UNDP / UNCDF 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 / UNCDF 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.
The UN Capital Development Fund makes public and private finance work for the poor in the world’s 46 least developed countries (LDCs). 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 three channels: (1) inclusive digital economies, which connects individuals, households, and small businesses with financial eco-systems that catalyze participation in the local economy, and provide tools to climb out of poverty and manage financial lives; (2) local development finance, which drives structural transformation of localities through policy and regulatory reform, fiscal decentralization, innovative municipal finance, and project finance to unlock capital flows to the local level, combined local economic expansion and sustainable development; and (3) investment finance, which provides catalytic financial structuring, de-risking, and capital deployment to drive SDG impact and domestic resource mobilization.
Based on its capital mandate to help Least Developed Countries (LDC) pursue inclusive growth, UNCDF focuses on the expansion and blending of its capital investment instruments, and promotes innovative finance instruments to further explore how public finance can be used to unlock additional public and private finance from international and domestic sources to reach the last mile. Targeting the last mile implies adapting solutions to the underserved, where benefits from growth tend to leave people excluded, where development needs are greatest and where resources are scarcest.
With its existing portfolio of blended finance programmes, UNCDF uses a combination of grants, reimbursable grants, loans, guarantees and blended finance funds to make innovative finance work for the poor. Through its programmes UNDCF promotes financing models invest in SMEs in the frontier economies, derisks investments and projects by providing guarantees and supports market and ecosystem development, particularly in the digital and municipal infrastructure arenas. It aims at inclusive digital economies to transform lives via technology and telecommunications solutions leapfrogging stages of development. It develops a pipeline of transformational sub-sovereign, municipal infrastructure projects through structured project finance, innovations in fiscal decentralization, and through a municipal finance blended finance fund.
The need for UNCDF to catalyze more investments for the varied and evolving requirements of LDCs calls for the steady investment of Official Development Assistance (ODA) but also tapping the private sector capital managed by institutional investors such as asset managers, pension funds, insurance companies, sovereign wealth funds, corporate treasuries and impact investment funds to support the implementation of the Sustainable Development Goals (SDG) and the Istanbul Programme of Action (IPoA). For UNCDF to remain relevant and competitive in this changing global environment, it needs to maximize the right conditions for capital raising and structuring to flourish in a new development finance landscape. Hence, considering the untapped potential of investment in the impact space in LDCs, UNCDF is adapting its business model to 1) push the boundaries of capital markets innovations to raise private capital for the LDCs, 2) further explore how public finance – such as ODA and climate finance – can be used to unlock additional private finance from international and domestic sources, primarily for the LDCs, and 3) structuring capital investment instruments such as Special Purpose Vehicles (SPVs), bonds, first loss, risk mitigation and listing of new instruments on public exchanges.
Based on its capital mandate to help Least Developed Countries (LDC) pursue inclusive growth, UNCDF focuses on the expansion and blending of its capital investment instruments, and promotes innovative finance instruments to further explore how public finance can be used to unlock additional public and private finance from international and domestic sources to reach the last mile. Targeting the last mile implies adapting solutions to the underserved, where benefits from growth tend to leave people excluded, where development needs are greatest and where resources are scarcest.
With its existing portfolio of blended finance programmes, UNCDF uses a combination of grants, reimbursable grants, loans, guarantees and blended finance funds to make innovative finance work for the poor. Through its programmes UNDCF promotes financing models invest in SMEs in the frontier economies, derisks investments and projects by providing guarantees and supports market and ecosystem development, particularly in the digital and municipal infrastructure arenas. It aims at inclusive digital economies to transform lives via technology and telecommunications solutions leapfrogging stages of development. It develops a pipeline of transformational sub-sovereign, municipal infrastructure projects through structured project finance, innovations in fiscal decentralization, and through a municipal finance blended finance fund.
The need for UNCDF to catalyze more investments for the varied and evolving requirements of LDCs calls for the steady investment of Official Development Assistance (ODA) but also tapping the private sector capital managed by institutional investors such as asset managers, pension funds, insurance companies, sovereign wealth funds, corporate treasuries and impact investment funds to support the implementation of the Sustainable Development Goals (SDG) and the Istanbul Programme of Action (IPoA). For UNCDF to remain relevant and competitive in this changing global environment, it needs to maximize the right conditions for capital raising and structuring to flourish in a new development finance landscape. Hence, considering the untapped potential of investment in the impact space in LDCs, UNCDF is adapting its business model to 1) push the boundaries of capital markets innovations to raise private capital for the LDCs, 2) further explore how public finance – such as ODA and climate finance – can be used to unlock additional private finance from international and domestic sources, primarily for the LDCs, and 3) structuring capital investment instruments such as Special Purpose Vehicles (SPVs), bonds, first loss, risk mitigation and listing of new instruments on public exchanges.
