Consultant Finance - Innovative Finance Senior Manager

Finance & Economy

Overview

Provide innovative resource management solutions to support global strategic objectives.

You have:

• Advanced university degree in economics, finance, law or a related field.
• At least 15 years of progressively responsible professional experience in international debt restructuring, resource mobilization through debt swaps or related activity.
• Level C fluency in English is required; knowledge of French, Spanish and/or Arabic is desirable.
• Advanced exposure and understanding of mandates and activities of UN entities, and UN's role in debt relief dialogues.
• Demonstrated ability to structure new financial instruments for debt relief goals.

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WFP celebrates and embraces diversity. It is committed to the principle of equal employment opportunity for all its employees and encourages qualified candidates to apply irrespective of race, colour, national origin, ethnic or social background, genetic information, gender, gender identity and/or expression, sexual orientation, religion or belief, HIV status or disability.

ABOUT WFP

The United Nations World Food Programme is the world's largest humanitarian agency fighting hunger worldwide. The mission of WFP is to help the world achieve Zero Hunger in our lifetimes. Every day, WFP works worldwide to ensure that no child goes to bed hungry and that the poorest and most vulnerable, particularly women and children, can access the nutritious food they need.

STANDARD MINIMUM QUALIFICATIONS

Education: Advanced university degree in economics, finance, law or a related field. A first University Degree with two additional years of relevant work experience from the minimum experience requirement stated below.

Experience: At least 15 years of progressively responsible professional experience in international debt restructuring, resource mobilization through debt swaps or a related activity is required. Experience working directly with creditor and debtor governments and/or institutional investors with history of participating in debt swaps is required.

Languages: Level C fluency in English. Knowledge of French, Spanish and/or Arabic is desirable

ORGANIZATIONAL CONTEXT

These jobs are found in Country Offices (COs), Regional Bureaux (RBs) and Headquarters (HQ). Job holders typically report to the Division/Regional/Country Director or the designate, and are under the functional supervision of the Chief Financial Officer. Depending on the size and needs of the office or unit, the job may cover all aspects of finance, budget, and administration, or it may emphasize finance or more of these aspects. Job holders typically lead large/diverse teams of Finance Officers, engaged in supporting a region or providing specialist advice. They use expert technical knowledge to provide insightful, innovative advice to resolve highly complex financial issues and to continually develop Finance services to better support WFP in meeting its strategic aims.

BACKGROUND AND PURPOSE OF THE ASSIGNMENT

The work of WFP is funded by voluntary contributions from governments, national development institutions, multilateral financial institutions, private sector, foundations and individuals. There is currently a large gap between global food security needs and resources available, particularly in the wake of the Covid-19 pandemic. To reduce this funding gap and advance its work on “Saving Lives” and “Changing Lives”, WFP is looking at innovative financing mechanisms to increase and diversify its funding base, among them, debt swaps.

At the Third International Conference on Financing for Development held in 2015, UN Agencies including WFP, national governments, development finance institutions, private sector representatives and other actors adopted the Addis Ababa Action Agenda on global development financing. At its core, the Addis Agenda aims to scale and mainstream use of innovative financing in development, broadening the fiscal space of governments and international development institutions as they work to meet global commitments on sustainable development. One of the key commitments on the Action Agenda is on Debt and Debt Sustainability. In particular, the Agenda recognized the need to assist developing countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief, debt restructuring and sound debt management, as appropriate.

The Addis Agenda further recognised that “severe natural disasters and social or economic shocks can undermine a country’s debt sustainability, and note that public creditors have taken steps to ease debt repayment obligations through debt rescheduling and debt cancellation following an earthquake, a tsunami and in the context of the Ebola crisis in West Africa. [The Action Agenda] encourage consideration of further debt relief steps, where appropriate, and/or other measures for countries affected in this regard, as feasible. [The Action Agenda] also encourage the study of new financial instruments for developing countries, particularly least developed countries, landlocked developing countries and small island developing States experiencing debt distress, noting experiences of debt-tohealth and debt-to-nature swaps”.

JOB PURPOSE

To ensure the effective stewardship of WFP’s resources, through managing the financial and budgetary requirements of large COs, regional operations or HQ units. To provide innovative resource management solutions that support global strategic objectives. Provide assurance of value for money and oversight of risks and weaknesses to programmes and operations.

