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Financial Management Officer, Funded/Readiness Portfolio

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Date: Sep 19, 2022

Location: Incheon, South Korea (ICN), KR

Company: Green Climate Fund

Grade: IS - 2

Deadline: 10 October 2022 (11:59 PM KST)

Location: Songdo, Incheon, South Korea

Job Category: International

Salary: USD 87,700 net (plus attractive benefits, that include the following allowances (as appliable): Relocation, dependency, education assistance and home country travel)

 

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 Management Officer reports to the Senior Financial Management Specialist in the Department of Support Services (DSS) and is responsible for managing all aspects of the financial management in relation to the GCF Funded or Readiness projects.  S/he works in close collaboration with the other divisions/ offices in the Secretariat specifically with the Division of Mitigation and Adaptation (DMA), Private Sector Facility (PSF), Division of Portfolio Management Unit (DPM), Division of Country Programming (DCP) and Office of Risk Management and Compliance (ORMC).

 

Duties and responsibilities

Purpose

  • Carry out second level due diligence on the Funding Proposals (FP) or the Readiness and Preparatory Support Progamme (RPSP) proposals to ensure that submitted projects demonstrate adequate financial management, audit and reporting capacity.

  • Support the financial management, review, and monitoring of FP proposals under implementation.

  • Optimizing relevant processes related to the FP review and project financial performance review and creating sustainable solutions for an increasingly complex portfolio.

 

Engagement

  • Collaborate with the internal stakeholders (DMA, PSF, ORMC, DCP and DPM) 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.

  • Support negotiations with external stakeholders as they access the Fund’s resources, and provide financial analysis and technical advice on FM related activities in line with GCF objectives.

  • Improve the operational efficiency of the review process, by providing support for the development, implementation, and refinement of financial tools, templates, and automation, including guiding DPM in the development and implementation of financial templates.

 

Delivery

  • Prepare timely and concise analytical report/feedback on the project budget and provide guidance to the stakeholders.

  • Prepare review and analyses of AE Fee to ensure its compliance with GCF Policies and check for reasonableness.

  • Support negotiations of the Term Sheets, Funded Activity Agreements and contributes to the operationalization of the funding proposals.

  • Prepare the review and analysis of the annual performance reports and the financial reports submitted by the Accredited entities.

  • Support the development and maintenance of databases and websites containing relevant information on GCFs FM knowledge products and activities.

  • Coordinate and represent Finance Unit in Secretariat wide initiatives, Committees and policy development.

  • Work on additional operational tasks as assigned by the Senior Financial Management Specialist.

 

Required experience and qualifications*

  • Minimum of Master’s Degree in finance, accounting, economics or related fields. A Bachelor’s Degree in a relevant field with additional 2 years of relevant experience may be accepted in lieu of the Master’s Degree requirement

  • A minimum of 4 years of relevant experience in financial resource management, accounting, and project/grant portfolio management, with strong analytical skills.

  • Proven experience in collaborating with diverse, internal and external stakeholders and partners in the implementation of capacity building, or climate change, or sustainable development projects in developing countries.

  • Ability to be agile and work collaboratively in a fast-changing, multicultural environment with diverse stakeholders at different technical and strategic levels– staff, Board, and external stakeholders.

  • Integrity and adherence to the highest ethical standards.

  • Relevant work experience with international organizations is a distinct advantage.

  • Fluent written and oral communication skills in English are essential for this position.

  • Knowledge of another UN language is 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.