Background

As part of UNDP’s new Strategic Plan, development finance has a central role to play in delivering support to our country members, in leveraging new sources of capital, and in innovating for long term solutions to challenges around climate change, disaster resilience, and fragile ecosystems. 

One part of the strategy to address these challenges is the SDG Impact initiative which was launched on 25 September 2018 at the General Assembly by the UNDP Administrator Achim Steiner. SDG Impact seeks to refine UNDP’s offering to the private sector by launching a new platform that would provide investors (financial and corporate), with clear guidance, tools, and insights to catalyze and leverage SDG aligned investments. By promoting the development and adoption of universally agreed standards for SDG-enabling investment and supporting private sector actors to meet those standards, UNDP can catalyze much-needed private capital in support of the achievement of the SDGs. 

Impact investments can contribute to the fulfilment of all the SDGs especially in increasing access of SMEs to financial services as well as including them in value-chains and capital markets, however accessing the right structures to facilitate investment for these enterprises is difficult both because they venture into challenging low-income markets and are experimenting with new business models.  Use of development finance and philanthropic funds to attract private capital and bringing together different stakeholders that partner in a fund or transaction through blended finance is one solution, which UNDP is interested in further exploring through this Consultancy. This includes work on new initiatives as well as for projects at a critical state where guidance in coordination, data gathering and synthesis and the preparation of documents in order to secure a successful outcome is needed. 

Similarly, tools like blended finance, results based financing and innovative structures using insurance, can leverage needed capital for solving complex challenges—like cholera in Haiti or protecting coral reefs--in creative ways. Importantly, this knowledge should be shared within the organization and capacitate UNDP internally, while building new partnerships externally. Underpinning these tools, the field of impact investing provides a conduit to identifying, scaling, and replicating solutions in financially, socially, and environmentally meaningful ways.

The Development Finance Consultant will support UNDP in developing and implementing these initiatives, including work on SDG Impact, determining the feasibility, usefulness and positioning of impact investment opportunities including results based financing and blended finance initiatives. In addition to identifying existing opportunities and capacity in house, the Consultant will support the sharing and transfer of knowledge within the organization. The Consultant will work on innovative insurance initiatives like natural capital-based structures, and support translating these skills into NDC delivery at the country level.  

Duties and Responsibilities

Contribute to the SDG Impact Initiative, with a focus on supporting country intelligence reports for investors (1-2 days/week)

• Support the development of the Country Mapping report standardized methodology.
• Provide technical support to Country Offices in the development of content for the reports.
• Carry out analysis of content across pilot COs and assist with ensuring quality and cohesiveness, proposing concrete suggestions and edits.
• Support the team and Country Offices (from Geneva) in developing content for country and regional investor convenings.
• Aligning SDG Impact Country Mapping/target outcomes with NDC Delivery.

Deliverables:

1. Suggestions for standardized Country Mapping reports, including examples from SDG Impact pilot countries, focusing on investment (by March 2019).
2. Draft impact investing-facing content for at least three pilot Country Mapping reports (to be completed with the CO, other team members, and contractors) (by May 2019).
3. Analysis of draft content provided by pilot countries, with suggestions/edits (by June 2019).
4. Proposal of agenda and potential content for investor convenings, based on work of pilot countries (by July 2019).

Embedding of Development Finance Capabilities in-house and Implementation of UNDP Investment-focused Priorities (1-1.5 day/week)

• Contribute in general to UNDP’s broad financing and investment work when required, in terms of networks, opportunities and partnerships, including supporting both global facing and country focal point activities.
• Support UNDP’s growing work on NDC investment and financing, focusing on the increasing integration of investment, natural capital, resilience and insurance and drive a workstream that integrates these components into UNDP’s overall NDC investment and financing work.
• Using development data to drive new business lines—for example working with ratings agencies to inform resilience as a credit factor.

Deliverables:

1. Draft long-term finance capabilities for UNDP that are needed to provide services (by March 2019) focusing on development finance expertise and bringing this together under one umbrella 
2. Prepare a workplan for 2019-2020 to position UNDP as a leader on NDC investment and financing work in this space, building on an existing draft prepared in 2018 (finalize plan by March 2019.) Further deliverables will be agreed through adaption of the plan.
3. Create and manage key private sector relationships to drive the agenda forward (continuous).
4. Scope new corporate opportunities for UNDP building on existing resources, like our development data (by May 2019).

