Development Finance Specialist (Open to Ethiopian Nationals Only)

Background

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UNDP 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.

Background and Organizational Context 

Ethiopia has developed the Homegrown Economic Reform Programme (HGER), that aims to address structural issues and sustain a rapid and inclusive economic growth setting the country on a path to prosperity. The HGER call for building a resilient and diversified middle-income economy, driven by the private sector; eradicating extreme poverty and hunger; building human capabilities; creating a modern policy and institutional framework; and creating an efficient, resilient, and well-functioning financial market. The HGER will implement a forthcoming 10-Year Perspective Plan, which is based on five strategic pillars: macroeconomic stability; quality of economic growth; productivity and competitiveness; implementation capacity at all levels; and a resilient green economy. The government of Ethiopia is committed to transform the finance sector; as enabler for economic growth while aspiring to make the sector inclusive, innovative and digitalized. In this perspective, National Bank of Ethiopia is now crafting a strategy to digitalize finance. 

Aligned fully with this reform and guided by the UNDP strategic offer for Africa and the United Nations Sustainable Development Cooperation Framework (UNSDCF), the Country Programme Document (CPD) 2020-2025 approved in June 2020 is assisting Ethiopia to overcome its structural challenges as it strives to become a democratic, peaceful and prosperous middle-income country. UNDP will support a successful transition to democratic governance, address drivers of conflict to consolidate and build peace, foster enabling conditions for expanded job creation by the private sector (especially MSMEs) and accelerate the transition to a green economy resilient to climate change. 

In line with the above context and towards ensuring the implementation of the Country Program Document (CPD) for the period of 2020 – 2025, the UNDP CO has identified major focus areas in supporting structural reforms in Ethiopia. Among these areas is promoting access to innovative and inclusive finance, promotion of innovation and digitalization as well as entrepreneurship development in support of businesses (MSMEs) towards intensive job creation. These interventions are advanced by the Inclusive Economic Transformation (IET) unit, one of the three Units in the CO established following the reconfiguration exercise.  UNDP Ethiopia CO is already working with the National Bank of Ethiopia, Ethiopian Capital Markets Authority as well as the Development Bank of Ethiopia, among other institutions of government in advancing reforms in these areas. Currently, UNDP along with NBE and ECMA has co-created the innovative fiancé lab (IFL) that is expected to play a strategic and catalytic role to address the challenges of financing MSMEs and start-ups using a three-pronged approach: (a) mobilizing a catalytic capital to address the supply constraints through the Enterprise Financing Facility (EFF); (b) capacity building and project development through technical assistance facility (TAF) to harness the demand side gap; c) bridging the gap by harnessing the potential of the knowledge sharing unit (KSU) that promotes policy and regulatory reforms; and d) promote regulatory sandbox to advance testing of new instruments and do policy advocacy for market-oriented innovative and inclusive finance solution for MSMEs and the broader digital and financial ecosystems.

Access to finance is relatively new area for the CO and the dynamism in the sector is quite complex. Therefore, the CO is seeking to deploy a development finance program specialist who would provide technical and advisory support to the country office in the areas of financial inclusion, mapping the use of innovative and inclusive financial instruments, promotion of digital payment systems, ensuring access to finance for MSMEs who are considered as missing middle and work on policy and strategy related matters in the whole finance sector development. The program specialist working within the framework of the UNSCDF, CPD and inline with the UNDP Sustainable Finance Framework will advise and support UNDP’s responses through its program and interventions including in the areas of identifying and executing program interventions related to financial inclusion, business development service provision mechanisms for MSMEs and catalyzing the SDG financing at national level and the overall finance for development as a strategic enabler. In addition, the program specialist will closely follow up, guide and support the Innovative Finance Lab that UNDP and National Bank of Ethiopia and Ethiopian Capital Markets Authority have co-created in 2022.

In light of this, UNDP Ethiopia intends to recruit a full time Programme Specialist – on Development Finance with the intention to promote inclusive and innovative finance and sectoral transformations. The Programme Specialist will work under the overall guidance of the Resident Representative and Deputy Resident Representative (programs) and will be placed under the direct supervision of the Team Leader – Inclusive Economic Transformation Unit.

