Financial Management Senior Consultant

Background

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 297 projects in 133 countries and has committed USD 16.6 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 make unique contributions to the Fund, enriching the institution through their combined expertise and professional commitment.

Duties and responsibilities

The Consultant will be responsible for assisting the Department of the Africa Region, in the Office of the Chief Investment Officer with a range of tasks required to assess new Funding Proposals (Pre-Approval Analysis), and for reviewing financial reporting submitted as part of their reporting obligations (Post-Approval Analysis).

Pre-approval analysis

1. Financial Model Review
   • Assess the robustness, clarity, and internal consistency of financial models, ensuring alignment with GCF investment criteria and financial policies.
   • Verify assumptions, calculations, and sensitivity analyses to ensure financial soundness and risk identification.

2. Funding Structure and Terms Analysis
   • Evaluate the appropriateness of financial instruments (grants, loans, equity, guarantees) and their alignment with GCF’s concessionality principles.
   • Review the structuring of co-financing, leverage ratios, and financial sustainability over the project lifecycle.

3. Budget and Cost Analysis
   • Assess the reasonableness and efficiency of proposed budgets, including cost structures, operational expenses, and contingency allocations.
   • Ensure cost categories are appropriately justified and in line with GCF policies.

4. Risk Assessment and Mitigation Strategies
   • Identify financial risks related to currency fluctuation, liquidity, default, and revenue generation.
   • Assess proposed risk mitigation measures and their adequacy in safeguarding GCF’s financial interests.

5. Economic and Financial Viability Assessment
   • Evaluate financial viability indicators such as IRR, NPV, payback period, and debt service coverage ratios where applicable.
   • Assess economic impact considerations, including affordability and revenue sustainability.

6. Alignment with GCF Policies and Standards
   • Ensure compliance with GCF investment policies, fiduciary standards, and financial management guidelines.
   • Review adherence to GCF requirements on financial reporting and monitoring.

7. Stakeholder Engagement and Capacity Building
   • Engage with Accredited Entities and Delivery Partners to clarify financial structuring requirements and address gaps.
   • Provide recommendations for improving financial analysis capacity within the GCF Secretariat, including working with individual Project Leads to help them gain experience in Financial Analysis, through shadowing processes.
   • Support investment teams in developing clearer financial narratives and justifications.

8. Legal Contracting
   • Provide inputs to negotiations on financial related clauses in Funded Activity Agreements (FAAs)

9. Reporting and Documentation
   • Deliver written assessments with clear recommendations for each funding proposal reviewed.
   • Contribute to internal knowledge-sharing on best practices in financial structuring.

Post-approval analysis

• Monitor and report on Accredited Entity submissions of Financial Information Reports in accordance with the provisions of the Funded Activity Agreements (FAA) and Accreditation Master Agreements AMA.
• Review and assess Financial Information Reports submitted by Accredited Entities as part of the Annual Performance Reports (APRs).
• Review and assess Semi-annual financial reports submitted by Accredited Entities.
• Review and assess Audited Financial Statements submitted by Accredited Entities.

Deliverables:

• Funding Proposals reviewed, and written feedback provided. It is anticipated that the Consultant will work on up to 4 Funding Proposals at any one time, with up to 8 expected for each board cycle.
• Financial Information Reports included in the APRs reviewed, and feedback provided.
• Semi-annual financial reports reviewed, and feedback provided.
• Annual Audited Financial Statements reviewed, and feedback provided.

Required experience and qualifications:

• Post-graduate university degree.
• At least 10 years of financial management experience.
• Experience in implementation and monitoring of GCF Funded Projects is a distinct advantage.
• Knowledge and experience in designing, developing and appraising GCF Funding Proposals and Funded Activities.
• In-depth understanding of GCF financial reporting requirements as stipulated in the Accreditation Master Agreements (AMA) and Funded Activity Agreements.
• Demonstrated Financial Management experience including budgeting and financial reporting in relation to GCF Funded Activities.
• Exposure to/knowledge of climate change project issues and/or GCF working modalities is an added advantage.
• Experience in using computers and office software packages (MS Word, Excel, etc.) and advanced knowledge of spreadsheet and database packages, experience in handling of web-based management systems such as PPMS.
• Good understanding of and/or experience in applying the Fund’s instruments (grants, debt, guarantees and equity) in Fund investment areas of focus.
• Excellent report writing and presentation skills.
• Excellent analytical skills and problem-solving skills.

Application Process

Interested candidates are invited to submit their CV and a cover letter detailing their qualifications and experience relevant to the role. Candidates of all nationalities are welcome to apply. Please indicate your earliest availability to take up the assignment and notice-period required, if employed. The closing date for applications is 18 June 2025, 4:00 PM (KST). Applications submitted after the closing date may not be considered.