 Developing Results-Based Financing Pilots (1-1.5 day/week)

• Help UNDP/United Nations in developing results-based financing, pay-for-success and other outcome-based mechanisms, beginning with the Haiti Cholera Impact Initiative;
• Expanding the lessons learned from the Haiti initiative to other opportunities identified within the UN system and project managing these where required (for example, Caribbean housing); and
• Enhance UNDP’s overall work on natural capital, risk and resilience, as part of this work, lead the Reef to Resilience (R2R) initiative which integrates insurance, investment, natural capital and livelihoods as a first of its kind programme.

Deliverables:

1. Internal management and coordination of Haiti Cholera Impact Initiative (continuous, milestones in January, March, and June 2019).
2. Identifying viable results-based financing opportunities in-house and jointly develop pilots (continuous).
3. As part of this overall set of deliverables, drive the five-month delivery plan connected with the UNDP Innovation funding for the R2R initiative.

Competencies

Technical

• Deep knowledge of impact investing and development finance: including an understanding of market dynamics, landscape of actors, and factors driving the evolution of the strategy;
• Data gathering and presentation: proven ability to monitor, measure, evaluate and report impacts and understand how to synthesize results for clear presentations to non-expert audiences;
• Investment credentials, ideally having served in an investment advisory or portfolio management capacity;
• Proven blended finance product structuring ability and experience in working on results-based financing instruments;
• Delivering impactful results within the UN system, recognizing how to innovate and deliver based on the opportunities and confines of the UN;
• Building and maintaining new and existing client/partner relationships effectively;
• Strong track record in project management with UNDP or UN experience being an asset; and
• Proven experience in the developing country context and working in different cultural settings.

Functional

• Self-starter, proven ability to work independently and in an entrepreneurial setting;
• Strong motivation and ability to work and deliver under pressure and short deadlines;
• Good interpersonal skills and able to coordinate well with UNDP partner agencies;
• Proficiency in Excel;
• Strong presentation skills;
• Promotes a knowledge sharing and learning culture in and outside UNDP; and
• Respectful of the mandates and roles of different partners, particularly government supported institutions and is able to build and sustain productive and mutually beneficial partnerships.   

Corporate

• Demonstrates integrity and fairness, by modeling the UN/UNDP's values and ethical standards;
• Promotes the vision, mission, and strategic goals of UN/UNDP; and
• Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability.

Required Skills and Experience

Required Skills and Experience:

Education

• Master’s degree in finance, economics, development finance or closely related field.
• Supplementary financial certification(s) (i.e. CFA, CAIA, CPA) required.

Experience

• Minimum 8 years of progressive experience in investing, impact, environmental finance and/or structuring related work.
• At least 8 years’ experience working with complex projects and data sets and synthesizing them to build partnerships, present to Board level meetings, and mobilize resources.
• At least 4 years’ proven track record in structuring blended finance instruments.
• At least 6 years’ experience measuring, evaluating and reporting on impact.
• At least 5 years’ experience working in a development finance context in emerging markets.
• At least 7 years’ experience working with startups—in an advisory, incubation, or operational capacity.
• Familiar with UN/UNDP system, policies and procedures

Languages

• Fluency in English is a requirement.
• Knowledge of an additional UN language is an asset.

Application Procedure

Technical Proposal

Submit the technical proposal application package containing the following (to be uploaded as one file):

1. Online application with brief description of why the Offeror considers her/himself the most suitable for the assignment; and
2. Personal CV, indicating all past experience from similar projects and specifying the relevant assignment period (from/to), as well as the email and telephone contacts of at least three (3) professional references.
3. A Financial Proposal is to be emailed as per the instruction in the separate email that will be sent to shortlisted candidates.

Note: The above documents need to be scanned in one file and uploaded to the online application as one document.

Financial Proposal:

Note, only applicants who have passed the technical evaluation with a quantum score of 70% will be contacted to submit a Financial Proposal.

