Sustainable Finance Senior Associate

The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page. 

GGGI has a diverse portfolio of programs in developing countries around the world. These in-country programs, together with global products and services, focus on delivering results through an integrated approach of evidence-based green growth planning and implementation aligned to countries’ development priorities. The organization also focuses on knowledge development and management activities which build a strong theoretical and empirical basis for green growth, while providing concrete options and guidance for policymakers; as well as building the conditions for public and private green infrastructure investments. 

Government of Ecuador has embarked on an ambitious effort to increase the efficiency of its sustainable finance ecosystem by diversifying the country´s donor engagement, accessing underutilized climate funds and developing new and innovative finance mechanisms to de-risk mitigation and adaptation projects.

As a result, GGGI is rolling out a technical assistance program to the Government of Ecuador that aims to enhance the institutional capacity, strategic frameworks, financial instruments, and project pipeline of the country to increase the mobilization of sustainable finance for the implementation of the nationally determined contribution (NDC) and low carbon development.

POSITION SUMMARY
Based in Quito, the Sustainable Finance Senior Associate will support the implementation of innovative sustainable finance instruments, including thematic bonds, to mobilize sustainable finance for low-carbon development in Ecuador.  

The Senior Associate will actively liaise with national stakeholders while being based in the Ministry of Economy and Finance and will coordinate a team of local consultants. Moreover, the Senior Associate will coordinate the engagement with key stakeholders and the implementation of sustainable finance products. 

PURPOSE
Strengthen the Government of Ecuador´s institutional capacity to access international sustainable finance.
Delivery of technical assistance to public and private finance sector actors in Ecuador to develop sustainable finance instruments to secure long-term concession capital, including thematic bonds (green, social and sustainability).
Support investments projects cycle, including origination, evaluation, structuring, negotiating, and financial advisory until financial close of transactions.
Foster articulation and coordinate efforts with sustainable finance projects in Latin America and the Caribbean, especially in the Andean region.

ENGAGEMENT
Will report directly to the Ecuador Sustainable Finance Officer.
Support GGGI in the engagement with public and private, national and international stakeholders, including:
Build and maintain strong relationships with the Government of Ecuador, climate funds, multilateral development banks, donors and other potential donors and partners.
Engage with financial regulators to influence finance policy development and decision making.
Engage with focal points, accredited entities and executing entities of international climate funds, including the Green Climate Fund, Adaptation Fund and Global Environment Facility.
Support the engagement with government counterparts, negotiation MOUs, advance membership and Host Country Agreement negotiation. 
Represent GGGI Ecuador in national, regional and international events.

DELIVERY
Support the delivery of sustainable finance activities, including:

Identify capacity gaps related to sustainable finance instruments, policies and processes.
Develop and deliver sustainable finance capacity building material and communication materials, and conduct training and workshops targeting public and private sector stakeholders including local financial institutions.
Support the implementation of Ecuador Green Bond Framework.
Support the development of green/sustainable national project pipeline.
Support the monitoring of Debt for Nature Swaps in Ecuador (Galapagos Islands and Amazon Biocorridor Program) in close consultation with the Ministry of Economy and Finance of Ecuador.
Development of concept notes and funding proposals for international climate funds, including the Green Climate Fund, Adaptation Fund, and Global Environment Facility.
Elaborate technical reports on green finance products, generating alerts and recommendations;
Perform financial and technical monitoring of sustainable finance projects and prepare technical report on sustainable finance projects.
Delivery of knowledge sharing exercises on thematic bonds and sustainable finance with GGGI team and key stakeholders.
Organize and deliver consultation and validation workshops to validate products and activities 
Participate to GGGI-wide events to create awareness about GGGI Ecuador Program and activities Support the Andean representative on the development of technical proposals for new resource mobilization.
Collaborate and provide guideline to firms and consultants when requested. 

REQUIREMENTS
QUALIFICATIONS
Must be a citizen of Ecuador or have a valid work permit in Ecuador.
Bachelor’s degree in Finance, Economics or other related fields.
An advanced degree in Finance, Public Administration, Economics, Sustainable Development, or other relevant field is a plus.
Preferred at least 5 years of professional experience in the financial sector, in banking or public finance institutions.
Preferably 2 years of professional experience in sustainable finance.
Prior experience with at least one of the following instruments is a strong asset: thematic bonds, green credit/loans or debt for nature/climate swaps.
Prior experience sourcing, structuring, and closing climate change mitigation and or adaptation investments is a strong asset.
Experience and familiarity with sustainable banking initiatives and standards is required.
Verbal and written fluency in English and Spanish is required.
Prior experience working the Ministry of Finance of Ecuador is a strong asset.
Knowledge of and experience in adhering to internationally agreed environmental and social safeguards (ESS) and gender-sensitive design requirements.  

FUNCTIONAL
Leadership, teamwork and creative problem-solving abilities.
Ability to develop and maintain working relations with financial sector stakeholders.
Committed to learning about the growing field of sustainable finance.
Excellent ability to multi-task and prioritize under stressful circumstances.
Ability to interact and form relationships with high-level government officials and partners.
Excels at problem solving, ask questions and seeks support when needed, shares easily knowledge with others both internally as externally.
Strong ability to work independently and/or remotely, while maintaining productivity. 

CORPORATE
Understand and actively support GGGI’s mission, vision and values.
Promote the optimum use of public resources.
Promote an organizational culture of trust, transparency, respect and partnership.
Processes and shares information easily.
Manage emotions and stress positively, builds rapport and resolves conflict easily.
Promote creativity and innovation among staff. 
Be able to lead where needed and provide solutions to project-level challenges.

WORKING CONDITIONS
The Sustainable Finance Associate is an X7 grade level in GGGI’s Ecuador national salary scale. For the X7 national salary scale, the annual base salary starts from USD 39,102. Determination of base salary is subject to candidate's experience, academic background and internal equity.

GGGI provides 15% of base salary towards retirement plan/long-term savings, 27 days of annual leave, and private health insurance that covers dental and vision. 

GGGI is committed to providing a work environment that is sufficiently flexible to accommodate diverse life-cycle challenges and assist Staff members to achieve a better balance between work and personal/family commitments, thus ensuring high performance, long-term productivity, and well-being of Staff members.

The chosen candidate is expected to be based in Quito, at the premises of the Ministry of Economy and Finance.