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International Risk Specialist vacancy at Green Climate Fund (USD123,770 Salary+Benefits): APPLY NOW!

Risk Specialist Vacancy at GCF

Location: Incheon, South Korea (ICN), KR

Company: Green Climate Fund
Deadline: 22 October 2023 (11:59 PM KST)
Job Category: International
Salary: USD 123,770 net (plus attractive benefits, that include the following allowances (as applicable): Relocation, dependency, housing, education assistance and home country travel.

The mission of the Green Climate Fund is to assist developing countries to respond to climate change while bringing prosperity to their people.

Established in 2010, the GCF invests in transformational climate projects in the developing world. The Fund makes an ambitious contribution to global climate action and channels significant financial resources into developing countries to help build low-emission and climate-resilient societies. It is country-driven and undertakes actions that reflect the circumstances of each country concerned and its national aspirations. The GCF is a key enabler of the 2015 Paris Agreement on Climate Change.

Since its establishment, the GCF has approved 216 projects in 129 countries and has committed USD 12.0 billion in climate finance. In addition, it has built up an extensive program to support developing countries to identify their needs, in particular, those who are most vulnerable to climate change impacts.

The GCF’s diverse workforce is advancing its mission from its headquarters in South Korea. Our talented staff makes unique contributions to the Fund, enriching the institution through their combined expertise and professional commitment.

Risk Specialist Position Objective
The mission of the Office of Risk Management and Compliance (ORMC) led by the Chief Risk and Compliance Officer is to: develop, manage and update comprehensive risk and compliance frameworks, policies and processes; identify, prioritize, monitor and manage actual and potential risks affecting the Green Climate Fund (GCF); and review pipeline and portfolio investments and programs to ensure that they are within the Fund’s risk tolerances,  comply with the Fund’s compliance and risk policies, and achieve optimal risk-reward for the Fund. The ORMC has two Units, the Risk Unit and the Compliance Unit.

The Risk Specialist-Enterprise Risk and Risk Policy will be responsible for 

  • Overseeing the identification and coordinating the management of enterprise risks affecting the Fund
  • Ensuring that the Fund’s risk management framework is updated and maintained to reflect the needs of the organization now and in the future and enable the Fund to identify and manage risks that could affect the achievement of its objectives
  • Utilizing an enterprise risk reporting approach to identify, monitor and report indicators relevant to GCF’s programmatic and institutional risks
  • Supporting activities of the Risk Management Committee of the Board.   

Risk Specialist Purpose

  • Working closely with colleagues across the Secretariat, the Board and stakeholders, adapt and maintain the risk management framework to ensure that it is fit-for-purpose.
  • Evolve the risk identification, monitoring and reporting methodologies and tools to provide the Board and senior management with accurate, timely and forward-looking information needed to set and execute strategy.
  • Anticipate hurdles and resource needs for developing new and improving existing policies, guidelines, tools and processes and plan resources, define timeline and organize work accordingly.

Risk Specialist Engagement

  • Develop and pursue influencing strategies with key stakeholders and decision makers in order to create an environment open to change and to achieve the specific changes in risk management framework, policies, tools, and processes. 
  • Advocate for risk policies, procedures, processes and tools with stakeholders to ensure broad-based support.
  • Act as a subject matter expert at policy governance and relevant risk working group meetings.

Risk Specialist Delivery

  • Coordinate the revision of the Risk Management Framework and related policies and guidelines to ensure alignment with the Fund’s mandate and strategy.
  • Create, update and maintain effective and comprehensive reporting for the Board, Risk Management Committee and senior management pertaining to enterprise-wide risk indicators including developing additional risk metrics and dashboards.
  • Working closely with the Internal Operations Control function, lead efforts to identify and monitor operational risks. Provide guidance and support on the development and implementation of control measures. 
  • Organize knowledge management resources and tools to strengthen the enterprise risk management process.

Risk Specialist Requirements (Education, experience, technical competencies required of the job)

  • Master’s degree in business, finance, economics, policy or equivalent. CFA / PRM / FRM / CIA or other Professional Designation would be an advantage.
  • At least nine (9) years of relevant experience preferably in international financial institution, multi-lateral financial institutions, impact funds, or other similar institutions, or a relevant bachelor’s degree with an additional 2 years of relevant work experience.
  • A minimum of 5 years in enterprise-wide risk management; demonstrating progression of responsibilities.
  • Demonstrated ability to work in a multi-disciplinary and multi-cultural environment.
  • Demonstrated experience of working in international and fast-paced organizations.
  • Strong communication and presentation skills, including ability to synthesize and communicate complex ideas and concepts clearly.
  • Strong interpersonal skills and ability to resolve conflicts with diplomacy. 
  • Experience in writing risk policies in financial institutions 
  • Proficiency in reporting tools such as Tableau is an advantage.
  • Fluency in English is essential; knowledge of another United Nations language is an advantage.

The closing date for application is 22 October 2023. Applications for Risk Specialist Vacancy submitted after the deadline may not be considered.

*The person assessed by the Selection Panel as most suitable for the Risk Specialistposition will be proposed for appointment. Selection among short-listed candidates will also take into account performance at interview, appropriate testing, and references. 

Applications for the Risk Specialist Vacancy from women and nationals of developing countries are strongly encouraged.



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