Historique

Context

UN Capital Development Fund (UNCDF) makes public and private finance work for the poor in the world’s 47 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development. UNCDF’s financing models work through two channels: financial inclusion that expands the opportunities for individuals, households, and small businesses to participate in the local economy, providing them with the tools they need to climb out of poverty and manage their financial lives; and by showing how localized investments—through fiscal decentralization, innovative municipal finance, and structured project finance—can drive public and private funding that underpins local economic expansion and sustainable development. By strengthening how finance works for poor people at the household, small enterprise, and local infrastructure levels, UNCDF contributes to SDG 1 on eradicating poverty and SDG 17 on the means of implementation. By identifying those market segments where innovative financing models can have transformational impact in helping to reach the last mile and address exclusion and inequalities of access, UNCDF contributes to a number of different SDGs.

Approximately US$1.7 trillion flows from the developed world to the developing world from a diversified set of actors and with equally distinct motivations, ranging from purely philanthropic to market-rate return on investments. By being innovative in the way development assistance is deployed it can have the potential to extend the reach and effectiveness of the aid through for example the complementary deployment of private capital i.e. by blending public and private funds for enhanced development results. The development assistance then has the potential to expand the pool of foreign and domestic capital available for economic development for e.g. small and medium enterprises, agriculture, infrastructure and key public services.

UNCDF can use a combination of grant, reimbursable grant, loans, guarantees and/or technical assistance to support early stage businesses, SMEs, projects, microfinance institutions and municipal investments. Up till today UNCDFs use of loans and guarantees has been limited but there is now an ambition to make better use of these financial instruments and the last year has seen a steep increase in the issuance of loans and guarantees. One objective is now to set up a joint fund with a third-party fund manager to attract other type of capitals to UNCDF’s pipeline of projects. UNCDF may also try to offer its advisory services to other UN agencies without the mandate to do loans and guarantees.

Given its value added in advancing the Sustainable Development Goals agenda particularly in Least Developed Countries, UNCDF is on the road to expanding its capital investment mandate by optimizing its funding architecture to catalyze more funding from both official and private sources.

The LDC Investment Platform (LDCIP) team seeks to use financial instruments such as loans and guarantees for direct investment and to absorb risks to mobilize more commercial investments into a growing pipeline of projects in LDCs[1] (e.g.: local infrastructure, renewable energy, SMEs, agriculture value chains, financial service providers, fin-techs). With this approach, UNCDF is playing an increasingly active role in mobilizing investments in local economies through the application of loans, guarantees and reimbursable grants that mitigate the risks for public and private investors

LDCIP reports directly to the Executive Secretary but supports the two operational divisions within UNCDF in their due diligence of transactions- the two operational divisions being the Financial Inclusion Practice Area (FIPA) and Local Development Finance Practice (LDFP). Independently the LDC Investment platform provide a credit opinion to the Impact Investment Committee. Consequently, the team balances between being a support function to the loan officer in the field, and an independent credit risk function within the organization.

Project Description

The LDC Investment platform team is entering the ‘Expand & Innovate’ stage which is characterized by ‘Scale and growth of volume’, expansion in new products assets classes and geographies and improvement of the borrower experience.

As UNCDF’s financial instruments portfolio grows and becomes more complex, there is a need for a robust follow-up function to appropriately record and manage this portfolio.

UNCDF is seeking for a consultant to be part of the LDCIP in its Headquarters located in New York, United States. Working under the guidance and supervision of the Head of LDCIP, and working closely with the LDCIP staff, the consultant will support the implementation of a financial instruments follow-up function within the LDCIP team (similar to back office and portfolio management) and help ensure that procedures are well linked to the front office (the sourcing, screening and approval process).

[1] Least Developed Countries: read more at https://www.un.org/development/desa/dpad/least-developed-country-category.html

Devoirs et responsabilités

Expected Outputs and Deliverables

• Support the implementation of the new Corporate Investment Management System, especially as it relates to adequate information for accurate recording of loans and guarantees, portfolio management and controls
• Help the LDCIP achieve operational excellence by designing and instituting effective, efficient, and well controlled follow-up processes, including management of loan and guarantee contracts, monitoring of payments, compliance with loan agreements
• Help the LDCIP’s ability to manage loan restructuring and defaults by instituting processes based on industry best practices
• Assist the LDCIP in formulating loan and guarantee classifications depending on the borrower’s financial health, and in line with industry best practices
• Enhance LDC Investment platform ability to manage risks and compliance issues
• Enhance LDC Investment platform ability to undertake qualitative and quantitative portfolio analyses

Duration of the work

• The Consultant will be required to work at UNCDF’s headquarters at New York, USA
• The consultant will be required to report regularly to the Head, LDCIP

Schedule of payments

• Payment will be made on periodical basis in accordance with number of days worked and upon satisfactorily achieved deliverables. All payments are subject to the clearance and approval of the Head, LDCIP.

