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 200 projects in 141 countries and has committed USD 10 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 Performance and Flows Portfolio Specialist, reporting to Lead Portfolio Management Specialist and ultimately the deputy director of Division of Portfolio Management, will be responsible for coordinating the disbursement and reflows processes to ensure smooth and timely disbursement and monitoring of project funds for GCF funded activities.
Under the guidance and oversight of the Deputy Director of Division of Portfolio Management S/he will actively engage with and provide guidance to AEs to ensure timely fulfilment of financial reporting requirements. S/he will also make crucial contribution to optimization, and improvement of processes, tools and systems for portfolio implementation and risk monitoring. S/he will contribute to various portfolio reports, adaptive management requests and articulate portfolio implementation challenges, emerging risks and lessons learnt.
Duties and responsibilities
Purpose
As the focal point for disbursements, investment income and reflows, coordinate with Accredited Entities and GCF interdivisional teams to ensure smooth and timely processing of disbursements, claims and monitoring/reconciliation of project financial performance and flows related to GCF funded activities in the portfolio.
Contribute to optimization, standardization and improvement of processes, tools and systems for portfolio implementation and monitoring including optimization of online based portfolio performance management system.
Collaborate with Portfolio Specialists, and Interdivisional teams (such as Risk and Compliance) to ensure robust monitoring of project implementation risks including monitoring of projects on watch, providing inputs to the risk dashboard and articulating/communicating emerging risks, challenges and lessons learnt from the portfolio under implementation.
Engagement
Collaborate with internal stakeholders, and proactively provide guidance to AEs to ensure monitoring and compliance with financial and reporting requirements, conditions for disbursements and pertinent covenants in FAA and AMA.
Contribute to interdivisional review of change requests, waivers, extensions and amendment requests from delivery partners and AEs for both private sector and public sector projects.
Contribute to Secretariat-wide/inter-divisional initiatives and represent DPM in internal committees/working groups and external engagements including workshops with AEs and biweekly portfolio status meetings.
Delivery
Coordinate and ensure high service quality to partners with respect to the disbursement process including disbursement projections, fulfilment of FAA/AMA conditions for disbursement, disbursement funds, monitoring of utilization of disbursed funds in funded activities and return of reflows and unused funds.
Prepare, present and contribute to preparation of DPM reports such as annual portfolio performance reports, portfolio status reports, portfolio risk dashboard, and project implementation update reports for consideration by Secretariat Management and Internal Committees/working groups, as well as the Board as may be required.
Collaborate with GCF Finance and DPM Portfolio (Management) Specialists to ensure accurate, complete, and timely capture of projects financial information including annual and semiannual financial reports, disbursements and project expenditure tracking, and reflows and investment income tracking, amongst others.
Be responsible for review of reports, preparation, compilation, and presentation of lessons learned, case studies and best practices, in collaboration with other workstreams and divisions, to inform and improve portfolio identification, implementation and evaluation of GCF projects/programmes as may be required.
Required experience and qualifications
Masters’ degree in finance, business administration, economics, environmental studies, finance, or other relevant field or a relevant Bachelor’s degree with an additional 2 years of relevant work experience.
At least 7 years of relevant working experience.
Ability to work in a multicultural environment with diverse stakeholders at different technical and strategic levels -staff, Board and external stakeholders etc
Understanding of the different financial tools – equity, debt, guarantees and grants is mandatory.
Demonstrated work experience in implementation and monitoring of projects/programs and or complex projects and programs including use of various financial instruments.
Knowledge of, and experience with both public and private sector portfolio management.
Experience in international organizations and/or multilateral development banks is an advantage.
Exposure to/knowledge of climate change projects and/or GCF working modalities is an added advantage.