Position Context:
In this context, UNCDF is creating a Capital Markets for Development programme team to identify, and leverage new sources of funding and and innovative finance opportunities, and is now inviting applications from suitably qualified candidates to fill the position listed below.
This Programme Manager Capital Markets Development will work closely with the Director Capital Markets D1 and UNCDF Senior Management team, on the Capital Markets programme development, working in close collaboration with the UNCDF three practice/pillar technical teams.
The Programme Manager will work on developing the newly-identified opportunities and developing new private sector funding and capital markets structures for UNCDF with the purpose to attracting and encouraging large private sector institutional investors and asset managers to invest in development while meeting their returns and risk perspectives.
This will be newly-established fixed-term position financed on UNCDF Core-resources and is based at UNCDF New York Headquarters.
The role reports directly to the UNCDF Executive Secretary/Director D-2, New York. USA and works in close collaboration with the Director Capital Markets for Development and the other directorate team.
Duties and Responsibilities
The Programme Manager, Capital Markets for Development will have the following major deliverables, that are expected to be executed during the twelve months of the assignment entering into force. The new position will be extended upon satisfactory performance during the first year, and additional outputs will be added over the course of the assignment
Detailed Responsibilities and Tasks
1. Provide Programme Management leadership in the area of Capital Markets Development
Work on identify and develop new donors, investors and capital markets structures with the purpose of orienting capital towards investing in new frontier areas via UNCDF investments or financial advisory.
Technical leadership and Programme management to the Capital Markets Development portfolio at a global level.
Provide strategic guidance to UNCDF country and regional leads and lead the process of identifying promising investment opportunities for UNCDF in all regions that meet established investment criteria and new corporate priorities.
Dd develop specific opportunities to full-scale programme development, leveraging new donor capital with new institutional investor solutions to improve the amount, efficiency, and predictability of funding for UNCDF programmes.
Undertake donor outreach and consultation (private and public) to help secure additional funding. In this regard, the incumbent will lead partnerships with major financial institutions like investment banks, insurance companies, pension funds and asset owners and with philanthropies and foundations.
Seek opportunities for coordinating and co-funding projects with existing donors/funders to ensure the UNCDF capital market development programme targets are met.
Leverage potential new partnerships intelligence, conduct risk assessment, and cost-benefit analysis on potential partnership models.
Contribute to nalyze external environment analysis, partners and stakeholders to identify key analytical insights and financing information.
2. Strategic Advice and Business Development
Based on an agreed approach, provide expertise and advice to UNCDF and partner governments to support strategies to unlock additional public and private finance from international and domestic sources.
Contribute foresight, insight, ideation in funding innovation and perspectives of both public and private capital with a target of building bridges between them.
Communicate funding innovation needs and success stories to engage relevant stakeholders.
Collaboration and knowledge sharing in internal and external funding innovation networks.
Work closely with UNCDF Senior Management & Practice leads/Programme Managers, Local Development Finance Practice (LD), LDC Investment Operations and Inclusive Digital Economies (IDE), to design programs that fully operationalize UNCDF capital mandate.
If and where needed, initiate new specific sourcing activities such as requests for proposals, challenge funds, market scans, etc.
Work closely with Director Capital Markets and Head of Partnerships Policy and Communications Unit to support and scale-up fundraising activities
Support to establishment of a pipeline of new debt and other investment opportunities in LDCs through the UN community, donors, programmatic sponsors and lender relationships.
Identify and lead the development of new deals, loans and guarantees, with the intent to maximize the potential for commercial co-financing and catalyzing additional sources of capital for the same social purpose.
Engage with Private Sector, UN and Other Stakeholders as a thought leader and advisor on how public-private partnerships can unlock SDG positive investments.
3. Advocacy and Knowledge Management
Provide intellectual leadership for research, learning and knowledge generation related to UNCDF’s Investment mandate and operations.
