Investment Officer
- Référence cDiscussion: 1065262
- Publié le: 29/04/2020 à 08h42min27s
- Niveau d'études: Bac + 3
- Expérience: 5 ans
- Expire le: 10-05-2020
PNUD
Dakar,Sénégal
Humanitaire (ONG, Associations, ...), Projet/programme de développement
Investment Officer
Publié pour le compte de : UNCDF
Lieu : Dakar, SENEGAL
Date limite de candidature : 10-May-20 (Minuit New York, États-Unis)
Type de contrat : Individual Contract
Niveau du poste : International Consultant
Langues requises : Anglais Français
Date de commencement : (date à laquelle le candidat sélectionné doit commencer) 01-Jun-2020
Durée du contrat initial: Up to 150 person-days per year
Durée prévue de la mission : 12 months with the possibility of extension for two (2) more years
Historique
1) GENERAL BACKGROUND
The United Nations Capital Development Fund (UNCDF) makes public and private finance work for the poor in the world’s 47 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.
UNCDF’s financing models work through three channels: inclusive digital economies, connecting individuals, households, and small businesses with financial eco-systems that catalyze participation in the local economy, and provide tools to climb out of poverty and manage financial lives; local development finance, that capacitates localities through fiscal decentralization, innovative municipal finance, and structured project finance to drive local economic expansion and sustainable development; and investment finance, that provides catalytic financial structuring, de-risking, and capital deployment to drive SDG impact and domestic resource mobilization. By strengthening how finance works for poor people at the household, small enterprise, and local infrastructure levels, UNCDF contributes to Sustainable Development Goal-SDG 1 on eradicating poverty and SDG 17 on the means of implementation. By identifying those market segments where innovative financing models can have transformational impact in helping to reach the last mile and address exclusion and inequalities of access, UNCDF contributes to a broad diversity of SDGs.
In Africa, UNCDF is implementing various projects that aim at developing or strengthening innovative financing mechanisms and build a portfolio of SMEs and PPPs with municipalities projects with a transformative impact on local economic development. Implemented programmes include:
1) The MIF programme (Municipal Investment Finance) that aims to develop financing instruments that diversify and aggregate municipalities’ financial base, and support municipalities in the identification and structuring of Public-private partnership projects;
2) The IMIF (International Municipal Investment Fund) TAF (Technical Assistance Facility), where UNCDF Africa offices, together with UCLG and FMDV, will support in the sourcing and structuring of a pipeline of fully prepared local government investment opportunities mostly under US$25 million in total size. The pipeline of projects may benefit from UNCDF de-risking instruments (grants, reimbursable grants, concessional loans, guarantees) and capacity support to prepare projects to investment stage. UNCDF will also offer technical support to prepare the policy and regulatory environment for municipal finance. For the IMIF TAF, UNCDF will apply the Local Development Finance Dual Key pipeline development process to assess both the development impact and financial sustainability of each project to provide the IMIF with investment- ready opportunities.
UNCDF is therefore looking for an Investment Officer to provide both programs and the Regional Office with financial technical assistance, as specified in part 2 below.
Devoirs et responsabilités
2) OBJECTIVES - SCOPE OF WORK and IMPACT OF RESULTS
Under the supervision of Regional Technical Advisor for Local Development Finance Practice, Investment Officer will work on the following areas of intervention:
Item 1: Provide specialized project development and project finance advisory services that will lead to the financial closure and financial disbursement of investment projects, in particular Public-Private Partnership projects (PPP) with Municipalities:
-Support the development of a pipeline of bankable projects driven by municipalities in accordance with the IMIF and UNCDF guidelines;
-Support the process of commercially viable investment identification, investment appraisal, transaction structuring, development of financial models and debt or equity investment package, financial closing;
-Interact with local stakeholders (such as central and local government officials, private sector, banks, equity investors, project sponsors, development partners, etc.) during investment identification, project development life cycle and during external financing stages. Project sponsors can include local governments and other public or private local organizations;
Conduct field missions to the project sites, especially in the localities of the cities, to meet, interview and gather pertinent data and information from city officials, project developers, regulators and other relevant stakeholders to assess and establish the requirements of the Technical Assistance to be provided by the IMIF TAF. The goal of the field missions is to gauge project feasibility and preparedness, including policy and regulatory environment facilitations to bring the pilot set of projects to readiness. The assessment of the Technical Assistance needs will be based on a desk review, complete site inspection report, complete meetings with sub-project officials from Controlling and Relevant Ministries, City Officials and Regulators, Local Community, Business Associations, Academic and Civil Society, etc;
-Conduct stakeholder consultations with Project Developer and Partners, Off-taker/Buyers, Associations for Operators and Workers, Financiers, etc.
-Provide targeted technical investment support to the project sponsors identified. This includes review of feasibility studies, collection of relevant data to enhance business plans and confirm project bankability, technical due diligence, market assessment, financial advisory services and project finance transaction structuring;
-Support the establishment of co-financing relationships with debt providers and equity investors; nurture relationships and manage activities needed to secure co-financing of supported investments;
-Facilitate the required technical studies by engaging the project sponsors, consultants, local authorities and communities as appropriate, including the development of TORs that reflect MIF / IMIF and UNCDF requirements and support the procurement processes, under the guidance of the MIF Global Program Manager;
-Identify alternative financing sources including credit enhancements, guarantees, debt, and equity, including preparation and participation in negotiations with financiers’ review of term sheets, coordination with project sponsors and support of lender and investor due diligence;
-Prepare and facilitate technical missions for investment project validation and pipeline development;
-Offer technical support to prepare the policy and regulatory environment for municipal finance;
-Liaise closely with teams from UNCDF local development finance projects responsible for measurement of transformative impact of investment projects, including climate change, water and energy management, food security, women’s economic empowerment and local economic development. Exchange data and information to ensure that selected projects meet the criteria for transformational impact on local economic development.
