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Head of Risk Management and Compliance

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Date: Jul 25, 2022

Location: Incheon, South Korea (ICN), KR

Company: Green Climate Fund

Grade: IS - 7

Deadline: 11 September 2022 (11:59 PM KST) 

Location: Songdo, Incheon, South Korea

Salary: USD 175,600 net (plus attractive benefits, that include the following allowances (as appliable): Relocation, housing, dependency, education assistance and home country travel)

 

Recruitment for this position will be managed by an External Recruitment Firm.

 

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 196 projects in 123 countries and has committed USD 10.4 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 Head of Risk Management and Compliance is responsible for leading the Office of Risk Management and Compliance (ORMC) in:

  • Its development and management of comprehensive risk, compliance and sustainability frameworks, policies and processes;
  • Its identifying and addressing actual and potential risks affecting GCF; and
  • Its review of proposed and actual GCF investments to ensure that they are within the Fund’s risk tolerances and comply with the Fund’s compliance and sustainability policies

Effective budgeting, deployment and management of the Fund’s resources towards attainment of the Fund’s objectives. 

 

Duties and responsibilities

Purpose

  • Lead Risk, Compliance and Sustainability teams to support GCF’s operations by developing and managing frameworks, policies and processes that meet international best practices in their own fields whilst providing GCF with clear and coherent protection against actual and potential risks.
  • Lead and coordinate ORMC’s review of proposed and actual GCF investments to ensure that they are within the Fund’s risk tolerances and comply with the Fund’s compliance and sustainability policies.

 

Engagement

  • Advise the SMT and GCF board on current and emerging risks across all areas of the Fund’s work in order to collaboratively develop and implement organization-wide strategies.
  • Represent the areas of Risk, Compliance and Sustainability to internal and external stakeholders in order to build GCF’s reputation as a dependable organization capable of assessing and managing risk.
  • Model and champion the GCF core values and appropriate work culture by creating an environment where people are properly engaged, valued, managed and supported to contribute to the Fund’s mission.

 

Delivery

  • Lead development and implementation of risk, compliance and sustainability frameworks, policies and processes.
  • Identify risks as they are emerging and ensure that teams in ORMC and elsewhere in the Secretariat are enabled to address them.
  • Oversee the people management processes in line with the Fund’s policies and expected standards.

 

Required experience and qualifications*

  • 15 years or more experience relevant experience in managing risk, compliance, environmental sustainability, audit, etc. at least seven (7) years should be in Senior Management position with functional/divisional oversight.
  • Relevant experience in climate finance, compliance management, and/or sustainability in multilateral funds, International Financial Institutions or Multilateral Development Banks
  • Master’s or higher-level degree with relevant professional qualifications;
  • Track record and experience in managing people and teams including managing performance and accountability for work and behaviors
  • Experience working in a fast-paced environment
  • An understanding of the UNFCCC framework, is an advantage;
  • Fluent written and oral communication skills in English are essential for this position; knowledge of another UN language an advantage.
  • The following managerial competencies are required for success in this position

 

Leadership

  • Serves as a role model that other people want to follow.
  • Empowers others to translate vision into results.
  • Is proactive in developing strategies to accomplish objectives.
  • Establishes and maintains relationships with a broad range of people to understand needs and gain support.
  • Anticipates and resolves conflicts by pursuing mutually agreeable solutions.
  • Drives for change and improvement, does not accept the status quo.
  • Shows the courage to take unpopular stands.

 

Empowering others

  • Delegates responsibility, clarifies expectations and gives staff autonomy in important areas of their work.
  • Encourages others to set challenging goals.
  • Holds others accountable for achieving results related to their area of responsibility.
  • Genuinely values all staff members’ input and expertise.
  • Shows appreciation and rewards achievement and effort.
  • Involves others when making decisions that affect them.

 

Managing performance

  • Delegates the appropriate responsibility, accountability and decision-making authority.
  • Makes sure that roles, responsibilities and reporting lines are clear to each staff member.
  • Accurately judges the amount of time and resources needed to accomplish a task and matches task to skills.
  • Monitors progress against milestones and deadlines.
  • Regularly discusses performance and provides feedback and coaching to staff.
  • Encourages risk-taking and supports staff when they make mistakes.
  • Actively supports the development and career aspirations of staff.
  • Appraises performance fairly

 

Building trust

  • Provides an environment in which others can talk and act without fear or repercussion.
  • Manages in a deliberate and predictable way.
  • Operates with transparency, has no hidden agenda.
  • Places confidence in colleagues, staff members and clients.
  • Gives proper credit to others.
  • Follows through on agreed upon actions.
  • Treats sensitive or confidential information appropriately.

 

Judgement / decision making

  • Identifies the key issues in a complex situation, and comes to the heart of the problem quickly.
  • Gathers relevant information before making a decision.
  • Considers positive and negative impact on others and on the Fund.
  • Proposes a course of action or makes a recommendation based on all available information.
  • Checks assumptions against facts.
  • Determines that the actions proposed will satisfy the expressed and underlying needs for the decision.
  • Makes tough decisions when necessary

 

*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.