provide support to the GEF Blended finance coordinator and the Programming Division and work across regions and thematic focal areas, as required. The ideal candidate would have experience in project structuring, blended finance, reflow management and reporting. Financial skills and technical expertise in assessing financial structures and skills in equity, debt and risk mitigation products is required. The candidate would also be familiar with the dynamics of the global environmental finance arena, including international negotiations of the Conventions the GEF serves as financial mechanismSpecific duties include:The candidate will be required to work with the GEF Blended finance coordinator and under the Manager of the Programming Division in the following tasks1. Manage under the supervision of the GEF Blended finance coordinator the biannual call for proposals under the Blended Finance window and contribute to the continued implementation of the Programming Division’s business model. The ideal candidate will coordinate multidisciplinary inputs and liaise with GEF Regional Teams, Focal Area coordinator for input to the Blended Finance project review. The candidate will also coordinate the interactions and advise of the Advisory Group of Financial experts during project review.
2. Perform and manage reviews of project proposals to be financed by the blended finance window according to the agreed project review criteria and GEF Programming directions and provide guidance on major issues involved in the development of project proposals and assist in overall preparation of work programs to be presented to council.
3. Manage the preparation of annual reflow reporting in coordination with the GEF Trustee and GEF Partner agencies. The candidate will be required to review the existing processes for reflow reporting and repayment and seek to make recommendations to improve existing processes and policies when and if necessary.
4. Play an important role in developing blended finance policies and guidelines and support the overall GEF programs Unit to enhance GEFs impact and support the management of GEF’s portfolio of ongoing projects through implementation, monitoring, and evaluation activities with GEF Agencies and countries.
5. Contribute to the GEF replenishment and provide constructive inputs to the new programming and policy reform/directions and any other duties as required ahead of GEF-9.
6. Provide quality inputs to the CEO and senior management on country and thematic briefings, talking points, speeches, analytical/strategic documents.
7. Participate in the GEF work within Regional Teams on GEF issues, including participation in country dialogues, expanded constituency workshops, and other activities under the GEF Country Engagement Strategy. As required represent the GEF at a senior level at selected international; political, business, scientific and operational forums.
8. Undertake additional duties as required by Director of Strategy and Operations and the Manager of the Programming Division in coordination with the Blended Finance Coordinator.Selection Criteria1. A master’s degree in business administration, finance, international development with at least 8 years of relevant professional work;
2. Strong financial skills namely in investment analysis of projects involving debt, equity, guarantees and structured finance.
3. Experience with private sector and blended finance (public and private sector projects). Experience in designing, developing and executing large bilateral and/or multilateral funded projects is a plus.
4. Excellent analytical skills and adeptness of excel spreadsheets, databases, word processing, and web-based skills required. Experience in financial management of projects and reflow reporting.
5. Ability to participate in multi-disciplinary teams and coordinate input from multiple areas inside the GEF Secretariat and outside stakeholders.
6. Ability to work independently on complex tasks on tight deadlines.
7. Demonstrated ability to function as a team player within and across teams.
8. Ability to work in a multicultural environment in an international setting;
9. Working knowledge of the operations of the Global Environment Facility and its Agencies.
10. Excellent verbal and written communication skills in English, including ability to communicate complex issues to a wide range of audiences. Second language (French, Spanish or Portuguese) is highly desirable.
11. Ability to travel.The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.Learn more about working at the and , including our values and inspiring stories.Send to a Friend 1)) && !window.MSStream; if (isIOS) { document.querySelector(‘.careerSiteHeader’).removeAttribute(‘aria-hidden’); document.querySelector(‘.careerSiteFooter’).removeAttribute(‘aria-hidden’); document.querySelector(‘[data-tag=\’dlgChangeLanguage\’]’).removeAttribute(‘aria-hidden’); var siblings = document.querySelector(‘.careerSite’).children; for (var i = 0; i
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Expected salary
Location
Washington DC
Job date
Sat, 04 May 2024 22:47:01 GMT
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