Investment Specialist (P4)
- United Nations Capital Development Fund
- New York, NY
- Job Type
- Deadline for Applications
- Where to Apply
United Nations Capital Development Fund
Job Description: UNCDF is the UN’s capital investment agency for the world’s 48 least developed countries (LDCs). With its capital mandate and instruments, UNCDF designs finance models to unlock private resources and to reduce poverty and support local economic development.
UNCDF can use a combination of grants, reimbursable grants, debt and guarantees to support start‐up business models and to de‐risk investments to SMEs. Up till today UNCDF’s use of debt and guarantees has been limited but there is now an ambition to make better use of these financial instruments.
The Investment Specialist will advise and support the work of the UNCDF team from the origination to the execution and monitoring of UNCDF debt and guarantee transactions, primarily to SMEs. The overall responsibility of the Investment Specialist is to help UNCDF augment its investment mandate, through five categories:
(1) Investment operations:
-Provide guidance through the entire investment process, from the initial assessment of new opportunities, credit analysis, due diligence, and to contributions to the portfolio management and follow up activities. It will include working closely with UNCDFs local offices
-Specifically support the structuring of deals and conduct credit score analysis and draft a credit opinion independently. In structuring the transactions the aim is often to maximize the potential for commercial co-financing and catalyzing additional sources of capital for the same social purpose.
-Provide input and analyze new debt and guarantee propositions, preparing screening and credit proposals as well as preparing monitoring papers
-Complete discrete due diligence task such as company, industry and economic analysis
-Assess SME company financial accounts (balance sheet, income statement and cash flow analysis)
-Model debt service coverage – assess and build financial models in excel
-Consult with the legal team about the existing legal documentation and prepare the proposal
-Analyze the summary financial and legal issues including the capital structure and all necessary contractual arrangements with investors (in consultation with the legal team)
-Provide input and comments on projects, policy and other papers related to operations and development across a range of key themes and sectors.
(3) Support the creation of a Fund:
-Provide advice in creating a fund structure for debt instruments in LDCs as a joint venture with a partner institution.
-Assist in the design and set up of the fund such as establishing the fund structure, investment objectives, investment eligibility criteria, expected returns, risk appetite, potential fund size, fund raising etc.
(4) Support investment operations at UNCDF:
-Advise and guide in building the appropriate infrastructure for the deployment of different financial instruments to allow UNCDF to augment its debt and guarantee operations
-Train UNCDF staff in the use of financial tools such as debt and guarantees
(5) Knowledge management:
-Coordinate documentation of progress, performance, and lessons learnt
-Adopt approaches to ensure that the lessons learnt are collected and disseminated
-An advanced university degree (Master’s or higher) in economics, finance, or business administration.
-Chartered Financial Analyst (CFA) designation, or similar is regarded as an asset
-At least 7 years of relevant experience within a mission-driven investing environment, e.g. a development finance institution, impact investing firm or similar.
-Experience working in venture capital and/or investment banking, and more specifically private credit experience in investments with a social mission in emerging/frontier markets.
-Active interest in investing in developing countries and understanding of emerging/frontier market environments, with a willingness to travel.
Experience regarded as additional merits:
– Prior experience in underwriting and execution of guarantee and other credit enhancement instruments
-Prior experience in sovereign or sub-sovereign lending
-Prior experience in project finance
-High level financial modeling (Microsoft Excel) and analysis ability
Excellent knowledge of the English language. Knowledge of French would be an asset.