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International Data Analyst
|Location :||Chisinau, MOLDOVA|
|Application Deadline :||24-Oct-18 (Midnight New York, USA)|
|Type of Contract :||Individual Contract|
|Post Level :||International Consultant|
|Languages Required :||English|
|Starting Date :|
(date when the selected candidate is expected to start)
|Duration of Initial Contract :||1 November 2018 - 15 December 2018, up to 15 working days|
|Expected Duration of Assignment :||1 November 2018 - 15 December 2018, up to 15 working days|
A social impact bond (SIB) is a fairly new result-based financial instrument of impact investing, where outcome payers agree to pay and reward investors only if upon agreed outcomes are achieved. The idea is to engage private capital in funding viable social/environmental/development projects with a potential of a financial return. Public institutions agree that if the bond succeeds in achieving the agreed outcomes, the investors will get their capital back plus a financial return. The financial return is dependent on the degree to which outcomes improve the initial situation. Typically, SIBs have been designed to help reform public service delivery.
Impact investing opens up an innovative way to engage private sector to bolster global sustainability further, together with public sector and service providers. It creates incentives for service providers to improve their performance through results-based contracting where the impact of the services has to be measurable. Also, it transfers the financial risks from public sector to the investor, as the outcome payers (usually the government or municipality) agree to pay and reward investors only if outcomes are achieved. Thus, taxpayer’s monies will only pay for proven successful social interventions.
The first SIB was launched in 2010 in the UK and, as of now, over 100 SIBs have been commissioned across Europe, Australia, Canada and the United States. SIBs have raised over $750m of capital and touched over 90,000 lives. Almost half of the SIBs focus on employment, while others are covering areas such as health, homelessness, child welfare, education and criminal justice. There is a strong focus on preventive and early intervention measures.
According to the most recent data from PISA report, Moldova finds itself at the bottom of world rankings in terms of innovation and education. Investing in education is particularly important in today’s global realities when humanity is undergoing fundamental transformations. In fact, the mankind has already entered the so called Fourth Industrial Revolution, also known as the Digital Revolution where almost all processes, systems and mechanisms are operating based on digital programs, and the possibilities are multiplied in an unprecedented rhythm by Robotics, Artificial Intelligence and nanotechnologies. Moreover, today’s economic realities demand more and more creativity, abstract thinking, empathy and many other aspects of emotional intelligence.
UNDP Moldova intends to pilot a SIB mechanism to finance social outcomes concerning primary and secondary education in Moldova. The primary outcomes will focus on building ICT skills in schools, on one hand, and capacity building for teaching these skills to school teachers, on the other.
The project will utilize outcome-based contracting and SIBs as a financial instrument to deliver the set outcomes. As part of this activity, UNDP intends to:
Duties and Responsibilities
To support the development of the alternative financing mechanisms focusing on “payment by results” concept and model the impact and ROI for the SIB instrument targeting education outcomes in public schools.
b) Scope of work
Under the overall coordination of the UNDP Policy Specialist and International SIB Expert, the International Data Analyst will provide impact investment advisory and undertake all impact and financial modelling related to the project/ business case, as follows:
Required Skills and Experience
UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.
UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.