Consultant for Climate Risk Financing

Job Posting Organization:
The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda and promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system. Established in 1972, UNEP has been at the forefront of environmental governance and advocacy, working with governments, civil society, and the private sector to address pressing environmental challenges. With a workforce of over 1,000 employees, UNEP operates in more than 150 countries, focusing on areas such as climate change, sustainable development, and biodiversity. UNEP Finance Initiative (UNEP FI) is a strategic partnership between the United Nations and over 500 banks, insurers, and investors, aiming to promote sustainable finance and align the financial industry with the Paris Agreement and Sustainable Development Goals. UNEP FI has been instrumental in shaping the international sustainable finance agenda for over 32 years, driving action on climate change and supporting financial institutions in their efforts to manage climate risks and opportunities.

Job Overview:
The Consultant for Climate Risk Financing will play a crucial role in strengthening the UNEP FI and PSI V20 SIF’s implementation of its mandate to support the development of climate adaptation projects for Micro, Small, and Medium Enterprises (MSMEs) in V20 markets. The consultant will be responsible for conducting physical climate risk assessments, developing climate risk financing strategies, and providing capacity-building support to financial institutions. The position requires a strong understanding of climate risk modelling and parametric risk financing, as well as the ability to engage with various stakeholders, including banks, microfinance institutions, and MSME clients. The consultant will work closely with the UNEP FI’s Adaptation & Resilience team and the V20 SIF Secretariat to identify financing pathways for climate adaptation and pilot A&R financing methodologies. The overall goal is to enhance the resilience of MSMEs in the face of climate change and to support the financial industry in addressing climate risks effectively.

Duties and Responsibilities:
The consultant will undertake a variety of tasks, including: (i) conducting parametric risk modelling and stress testing for the MSME credit portfolio of partner financial institutions; (ii) developing a climate risk financing strategy based on a risk layering approach; (iii) creating a gender-sensitive advisory services package for MSME clients; (iv) building the capacities of partner financial institutions to offer climate risk advisory services; (v) coordinating national-level workshops to share insights and findings from the project; and (vi) preparing a final project report detailing activities undertaken, insights gained, and recommendations for scaling up climate risk financing strategies. The consultant will also be responsible for liaising with various stakeholders, including banks, microfinance institutions, and government agencies, to ensure the successful implementation of project activities.

Required Qualifications:
Candidates must possess a master’s degree in actuarial science, statistics, economics, finance, development studies, or business. A bachelor’s degree may be accepted in lieu of a master’s degree if the candidate has at least 12 years of relevant experience. Additionally, candidates should have at least ten years of relevant work experience in climate risk modelling and parametric risk financing, with demonstrated knowledge of the insurance and risk financing ecosystem in emerging markets. Experience in banking, microfinance, inclusive insurance, and climate risk insurance is also required, along with prior experience in project management related to climate risk financing and parametric insurance.

Educational Background:
A master’s degree in a relevant field such as actuarial science, statistics, economics, finance, development studies, or business is required. Alternatively, a bachelor’s degree may be considered if the candidate has significant relevant experience (12 years or more).

Experience:
Candidates should have a minimum of ten years of relevant work experience in climate risk modelling and parametric risk financing, with a strong understanding of the insurance and risk financing ecosystem in emerging markets. Additionally, at least seven years of experience in banking, microfinance, inclusive insurance, and climate risk insurance is required. Prior experience in climate risk financing, parametric insurance, and project management is highly advantageous.

Languages:
Fluency in English is required as it is the working language of UNEP FI. Knowledge of other United Nations languages is considered an asset, enhancing the candidate's ability to communicate effectively in a multicultural environment.

Additional Notes:
The position is remote and is expected to last for a duration of 5 months. The consultant will work under the overall supervision of the Head of UNEP FI and will report directly to the Head of Climate. The role requires strong interpersonal skills and the ability to establish and maintain good working relationships in a multicultural and geographically dispersed team. The United Nations does not charge a fee at any stage of the recruitment process, ensuring a fair and transparent hiring process.