Adopt approaches to ensure that the lessons learned from the transactional work are captured, documented and disseminated to investors, government officials, DFIs, and development partners.
Ensures that relevant lessons learned are also incorporated into UNCDF’s ongoing and future programming, and form the basis for policy advocacy at the national and global levels;
Attend high-level forums and conferences, meet with donors, sponsors and lenders as needed.
4. Contribute to Organization-wide culture change around financial innovation, private sector funding and capital markets:
Lead and facilitate idea generation sessions with internal and external participation.
Create awareness of what is capital markets innovation and why it is important.
Lead activities to strengthen capabilities and contact to approach to private sector institutional investors, boost creativity and accelerate implementation.
Communicate financial innovation strategy and innovation success stories, working closely with Director Capital Markets and Partnerships, Policy and Communications teams.
Competencies
Core
Innovation. Ability to make new and useful ideas work
Level 6: Exercises stakeholder-centered design approaches for office / programme / division
Leadership. Ability to persuade others to follow
Level 6: Ensures teams are resourced for success and empowered to deliver
People Management. Ability to improve performance and satisfaction
Level 6: Guides substantive specialists / teams and expands credibility and innovation capacity
Communication. Ability to listen, adapt, persuade and transform
Level 6: Creates confidence among stakeholders by delivering authoritative positions, compelling analysis, and contextual acumen
Delivery. Ability to get things done while exercising good judgement
Level 6: Accepts accountability for the outcomes of programme delivery and facilitates improvement and innovation in the delivery of products and services
Technical / Functional
Technical Knowledge/Knowledge and expertise in Investment & Public finance concepts, principles and policies and the ability to apply in strategic and/or practical situations
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Building Strategic Partners
Establishing, maintaining and utilizing a broad network of contacts. Building partnerships and strategic alliances
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Results-Based Programme Development and Management
Effectively managing core and non-core resources to achieve organizational results. Moving from basic research to programme/project management, to programme design and conceptual leadership
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Fundraising
Proven ability to fundraise for development purposes, building strong relationships with funders
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Innovation and Marketing New Approaches
Developing original and innovative ideas and approaches. Influencing others within UNDP and outside, to adopt new approaches. Creating a culture of innovation and change
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Knowledge Management
Ability to efficiently handle and share information and knowledge
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Creating Visibility
Ensuring that UNCDF has the visibility and corporate image it requires as the key development actor
Level 6: Integrate & Empower: Leads integral work of teams utilizing expertise, vision, problem-solving capability, and collaborative energy in professional area of expertise
Required Skills and Experience
Education:
Advanced university degree (Masters or its university equivalent) in Business, Finance or Economics, or another related field.
Experience and qualifications:
Minimum of 10 years professional experience in the financial services industry, preferably with a focus on resource mobilization, in an investment bank, corporate bank, multilateral development bank (MDB), bilateral development finance institution (DFI), private equity fund, venture capital, impact investment fund or other such.
Deep knowledge and long-term experience in financing structuring, capital markets, impact investing, venture capital, private equity, and other types of financial innovation in both the private sector for the international development arena.
Candidate with a proven track record for capital raising and structuring capital markets instruments for development will have a distinctive advantage.
Proven track record in the successful mobilization of resources and partners, and extensive network of contacts across the financial and investment sectors.
Expert knowledge in topics related to investment banking, venture capital, private equity, impact investment, and related fields, as well as Multilateral Development Banks (MDBs) and Bilateral Development Finance Institutions (DFIs), with a focus on emerging and frontier markets.
Leadership experience working with high-level government officials and decision makers in the global investment area.
Experience working with development finance institutions and other renowned private entities operating in the development finance investment space is an advantage.
Working experience in emerging markets will be an asset.
Language Requirements:
Fluency in English is required.
Proficiency in other UN languages especially French is considered a distinct advantage but not required.
Disclaimer
Important information for US Permanent Residents (‘Green Card’ holders)
Under US immigration law, acceptance of a staff position with UNDP, an international organization, may have significant implications for US Permanent Residents. UNDP advises applicants for all professional level posts that they must relinquish their US Permanent Resident status and accept a G-4 visa, or have submitted a valid application for US citizenship prior to commencement of employment.
UNDP is not in a position to provide advice or assistance on applying for US citizenship and therefore applicants are advised to seek the advice of competent immigration lawyers regarding any applications.
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