This is a re-advertisement. Previous applicants need not apply. Applications received in response to previous posting will be considered together with applications received in response to this advertisement.
This is a special fixed-term appointment, coterminous with the initial availability period of the Asia-Pacific Climate Finance Fund (the Fund), which ends in December 2022. At the end of the period, the appointment may, at the option of ADB and conditional upon extension of the availability period of the Fund, be extended for a further fixed period or allowed to lapse. A special fixed-term appointment will automatically and without prior notice expire at the end of the original or extended term. If the successful candidate is an ADB staff member holding a regular appointment, his/her regular appointment will be converted to a special fixed-term appointment.
Close relatives [Close relatives refer to spouse, children, mother, father, brother and sister, niece, nephew, aunt and uncle] of ADB staff, except spouses of international staff, are not eligible for recruitment and appointment to staff positions. Applicants are expected to disclose if they have any relative/s by consanguinity/blood, by adoption and/or by affinity/marriage presently employed in ADB.
Staff on probation are not eligible to apply. Applicants for promotion must have served at their position for at least one year and must have normally served at their personal level for at least two years immediately preceding the date of the vacancy closing date. Applicants for lateral transfer must have served at their position and personal level for at least one year immediately preceding the date of the vacancy closing date (reference A.O. 2.03, paragraphs 5.8 and 5.9)
In the event that the staff appointed to a new category (i.e. from AS to NS, or from NS to IS) is rated at 2 or lower in the first two performance reviews after appointment at the new level, they will return to the level occupied immediately prior to their appointment in the new category.
Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 68 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.
ADB only hires nationals of its 68 members.
The position is assigned in the Climate Change and Disaster Risk Management Division (SDCD) of the Sustainable Development and Climate Change Department (SDCC). SDCD is leading the Bank for responding to the growing need for innovative policies, institutions, and investments to lead the region to a low-carbon and climate-resilient future, while also seeking to help its member countries become more resilient to the effects of disasters.
To view ADB Organizational Chart, please click here.
The Senior Climate Change Specialist (Climate Finance) will take the lead role in identifying, developing, sourcing and leading the deployment of Asia-Pacific Climate Finance Fund (ACliFF) financial resources to support the implementation of financial risk management products within the scope of both ADB and third party climate change mitigation, adaptation, and/or disaster risk management projects in ADB DMCs.[The Asia-Pacific Climate Finance Fund is a multi-donor trust fund established in April 2017. The objective of the fund is to support the development and implementation of financial risk management products that can help unlock capital for climate investments and improve resilience to the impact of climate change. ADB. 2017. Establishment of Asia-Pacific Climate Finance Fund. Manila.] The job will involve a high level of interaction with ACliFF financing partners, ADB management and staff, internal working groups, financial risk management product providers (e.g. insurance and reinsurance companies, guarantee companies, and financial institutions), project sponsors, and DMC officials, in order to identify projects that are eligible for ACliFF support, review and process fund applications, and manage the Fund's overall portfolio efficiently. The incumbent will report to Director, SDCD and supervise national staff and national and international consultants supporting ACliFF operations.
In line with the Fund's establishment paper and implementation guidelines, identify opportunities for ACliFF engagement in consultation with ADB operational departments, DMC governments, financial risk management product providers, project partners and sponsors;
In consultation with specialists from other ADB departments, support the generation and effective processing of ACliFF funding proposals;
Report on the Fund's operations and portfolio of supported products, in particular, leading the preparation and dissemination of the Annual Progress Report and Annual Work Plan; and in organizing annual consultation meetings with the Financing Partners;
Make policy and procedural recommendations regarding the Fund's operations and implementation;
Facilitate the interaction between ADB and Financing Partners and/or project sponsors and third parties, including on requests for contribution from Financing Partners; and participation in Fund co-financing transactions including contract negotiations with project sponsors and third parties as necessary;
Ensure active engagement with external partners including potential Financing Partners, partnerships (e.g. InsuResilience, NDC Partnership), insurers, reinsurers, guarantee companies, banks and other financial institutions, technology and knowledge providers; and internally within ADB and across ADB-linked entities to ensure compatibility with ADB project cycles and country engagement strategies; and
Supervise the contracting and management of the Fund Management Team in the broader operation and management of the Fund, including servicing the needs of the Financing Partners.
b. Operational Advice and Support
Contribute toward the ongoing identification, development and implementation of innovative approaches, products and services supported through ACliFF that directly address climate investment risk and extreme weather risk in ADB's DMCs, as required.
c. Knowledge Sharing and External Relations
Support senior management and represent ACliFF in conferences/workshops; and
Participate in and contribute to relevant internal and external training and conferences and other activities for advocacy, dissemination and knowledge building.
d. Staff Supervision
Provide leadership and support to reporting staff;
Supervise the performance of reporting staff, providing clear direction and regular monitoring and feedback on performance; and
Ensure the on-going learning and development of reporting staff.
Relevant Experience & Requirements
Advance degree in finance, economics, business administration, or relevant fields. Alternatively, university degree in related fields combined with additional relevant professional experience can be considered;
Minimum of 10 years of relevant professional experience in developing countries in the Asia-Pacific region, with special focus on project management and application of financial risk management products in the areas of climate change mitigation and adaptation and disaster risk management;
A proven results focused transaction completion track record involving multiples parties and stakeholders, preferably in a private sector context (e.g. insurance or reinsurance industry);
Advanced project management skills and experience in managing a portfolio of complex commercial transactions in a time-efficient manner;
Detailed understanding and practical experience of barriers and opportunities for the application of financial risk management products in the following areas: energy, agriculture, climate adaptation and/or disaster risk management, preferably in the Asia-Pacific context;
Experience in performing risk analysis and due diligence for climate investment and climate and disaster risk management projects;
Superior communication and negotiation skills including excellent written and oral communication skills in English. Strong analytical and strategic thinking skills.
Please refer to the link for ADB Competency Framework for International Staff Level 5.
ADB offers competitive remuneration and a comprehensive benefits package. Actual appointment salary will be based on ADB's standards and computation, taking into account the selected individual's qualifications and experience.
ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.
Please note that the actual level and salary will be based on qualifications of the selected candidate.