Sr. Financial Specialist

Do you want to build a career that is truly worthwhile? Working at the World Bank Group provides a unique opportunity for you to help our clients solve their greatest development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. Visit www.worldbank.org . About the Global Environment Facility (GEF) The Global Environment Facility (GEF) is a multilateral financial mechanism created in 1991 to provide grant and concessional financing to recipient countries for projects and programs that address biodiversity loss, climate change mitigation, degradation of international waters, land and forests, ozone depletion, elimination or reduction of persistent organic pollutants and mercury, all within the framework of sustainable development. The GEF unites 186 countries in partnership with international institutions (18 GEF Agencies), civil society organizations (CSOs), and the private sector to address global environmental issues while supporting national sustainable development initiatives. An independently operating financial organization, GEF is the designated financial mechanism for five international environmental conventions (Conventions): the Convention on Biological Diversity, the Stockholm Convention on Persistent Organic Pollutants, and the UN Framework Convention on Climate Change (UNFCCC) and Minamata Convention on Mercury. GEF is also a designated financial mechanism of the UN Convention to Combat Desertification. Since 1991, the GEF has achieved a strong track record with developing countries and countries with economies in transition, providing $27 billion and mobilizing $ 155 Bn in 2,300 active projects in over 149 countries. Over three decades, GEF and its Agencies have successfully used a wide array of non-grant instruments as concessional finance such as debt, equity, and guarantees to attract private sector investment and deliver global environmental benefits beyond business as usual. The GEF-9 Programming Directions recognized the importance of blended finance and increased the blended finance global program to 10% of GEF total Pledges (currently $390 million for the 2026-2030 period). Most importantly, over this period, the GEF will focus on mainstreaming blended finance across the GEF portfolio to achieve 25% of overall GEF resources that are invested in a manner that mobilize private capital. This focus will include expanding investments from the Blended Finance Global Program and actively reaching recipient Countries that will be incentivized to use blended finance approaches in their projects and programs. The GEF will also seek to promote multi-trust fund blended finance projects within the GEF Family of Funds (which include the Special Climate Change Fund, Least Developed Countries Fund and Global Biodiversity Framework Fund). The GEF Secretariat is a Vice-Presidential Unit (VPU) within the World Bank with approximately 100 staff. The GEF Secretariat is seeking a Senior Financial Specialist in Washington, DC to support the GEF Programming Division under the Blended Finance team. Duties and Accountabilities: The Sr. Financial Specialist will work in the GEF Blended Finance team within the GEF Programming Division and will work across geographic regions and thematic focal areas, as required. The Sr. Financial Specialist will work with Regional and Focal Area Teams on functions that require cooperation and collaboration related to the programming of Blended Finance resources. S/he will also support regional and country-level engagement with clients, Agencies and stakeholders to ensure that GEF recipient countries optimize their Blended Finance investments to achieve global environmental benefits. The Sr. Financial Specialist will also support GEF family of funds professionals reviewing blended finance projects. The Sr. Financial Specialist will work under the guidance of the Blended Finance Coordinator and will report to the Manager of the Programming Division. Specific duties include the following: • Build a pipeline of viable projects with GEF Agencies and Countries for GEF Council approval. The Sr. Financial Specialist will provide guidance to Agencies, Countries and colleagues on major issues involved in the development of blended finance project proposals and assist in overall preparation of work programs to be presented to Council. • Perform and manage reviews of project proposals under the Blended Finance Global Program and project proposals submitted by Countries in accordance with the agreed project review criteria and GEF Programming Directions. • Manage the preparation of annual reflow reporting in coordination with the GEF Trustee and GEF Agencies. The Sr. Financial Specialist will be required to review the existing processes for reflow reporting and repayment and seek to make recommendations to improve existing processes and policies. Additionally, the s/he will review GEF’s portfolio of ongoing projects through implementation, monitoring, and evaluation activities with GEF Agencies and countries. • Play an important role in developing blended finance policies and guidelines and support the overall GEF Programming Division. • Provide quality inputs to the CEO and senior management on country and thematic briefings, talking points, speeches, analytical/strategic documents. • Participate in the GEF work within the Country Engagement Strategy, including participation in country dialogues, expanded constituency workshops, and other relevant forums. As required, represent the GEF at a senior level at selected international; political, business, scientific and operational forums. • Undertake additional duties as directed by the Manager of the GEF Programming Division and, as delegated, by the Blended Finance Coordinator. Expertise and Qualifications The ideal candidate would have experience as an investment officer in a Multilateral Development Bank (MDB) or International Financial Institution (IFI) with expertise in multiple financial products including debt, guarantees, equity and blended finance. Project management skills such as reflow management and reporting will also be required. The candidate will have excellent financial skills and technical expertise in assessing financial structures. Additionally, the candidate’s strong communications skills will be evaluated since a significant part of the Senior Financial Specialist work will be to build capacity both internally and externally. The candidate needs to be familiar with the dynamics of the global environmental finance arena, including international negotiations of the Conventions, the GEF serves as financial mechanism.