General Assembly Resolution 2186 (XXI) decided to “bring into operations the United Nations Capital Development Fund as an organ of the General Assembly which shall function as an autonomous organization of the United Nations. The UN Capital Development Fund (UNCDF) assists developing countries, especially least developing countries, in the development of their economies by supplementing existing sources of capital assistance by means of grants, loans, and guarantees. UNCDFs vision is to help mobilize and catalyze an increase of capital flows for SDG impactful investments to Member States to address the most pressing development challenges facing vulnerable communities in these countries and thereby contribute to sustainable economic growth and equitable prosperity.

UNCDF utilizes its unique capability in the UN system to deploy grants, loans and guarantees to crowd-in finance for the scaling of development impact. UNCDF focuses on where the needs are greatest, a deliberate focus and capability rooted in UNCDF’s unique investment mandate to support the achievement of the 2030 Agenda for Sustainable Development and the realization of the Doha Programme of Action for the least developed countries, 2022–2031.

As per its Strategic Framework, UNCDF works to deploy its functions as a hybrid development organization and development finance institution. UNCDF responds to Member States requests for assistance by providing targeted technical and financial advisory services on investments for development outcomes, designing bespoke financial structuring solutions, undertaking financial derisking of investments, and enhancing investment readiness of SDG aligned projects in partnership with private sector, UNOs, International and Local Finance Institutions, Development Finance Institutions as well as Foundations and Philanthropy, among others. UNCDF works to develop local financial systems, new markets and mobilize and crowd in capital from public and private sources. UNCDF is driven by a partnership mindset which enables it to deploy its different capital capabilities in highly tailored and responsive ways in order to mobilize investments flows from other sources, in particular from the private sector.  By structuring transactions which are highly impactful, but also recognize the need for multiplying the impact of its own capital, UNCDF seeks to position itself as a preferred partner for different stakeholders.  UNCDF’s work is focused on six priority areas, including:

• Sub-national and local infrastructure financing
• Women owned enterprise financing
• Nature and climate financing
• Energy and decarbonization finance
• Sustainable food systems financing
• Inclusive digital finance

Following a recent restructuring, UNCDF’s organizational set up includes an Investment and Implementation Division (IID), Investment and Finance Oversight Division (IFOD), Operations and Oversight Division (OOD) and a Directorate of the Executive Office. UNCDF staff and personnel are located in regional hubs based in Dakar (Senegal), Nairobi (Kenya) and Bangkok (Thailand) with sub-regional presence in a number of locations in the Caribbean and Pacific Regions. UNCDF is led by an Executive Secretary based out of New York. Pursuant to General Assembly resolution 2321(XXII, para 1.a), the Administrator of the UNDP performs the function of the Managing Director of UNCDF. UNCDF is overseen by the Executive Board of United Nations Development Programme (UNDP), United Nations Population Fund (UNFPA) and the United Nations Office for Project Services (UNOPS) and performs the function of the Executive Board of UNCDF.

Position Purpose

The Chief Financial Officer (CFO) plays a crucial role in leading the Investment and Finance Oversight Division of the United Nations Capital Development Fund (UNCDF). Reporting directly to the Executive Secretary, the CFO provides strategic leadership and oversight for UNCDF’s finance and investment (grants, loans and guarantees) portfolio, ensuring alignment with the organization’s Strategic Framework.

The CFO is responsible for leading on corporate finance and for providing oversight for UNCDF’s portfolio of programmes and projects financed through grants, loans, and guarantees as well as technical advisory support based on contributions to UNCDF from partners. The CFO also leads on the development of strategic partnerships at both corporate and transactional levels, working closely with the UNCDF Executive Office.  The CFO oversees the effective and efficient management of UNCDF’s diverse portfolio, aiming to achieve development impacts underpinned by sustainable financial solutions in high-risk underdeveloped market conditions while ensuring compliance with all relevant rules and regulations. As a member of the UNCDF Executive Team, the CFO supports the Executive Secretary in the overall management and strategic growth of UNCDF, contributing to its strengthening within the UN Development System.

The Investment and Finance Oversight Division, under the CFO’s leadership, serves as UNCDF’s “middle office” in providing advisory and conducting oversight of the Investment and Implementation Division (IID) work to respond to member state requests for development funding and finance. The Division’s key functions include:

• Corporate Finance: Managing all corporate finance requirements in line with IPSAS requirements.
• Financial Instruments and Advisory Deployment Oversight: Overseeing the deployment of the loans, grants and guarantee instruments as well as technical and policy advisory in line with UNCDF’s policies and procedures, corporate investment strategy, UNCDF vision and mission statement and relevant applicable Financial Rules and Regulations.
• Management and Oversight of the Loans and Guarantees Portfolio: Management of the loans and guarantees portfolio in line with corporate investment strategy, risk appetite and associated thresholds and UNCDF policies and procedures.