Position Purpose 

The incumbent will be responsible for the overall management of the UNDP programme in the area of promoting access to finance for all, innovative and cost-effective approaches including digitalization and creating an enabling environment and ecosystem specifically for the MSMEs and the overall financial market. The Programme Specialist works in close collaboration with the Country Office (CO) projects and programme staff, operations team, programme staff in other UN Agencies particularly with UNCDF, UNDP HQs staff, Sustainable Finance Hub, and Government officials, technical advisors and experts, multi-lateral and bi-lateral donors and civil society to successfully implement the UNDP programme. The Programme Specialist works on a daily basis with colleagues in the UNDP CO and at the project level, necessitating that the incumbent be able to develop and maintain viable working relationships with colleagues across the organization and in government offices as well as financial institutions, and be able to work with them in a responsive client orientation and in results oriented and problem-solving manner. As part of the CO’s commitment to innovation, the incumbent will work with the Accelerator Lab team and other colleagues to explore, experiment and apply innovative approaches in the area of innovative finance including adopting protocols that are supported by evidence and best practices.

UNDP adopts a portfolio approach to accommodate changing business needs and leverage linkages across interventions to achieve its strategic goals. Therefore, UNDP personnel are expected to work across units, functions, teams, and projects in multidisciplinary teams in order to enhance and enable horizontal collaboration.

Summary of Key Functions: 

• Lead analytical work and provide high-quality technical advisory services. 
• Ensure effective planning and implementation of programmes and projects to expand development finance and financial inclusion.
• Develop and sustain strategic partnerships including successful resource mobilization, focusing on achievement of the following results:
• Policy and strategic advisory services to the CO in the areas of development finance and specifically financial inclusion and access to innovative finance for MSMEs;
• Knowledge management and thought leadership in areas of development finance.

Key Duties and Accountabilities

1.) Lead analytical work and provide high-quality technical advisory services. 

• Co-designs, organizes and participates in the execution of analytical work that builds a strong knowledge base on development finance issues in Ethiopia, working closely with the in-house Policy Unit and with national and international partners, drawing on global good practice; 
• Provides high-quality, expert level and evidence-based advice to government and other partners on institutional, policy, legal and regulatory issues and options for expanding the scope, scale and effectiveness of development financing and financial inclusion in Ethiopia (e.g. impact, green bonds, blended finance, microinsurance, microfinance); 
• Participates in technical work related to the rollout of new and innovative financing instruments (e.g. legislation, regulatory rules, taxes and subsidies); 
• Functions as the Head a.i. of the UNDP Innovative Finance Lab, playing a central technical role in its design, launch and on-going operations, including testing/prototyping of new instruments, business models, delivery systems, working closely with the UNDP Accelerator Lab.; 
• Synthesizes good practices and lessons learnt that are directly relevant to policy development and programme design and implementation.

2.)  Ensure effective planning and implementation of programmes and projects to expand development finance and financial inclusion 

• Designs and formulates programmes and projects for development finance and financial inclusion ecosystem reform and development that address the areas of work outlined in the Country Programme Document (CPD); Manages, supports and coordinates timely, transparent and effective implementation of programmes and projects collaborating closely with implementing partners and responsible parties at federal and regional levels; 
• Provides technical advice to Government in assuming leadership and strategic oversight of the planning, budgeting, implementation and monitoring of programmes and projects; 
• Ensures programmatic collaboration and performance monitoring of ecosystem reform and development portfolio across the Country Programme, working closely with other programme staff (e.g. Policy Unit, Accelerator Lab, innovation ecosystem, ICT start-ups);
• Provides technical support and expert advice for monitoring and reviews of the UNSDCF and the Country Programme in the area of development finance and financial inclusion.

3.)  Develop and sustain strategic partnerships including successful resource mobilization, focusing on achievement of the following results. 

• Develops and maintains strong collaborative relationships with the Government at federal and regional levels, development partners (WB, EU, EIB, AfDB, DFID, others) and sister UN agencies/entities (including UNCDF); 
• Embeds UNDP within and, where needed, builds national, regional and international practitioner networks dedicated to development finance and financial inclusion;
• Develops and sustains deep and wide-ranging policy and programmatic partnerships with the private sector at national and regional levels, especially financial institutions;
• Initiates, formulates and effectively follows-through on an innovative fundraising/resource mobilization strategy that elicits financial support from a wide range of private, non-profit and public sector partners, both domestic and external, to sustain and expand UNDP programmes and projects; Provides donor intelligence in the areas of development finance and financial inclusion; 
• Acts as the lead technical representative of UNDP in professional and decision-making for a dealing with development finance and financial inclusion.

4.) Policy and strategic advisory services to the CO in the areas of development finance and specifically financial inclusion and access to innovative finance for MSMEs

• Map and explore policy related constraints and challenges in Ethiopia towards development finance and ensuring MSME’s access to finance; 
• Facilitate the development and execution of financial inclusion strategy in Ethiopia as well as for the UNDP Ethiopia CO;
• In collaboration with NBE and the policy hub of UNDP, identify research agendas in inclusive finance, SDG financing as well as innovative finance mechanisms and develop periodic policy briefs; 
• Aligning the work of the CO with the regional finance hub in South Africa.