• The financial proposal should specify an all-inclusive daily fee (based on a 7-hour working day - lunch time is not included - and estimated 21.75 days per month).
• The financial proposal must be all-inclusive and take into account various expenses that will be incurred during the contract, including: the daily professional fee; cost of travel from the home base to the duty station and vice versa, where required; living allowances at the duty station; communications, utilities and consumables; life, health and any other insurance; risks and inconveniences related to work under hardship and hazardous conditions (e.g., personal security needs, etc.), when applicable; and any other relevant expenses related to the performance of services under the contract.
• Any unforeseeable travel agreed between UNDP and Individual Consultant, will be supported by the project travel fund and will be arranged according to UNDP entitlements and travel policy. Costs for airfares, terminal expenses, and living allowances should not be included in financial proposal.
• If the Offeror is employed by an organization/company/institution, and he/she expects his/her employer to charge a management fee in the process of releasing him/her to UNDP under a Reimbursable Loan Agreement (RLA), the Offeror must indicate at this point, and ensure that all such costs are duly incorporated in the financial proposal submitted to UNDP.

The Financial Proposal is to be submitted by email as per the instructions in a separate email that will be sent to shorlisted candidates.

Evaluation process

Applicants are reviewed based on Required Skills and Experience stated above and based on the technical evaluation criteria outlined below.  Applicants will be evaluated based on cumulative scoring.  When using this weighted scoring method, the award of the contract will be made to the individual consultant whose offer has been evaluated and determined as:

• Being responsive/compliant/acceptable; and
• Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation where technical criteria weighs 70% and Financial criteria/Proposal weighs 30%.

Technical evaluation - Total 70% (700 points):

• Criteria 1. Demonstrated understanding of impact investing and development finance. Weight = 20%; Maximum Points: 200;
• Criteria 2. Evidenced investment credentials, ideally having served in an investment advisory or portfolio management capacity. Weight = 20 %; Maximum Points: 200;
• Criteria 3. Demonstrated ability to structure blended finance products and experience in working on results-based financing instruments. Weight =20 %; Maximum Points: 200;
• Criteria 4. Demonstrated track record in project management and working experience in a developing country context. Weight = 10 %; Maximum Points: 100;

Only shortlisted candidates obtaining a minimum of 70% (490 points) of the maximum obtainable points for the technical criteria (700 points) shall be considered for the financial evaluation.

Financial evaluation - Total 30% (300 points)

The following formula will be used to evaluate financial proposal:

p = y (µ/z), where

p = points for the financial proposal being evaluated

y = maximum number of points for the financial proposal

µ = price of the lowest priced proposal

z = price of the proposal being evaluated

Contract Award

The candidate obtaining the highest combined score of the technical and financial evaluations will be considered technically qualified and will be offered to enter into contract with UNDP.

Institutional Arrangements

• The assignment will be home-based with consultation missions to New York;
• The consultant will be supervised by and report directly to the Senior Advisor Business Model and Process, Executive Office;
• Payments will be made upon submission of a detailed time sheet and certification of payment form, and acceptance and confirmation by the Supervisor on days worked and outputs delivered;
• The consultant will be given access to relevant information necessary for execution of the tasks under this assignment; and
• The consultant will be responsible for providing her/his own working station (i.e. laptop, internet, phone, scanner/printer, etc.)

Mission Travel

• Any necessary missions must be approved in advance and in writing by the Senior Advisor Business Model and Process, Executive Office;
• Consultants are required to comply with the UN security directives set forth under https://dss.un.org/dssweb/;  
• The Advanced and Basic Security in the Field II courses must be successfully completed prior to commencement of travel;
• The selected candidate is responsible for ensuring that s/he has the necessary vaccinations/inoculations when travelling to certain countries, as designated by the UN Medical Director;
• The selected candidate is responsible for obtaining any visas needed in connection with travel with the necessary support from UNDP; and
• All related travel expenses will be supported by the project travel fund and will be arranged according to UNDP entitlements and travel policy.  Costs for airfares, terminal expenses, and living allowances should not be included in financial proposal.

Payment Modality

• Payment to the Individual Contractor will be made based on the actual number of days worked and deliverables accepted, and upon certification of satisfactory completion by the Senior Advisor. 
• The workweek will be based on 35 hours, i.e. on a 7-hour working day (lunch time is not included), with core hours being between 9h00 and 18h00 daily.