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 192 projects in 123 countries and has committed USD 10.1 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 Senior Treasury Specialist will contribute to Liquidity Risk management, Asset Liability management (ALM), and cashflow monitoring of the Fund in accordance with Funding Risk Policy and Risk Management Framework approved by the Board. S/he will have functional responsibility for undertaking the financial and quantitative analysis on cash investment management and FX hedging solutions to protect the Fund’s assets. S/he will develop and ensure the implementation of the investment strategy to manage cash balance efficiently and to develop and implement the FX hedging documents requested by the Board to lower the financial risk of the GCF’s assets.
Duties and responsibilities
Purpose
Create cash investment strategy and FX hedging solutions to protect Fund’s assets.
Manage liquidity risk of the Fund and ensure adequate liquidity for Fund’s cash transfer needs for the projects approved by the Board.
Engagement
Within the CFO and Division of Support Services, s/he will provide financial solutions and analysis to address complicated issues on currency hedging, liquidity portfolio investment, and interest rate risk management.
Assist in preparing periodic communication and responses to queries/information requests from Senior Management, Board Members on matters related to financial policies, and financial risk management.
Delivery
Undertake financial analysis on specific ALM issues, identifies discrepancies and/or excessive risk levels, and proposes solutions;
Undertake quantitative analytical work, research, and technical studies related to the various aspects of GCF's liquidity investment, FX hedging, and financial policies requested by the Board;
Monitor cash flow, update risk dashboard, and provide support in the related financial matters;
Assist in the preparation of Board papers, and responses to queries on financial issues;
Maintain and ensure implementation of the procedures, data, guidelines and controls to ensure integrity of financial information, and manage financial risks such as interest rate risk, liquidity risk, currency risk, and overall capital adequacy;
Undertake active involvement in the research, brainstorming discussions, editing, and finalization of strategic papers, including Board papers (including FX hedging solutions and Liquidity investment strategy);
Provide financial data to build Risk Dashboard which will be approved by the Board and SMT periodically.
Develop cash portfolio investment instruction under which the Trustee will invest the cash of the Fund efficiently.
Required experience and qualifications
Master’s degree in Finance/Financial Engineering, MBA, CFA (Chartered Financial Analyst certified by CFA institute), FRM (Financial Risk Manager certified by GARP) or an equivalent combination of education and experience.
At least 11 years’ relevant combined experience in an International Financial Institutions (IFIs) and multilateral institution's financial policies with a good understanding of ALM and financial risk management issues, financial accounting and overall. financial operations of Multilateral Development Banks (MDBs) or IFIs.
Strong knowledge of financial instruments including structured equity securities, fixed income securities and derivatives products. Experience in negotiating terms and conditions with MDBs and major private financial institutions is a plus.
Exposure to cross-currency derivatives markets, local currency bond issuances, as well as structured finance transactions covering various asset classes and geographic markets.
Expertise in Treasury application system development, maintenance, and support.
Knowledgeable about financial markets/instruments and how to mitigate relevant financial risk.
Solid understanding of relevant Treasury and policies, guidelines, and reporting formats.
Effective report-writing.
Fluency in English is essential; knowledge of another United Nations language is an advantage.