5.) Knowledge management and thought leadership in areas of development finance 

• Maintain a deep and up-to-date understanding of the development finance agenda in Ethiopia including policy, legal, regulatory, institutional, financing and operational issues affecting development in Ethiopia;
• Lead and guide analytical work in the areas of development finance;
• Enable and support in-depth assessments of UNDP and national programmes to identify lessons learned and good practices as well as contribute to knowledge networks and communities of practice;
• Organize and/or support specialist training for staff in UNDP and partner entities; 
• Prepare knowledge products and support the public-private sector consultation and dialogue through supporting the dialogue structure on development finance; 
• Facilitate documentation and sharing of knowledge in the areas of development finance using the knowledge sharing unit of the innovative finance lab.

Expected Demonstration of Competencies

Core Competencies

Achieve Results:  LEVEL 3: Set and align challenging, achievable objectives for multiple projects, have lasting impact 

Think Innovatively:  LEVEL 3: Proactively mitigate potential risks, develop new ideas to solve complex problems 

Learn Continuously:  LEVEL 3: Create and act on opportunities to expand horizons, diversify experiences

Adapt with Agility:  LEVEL 3: Proactively initiate and champion change, manage multiple competing demands  

Act with Determination: LEVEL 3: Think beyond immediate task/barriers and take action to achieve greater results

Engage and Partner:  LEVEL 3: Political savvy, navigate complex landscape, champion inter-agency collaboration

Enable Diversity and Inclusion  LEVEL 3: Appreciate benefits of diverse workforce and champion inclusivity 

Cross-Functional & Technical competencies 

Results-based Management Ability to manage programmes and projects with a focus at improved performance and demonstrable results

Project Management: Ability to plan, organize, prioritize and control resources, procedures and protocols to achieve specific goals

Portfolio Management: Ability to select, prioritize and control the organization’s 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

Monitoring: Ability to provide managers and key stakeholders with regular feedback on the consistency or discrepancy between planned and actual activities and programme performance and results

Working with Evidence and Data: Ability to inspect, cleanse, transform and model data with the goal of discovering useful information, informing conclusions and supporting decision-making

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

Effectiveness: Project Quality Assurance

Required Skills and Experience

Education 

• Advanced university degree (master’s degree or equivalent)  development finance, business administration, economics or relevant related fields is required, or
• A first-level university degree (bachelor’s degree) in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree 

Experience, Knowledge, and Skills

• Minimum of 5 years (with master’s degree) or 7 years (with bachelor’s degree) of relevant experience in facilitating access to finance for SMEs, in designing programs geared towards development finance and, regulatory framework including sandbox;  
• Experience of working with financial institutions (e.g. commercial banks, investment banks, pension funds) and/or development finance institutions (DFIs) and private sector including start-ups and growth-oriented SMEs is advantageous;
• Experience of working with financial institutions (public and private) as well as with private sector including start-ups and growth-oriented SMEs is desired;
• Relevant education, experience, and skills in designing development finance programs and facilitating incubation and acceleration programs for enterprises and linking SMEs with financing opportunities is desired;
• Skills in designing innovative and inclusive access to finance products, instruments and mechanisms;
• Experience in innovation, agility, networking, and use of digital platforms is desired;
• Hands-on experience in design, monitoring and evaluation of development finance projects ; Demonstrated ability to raise funds from diverse sources is desired;
• Experience in the use of computers and office software packages (MS Word, Excel, etc.) and advanced knowledge of spreadsheets and web-based management systems such as ERP financials and database packages is required;
• Proven ability to work independently or under pressure and handle multiple activities is desired. 

Languages: 

• Fluency in the UN language of the duty station (English) is required. 
• Knowledge of another UN language is desirable

Disclaimer

Applicant information about UNDP rosters

Note: UNDP reserves the right to select one or more candidates from this vacancy announcement.  We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience, and educational requirements.

Non-discrimination

UNDP has a zero-tolerance policy towards sexual exploitation and misconduct, sexual harassment, and abuse of authority. All selected candidates will, therefore, undergo rigorous reference and background checks, and will be expected to adhere to these standards and principles.  

UNDP is an equal opportunity and inclusive employer that does not discriminate based on race, sex, gender identity, religion, nationality, ethnic origin, sexual orientation, disability, pregnancy, age, language, social origin or other status.

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