Compétences

Core Values/Guiding Principles

• Demonstrate consistency in upholding and promoting the values of UNCDF in actions and decisions, in line with the UN Code of Conduct.
• Demonstrate an appreciation of the multicultural nature of the organization and the diversity of its staff.
• Demonstrate an international outlook, appreciating difference in values and learning from cultural diversity.

Core Competencies

• Demonstrate leadership with commitment, excitement and excellence in others;
• Ability to meet goals and quality criteria for delivery of products or services;
• Demonstrates strong writing skills, particularly the ability to present persuasive, coherent and well-founded arguments;
• Demonstrates drive to achieve results in timely manner and to seek and find solutions to any problems encountered;
• Has ability to communicate clearly and persuasively
• Delivery: Ability to get things done while exercising good judgement

Technical/Functional competencies:

• Project Management: Ability to plan, organize, and control resources, procedures and protocols to achieve specific goals
• Relationship Management: Ability to develop, maintain, and strengthen partnerships with others inside (Programmes/projects) or outside the organization who can provide information, assistance, and support.  Sets overall direction for the formation and management of strategic relationships contributing to the overall positioning of UNDP;
• Knowledge of financing for sustainable development and ability to apply to strategic and/or practical situations;
• Focuses on result for the client and responds positively to feedback;
• Strong organizational skills and ability to multi-task.
• Must be able to work in a multicultural environment and be aware of political sensitivities
• Computer literacy, including proficient use of research and applied software such as Excel.

Qualifications et expériences requises

Education:

• Master’s Degree in Business Administration, Economics, Finance, Science or equivalent, with a focus on economics or finance

Experience:

• 15 plus years of work experience in either the financial sector or in the private sector, with at least 5 years of experience in treasury or back office, and at least 3 years’ experience with workouts or restructuring
• Demonstrated management experience (team management)
• Strong knowledge of financial markets
• Prior experience at a UN agency would be regarded a bonus

Languages:

• Spoken and written fluency in English required. Spoken and written fluency in French is desirable; knowledge of other UN languages will be considered a plus.

Evaluation process

• Individual consultant candidates will be evaluated based on the cumulative analysis methodology (weighted scoring method), where the award of the contract will be made to the individual consultant whose offer has been evaluated and determined as a responsive/compliant/acceptable.

• The award of contract will be made to the individual consultant who receives the highest combined score out of the weighted technical and financial criteria as specified below.

Technical Criteria weight: 70% Financial Criteria weight: 30%

• Criteria and scores for Technical Criteria – 70 points

Criteria 1: Extent of relevant previous experience – 50 points;

Criteria 2: Relevance of academic qualifications – 10 points

Criteria 3: Extent of management experience- 10 points.

• Criteria and scores for Financial Criteria –30 points

p = y (µ/z), where p = financial criteria score, y = maximum number of points for the financial proposal µ=price of the lowest priced proposal z = price of the proposal being evaluated.

Application process

Interested individuals must submit the following as proposals in order to demonstrate their qualifications: (NOTE: THE SYSTEM DOES NOT ALLOW MULTIPLE UPLOADS OF DOCUMENTS THEREFORE APPLICANTS MUST MAKE SURE TO UPLOAD ALL REQUIRED DOCUMENTS IN ONE FILE). Proposers who shall not submit below mentioned documents will not be considered for further evaluation.

All applications must contain the following information:

• A cover letter responding to competency criteria indicating why the candidate considers himself/herself suitable for the required consultancy as well as stating earliest availability.  Please paste this letter into the “Resume and Motivation” section of the electronic application.
• CV 
• Earliest availability and proposed schedule for consultancy.
• Confirmation of interest and Financial proposal: Letter of Confirmation of Interest and Availability using the template provided by UNDP. The Financial Proposal shall indicate the all-inclusive daily fee, supported by a breakdown of costs, as per template provided.