The CFO will be based in New York, USA, leading a team of global Advisors and Specialists within the Finance and Investment Oversight Division. The role requires frequent travel.  UNCDF staff may be periodically redeployed to different regional hubs or headquarters as needed, subject to capability, consent, and due process.

UNCDF adopts a portfolio approach to accommodate changing business needs and leverage linkages cross interventions to achieve its strategic goals. This is a recognition of interconnected nature of development risks & rises that the world is facing and that call for assembling of multidisciplinary teams for an integrated & systemic response. Therefore, UNCDF personnel are expected to work across issues, units, functions, teams and projects in multidisciplinary teams in order to enhance and enable horizontal collaboration.

• Strategic Leadership
• Lead Resource Management
• Lead Partnerships and Resource Mobilization
• Lead Knowledge Management and Advocacy

Duties and Responsibilities:

1.) Strategic Leadership

• Leads the overall management of a team of global technical and policy officers who undertake UNCDF’s “middle office” function of overseeing corporate finance as well as second level oversight of the UNCDF investment portfolio including on sourcing, design, development, and provision of implementation support associated with UNCDF’s portfolio of projects and programmes financed through grants, loans and guarantees in line with UNCDF’s vision and mission statement.
• Identifies opportunities for innovation and implementation of best practices generated within the Fund as well as in peer organizations, both private and public.
  •     Serve as the Advisor for the Leadership Team with a significant role in authoritative policy advice within the UNCDF at the senior management level as well as in policy dialogue in their representational activities.
• Leads on all UNCDF corporate financial management requirements.
• Provide quality assurance on financial aspects relating to resource mobilizations and utilizations.
• Provide advice on strategic financial planning and optimization of funds control, enhancing resource management and cost-efficiency.
• Coordinate internally with other UNDP offices and externally with donors and partners on fund management matters.
• Sets the strategic direction for financial management oversight of UNCDF’s portfolio of projects and programmes financed through grants, loans, and guarantees.
• Ensure regular fiduciary reviews of the guarantees and loans portfolio to ensure compliance with requisite corporate standards and guide/advise on adjustments/interventions as needed.
• Guide and support the Investment and Implementation Division (IID), Operations and Oversight Division (OD) and the Directorate of the Executive Office to understand and advise on each of their business plans, including implementation and execution process, key milestones, outreach/business development programs with identified targets and timetables in line with UNCDF financial rules and regulations.
• Advise and support discussions with respect to the overall resource mobilization efforts, including building and deepening partnerships, engaging diverse stakeholders, fostering strategic partnerships with governments, private sector, NGOs, donor community, international financial institutions and other UN entities in line with UNDP’s financial rules and regulations and Investment Strategy in accordance with UNCDF’s Strategic Framework.
• Acts as the focal point for United Nations Board of Auditors (UNBOA) as it relates to UNCDF’s external audit.

2.) Lead Resource Management

• Financial oversight of UNCDF-funded programme/project resources managed at the country, Regional Hubs, and HQ.  This includes allocation of authorized spending limits, oversight on project budgetary and expenditure data, oversight on compliance with required donor reporting, identification of problems/issues, development of strategies, and providing guidance and support towards resolution of problems and issues and optimizing delivery capacities.
• Ensures UNCDF’s clean external audit opinion and delivery of UNCDF’s corporate financial and donor reporting per IPSAS global professional standards, including a positive assessment of the internal control framework over financial reporting applying the principles of the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
• Leads on all UNCDF corporate financial management requirements.
• Comprehensive scrutiny of financial exception reports to identify unusual activities/transactions and recommend and follow-up on corrective measures.
• Lead and conduct financial analysis for all internal and external audits and supporting external and internal audits as needed in coordination with the Operations and Oversight Division.
• Accountable for the effective provision of second level oversight of a portfolio of programmes and projects under the management of UNCDF’s Investment and Implementation Division in coordination with the Operations Oversight Division.
• Ensure the fiduciary and investment integrity of the organization and in full compliance with UNCDF’s (and UNDP’s) rules and regulations as outlined in the POPP including with reference to UNCDF carve outs in the UNDP POPP and Financial Rules and Regulations.
• Lead on the coordination and delivery of an integrated workplan with UNCDF’s two other Divisions – Investment and Implementation Division, Investment Operations Divisions – and UNCDF’s Executive Office.
• Management of transactional risk of investments, ensuring continued monitoring and quality of regular reporting obligations including the effective management and functioning of the UNCDF Investment Committee.
• Management of cash flows, including drawdown and cash replenishment portfolio for project operational needs as well as day to day non-project cash needs.
• Management of voluntary core and non-core resources made by member states to UNCDF.
• Management of GMS (including fees) portfolio with respect to income and expenditure.
• Oversight of global and regional programme and project resources of all UNCDF Budgetary Departments.
• Management of all UNCDF (both HQs and Regional Units) administrative budgets and expenditures (including cost forecasting and projections) in accordance with UNCDF financial and procurement policies.
• Management of preparation of detailed financial statements and reports ensuring all requirements are met.
• Coordination of preparation of detailed budgets, including regular reporting on performance against budgets incorporating recommendations, as needed, to ensure goals are met or adjusted accordingly.
• Develop management tools to assess financial and budget performance.
• Guiding external and internal audits as needed in coordination with the Operations Oversight Division.
• Management of timesheet tracking system on cost apportionment among funds and business units.
• Manage the Finance and Investment Oversight Division staff and personnel and encourage an organizational culture that supports innovation and effective risk management.
• Ensure the implementation of gender and other workplace policies.
• Ensure effective internal communications and a positive, healthy work environment.