KEY ACCOUNTABILITIES (not all-inclusive)

ROLE OF THE CONSULTANT:

The Innovative Finance Senior Manager will work alongside WFP’s Task Teams on Debt Swaps, Blended Finance and Co-financing, reporting to the Director of Finance, one of the co-chairs of WFP’s Innovative Finance Steering Committee.

Support to the Task Teams will include advice on strategic approaches/WFP positioning, process, structuring, advocacy and negotiation.

ACCOUNTABILITIES/RESPONSIBILITIES:

1. Support the Task Teams and functions named above in defining approach and process for engaging with specific:

- creditor and debtor governments, in line with their interests, the case of debt swap agreements.

- stakeholders, impact investors and multisectoral donors, in the case of blended finance and co-financing schemes.

2. Contribute to defining WFP’s strategic positioning vis-à-vis the three prioritized thematic areas, by fostering and nurturing:

- debt relief dialogues, with both creditor and debtor governments, considering political and other risks that may be involved in debt relief discussions.

- dialogues on co-investment and partnerships on blended capitals with identified stakeholders, impact investors and multisectoral donors.

3. Support WFP’s efforts in engaging early with multisectoral partners (with a special focus on the private sector) to assess their willingness to contribute to a WFP Blended Finance and Co-financing initiatives and their respective conditions.

KEY ACCOUNTABILITIES (not all-inclusive) Continued

4. Support in the development, review and/or adaptation of WFP’s tools and documents meant to guide, harmonise and quality-assure all activities relating to organization’s debt swaps, blended finance and co-financing initiatives, including documents supporting advocacy efforts.

5. Working alongside the Debt Swap Task Team to support Country Offices in discussions and negotiations with ministries of finance and planning, local embassies and/or creditor/donor Capitals on potential debt swaps.

6. Working alongside the Task Team, provide technical advice to WFP Country Offices, Liaison Offices and Regional Bureaus in the operationalization of guidance and standards relating to WFP’s participation in debt relief / debt swap discussions.

7. Advise on potential new debt swap instruments and support structuring of such instruments, in collaboration with WFP’s Treasury team and external financial institutions/advisers, as may be required.

8. Build functional networks and advise on potential collaboration opportunities on debt swaps between WFP and other UN agencies e.g. with UNDP, who are likely to have existing working relationships with ministries of finance and planning on fiscal space enhancements.

9. In line with the Addis Agenda and where feasible, support WFP’s contributions to global dialogues on debt sustainability, including potential advocacy for the use of debt-to-food swaps in cases where debt and food crises co-exist.

DELIVERABLES AT THE END OF THE CONTRACT: Project based as determined by Task Teams.

DESIRED EXPERIENCES FOR ENTRY INTO THE ROLE

Knowledge & Skills:

Advanced exposure and understanding of mandates and activities of UN entities, funds and programmes as well as UN’s role in debt relief dialogues, including history of its specialized agencies in negotiating and working with funding from debt swaps. Demonstrated ability to structure new financial instruments that can serve as vehicles for administering and/or achieving debt relief goals, on both creditor and debtor’s ends, e.g. debt-to-health or debt-to-nature swaps. Knowledge of policy making processes within governments and proven ability to make high-level recommendations and influence government-level/institutional decisions. Understanding of major creditor/donor countries’ national policies on international development, geography preferences, modes of assistance, programme priorities and their historical use of debt swaps in overseas development assistance (ODA) and/or debt relief efforts.

DEADLINE FOR APPLICATIONS

Application deadline: 10 March 2022 (midnight Rome time)

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All employment decisions are made on the basis of organizational needs, job requirements, merit, and individual qualifications. WFP is committed to providing an inclusive work environment free of sexual exploitation and abuse, all forms of discrimination, any kind of harassment, sexual harassment, and abuse of authority. Therefore, all selected candidates will undergo rigorous reference and background checks.

No appointment under any kind of contract will be offered to members of the UN Advisory Committee on Administrative and Budgetary Questions (ACABQ), International Civil Service Commission (ICSC), FAO Finance Committee, WFP External Auditor, WFP Audit Committee, Joint Inspection Unit (JIU) and other similar bodies within the United Nations system with oversight responsibilities over WFP, both during their service and within three years of ceasing that service.

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Potential interview questions

Added 4 years ago - Updated 1 year ago - Source: wfp.org