3.) Lead Partnerships and Resource Mobilization

• Reporting to donors and senior management on UNCDF managed resources.
• Develops strategic partnerships to advance corporate strategic objectives as well as transactions level needs.
• Advise and support UNCDF’s Resource Mobilization efforts in line with objectives and targets of UNCDF’s Strategic Framework and associated regular 4-year business plans, and working collaboratively with the UNCDF Chief Investment Officer, Chief Operations Officer and in the UNCDF Executive Office.
• Represent UNCDF within the wider UN and in other international fora.
• Represent UNCDF in the broader market helping to highlight UNCDF’s capabilities with a wide range of stakeholders, including the private sector, Global and Regional Multilateral Development Banks, Development Finance Institutions, Philanthropy and Foundations as well as International Non-Governmental Organizations.
• Promote UNCDF to external audiences, ensuring appropriate positioning and business development.

4.) Lead Knowledge Management and Advocacy

• Coordinate and provide training to UNCDF personnel on key UNCDF and donor specific financial and operational policies.
• Represent UNCDF at the UN and MDB forums to ensure continuous dialogue, information and knowledge sharing on financial and budgetary policies and practices across the UN System.
• Ensure monitoring and evaluation of UNCDF programmes and the effective capture and codification and use of the knowledge generated.
• Identify weaknesses or gaps in knowledge of financial policies on the part of UNCDF personnel and develop and implement remedial measures to address these.
• Ensure effective advocacy around UNCDF’s programmatic work and themes, at both the global and country levels.

Achieve Results: LEVEL 4
Prioritize team workflow, mobilize resources, drive scalable results/strategic impact

Think Innovatively: LEVEL 4
Easily navigate complexity, encourage/enable radical innovation, has foresight

Learn Continuously: LEVEL 4
Create systems and processes that enable learning and development for all

Adapt with Agility: LEVEL 4
Proactively initiate/lead organizational change, champion new systems/processes

Act with Determination: LEVEL 4
Able to make difficult decisions in challenging situations, inspire confidence

Engage and Partner: LEVEL 4
Construct strategic multi-partner alliances in high stake situations, foster co-creation

Enable Diversity and Inclusion: LEVEL 4
Create ethical culture, identify/address barriers to inclusion

People Management Competencies:

UNDP People Management Competencies can be found in the dedicated site.

Cross-Functional & Technical competencies

Business Direction and Strategy: System Thinking     

• Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system.

Business Direction & Strategy: Effective Decision Making    

• Ability to take decisions in a timely and efficient manner in line with one’s authority, area of expertise and resources.

Business Management: Portfolio Management     

• Ability to select, prioritize and control the organizations programmes and projects, in line with its strategic objectives and capacity; ability to balance the implementation of change initiatives and the maintenance of business-as-usual, while optimizing return on investment

Business Management: Partnerships management    

• Ability to build and maintain partnerships with wide networks of stakeholders, Governments, civil society and private sector partners, experts and others in line with UNDP strategy and policies

Business Management: Communication    

• Ability to communicate in a clear, concise and unambiguous manner both through written and verbal communication; to tailor messages and choose communication methods depending on the audience.
• Ability to manage communications internally and externally, through media, social media and other appropriate channels.

Business Direction and Strategy: Strategic Thinking    

• Ability to develop effective strategies and prioritized plans in line with UNCDF’s objectives, based on the systemic analysis of challenges, potential risks and opportunities, linking the vision to reality on the ground, and creating tangible solutions.
• Ability to leverage learning from a variety of sources to anticipate and respond to future trends; to demonstrate foresight in order to model what future developments and possible ways forward look like for UNCDF.

Finance: Development Finance Expertise    

• Ability to develop and work with innovative financing mechanisms and instruments, e.g. social/development impact bonds, guarantees, climate finance, etc.

Level of Education: Bachelor Degree

Work Hours: 8

Experience in Months: No requirements