Item 2: Execute Investment process and Manage portfolio
-Develop and maintain the project management tool for each investment project and portfolio assigned;
-Provide weekly reports in the format agreed upon and other ad-hoc and periodic reporting;
-Ensure the delivery of the key results is on time and according to budget as assigned by the management;
-Undertake timely planning, budgeting and reporting in accordance with the guidelines of the Implementing Partner and UNCDF, in particular the MIF Global Program Manager;
-Establish and maintain an effective and efficient project monitoring system providing regular feedback on the project performance and update regularly risk and issue logs;
-Document and monitor local development impact of the investment in addition to financial viability criteria.
Item 3: Capacity development of key stakeholders of the programme in the areas of commercially viable investments
-Provide support the UNCDF capacity development and training programme, ensuring programme knowledge generation and dissemination, including support to the development of MIF tools and toolkits, case studies, briefs, research documents, and client impact evaluations;
-Support and ensure timely delivery of training programs;
-Support and ensure the implementation of the UNCDF stakeholder mobilization and communication plan and organize and coordinate outreach activities with a variety of stakeholders, including municipalities;
-Provide specialist input in the development and application of the investment management processes and tools to facilitate knowledge transfer, training, and development of capacities of local stakeholders in the public and private sectors.
-Training to municipalities on innovative finance.
Expected Outputs:
-Improved ability and willingness of the relevant stakeholders to use domestic and private finance for Local Economic Development (LED), municipal finance and to create enabling national and international environments for sustained participation of the domestic financial sector in LED;
-Substantive partnerships strengthened with domestic financial providers, development partners, as well as with Development Bank.
-Planning, implementation and reporting on project activities conducted in an effective and timely manner, in accordance with guidelines of the Implementing Partner (IP) and of UNCDF;
-Administrative functions related to the project, including finance and procurement support, ensured in accordance with rules and regulations of the IP and UNCDF;
-Planned programme outputs and outcomes fully achieved in a timely manner, consistent with the expectations of private sector actors, and optimal output quality assured, through sound and efficient internal business and quality assurance, monitoring and evaluation and reporting processes;
-Profile of UNCDF and its development partners as leaders in development finance strengthened;
-Substantive partnerships strengthened with leading private sector foundations and development partners.
Compétences
Core Competencies:
-Demonstrates ethics and integrity;
-Demonstrates political acumen and calculated risk taking;
-Impeccable diplomatic skills and knowledge of protocol; essential
-Builds own competence, creating an environment of creativity and innovation;
-Creates and promotes open communication;
-Remains calm, in control and good humored even under pressure;
-Conducts fair and transparent decision making;
-Displays cultural and gender sensitivity and adaptability;
-Professional:
-Proven ability in public speaking, specifically to senior-level audiences including governments, companies and international organizations;
-Strong professional spokesperson, technically able to convey messages on behalf of UNCDF while respecting cultural contexts, political sensitivities and advancing national priorities
Qualifications et expériences requises
3) DURATION OF ASSIGNMENT, DUTY STATION AND EXPECTED PLACES OF TRAVEL
Maximum number of working days: up to 150 days per year
Expected Duration of Assignment: 12 months with the possibility of extension for two (2) more years, based on continued project needs, funding availability and consultant’s satisfactory performance assessment.
Duty station: UNCDF Office in Dakar, Senegal.
Travel across the sub-region and other relevant locations may be required and will be compensated on reimbursable basis and following the UNDP/UNCDF rules and regulations which states that consultants shall only be paid the most direct and most economical ticket, as will be quoted by the official UN travel agency. Any amount in excess of the said quotation, such as class and airline preference of the consultant, shall be borne by the consultant and the daily living allowance will be paid in amounts not exceeding the UN established Rate.
Please note that UNCDF cannot guarantee residence permits or visas for consultants. Consultants are responsible for securing their work documentation. In the case of national consultants, applicants that are not nationals of the duty station requested will have to prove their residence status.
Please note that consultants residing in the duty station will not be compensated for living expenses.
4) PROVISION OF MONITORING AND PROGRESS CONTROLS
-The Investment Officer will work under the direct supervision of the Regional Technical Advisor for Local Development Finance Practice based in Dakar, and the MIF Global Program Manager, based in New York, who would set the monthly deliverables at the beginning of every month and will hold a weekly communication either in person, or via e-mail and/or skype for coordination and guidance purposes, ensuring consultants’ output quality and targets.
-Payments will be made based on the percentage of contract price, in line with the payment schedule below, and upon confirmation of UNCDF’s Regional Technical Advisor that the individual has delivered on the contract obligations in a satisfactory manner based on the completed deliverables stated under the Section 2 above.
-Final payment shall require a signed performance evaluation of the consultant.
The payment schedule will be as follows:
Deliverables | Date | Nature of the deliverable | Payment % |
Deliverable 1 | 1st Month | Methodological note on activity implementation strategy and work plan | 10% |
Deliverable 2 | 2nd month | 1st scoping mission Report to assess requirements of the Technical Assistance to be provided by the IMIF TAF | 10% |
Deliverable 3 | 3rd Month | Quarterly report on the implementation of activities and revised work plan for the coming months | 20% |
Deliverable 4 | 6th Month | Quarterly report on the implementation of activities and revised work plan for the coming months | 20% |
Deliverable 5 | 9th Month | Quarterly report on the implementation of activities and revised work plan for the coming months | 20% |
Deliverable 6 | 12th Month | Final report on the implementation of the activities and work plan for year n+1 if activities are continued | 20% |
In addition to the general deliverables mentioned in the table above, specific deliverables will be requested by UNCDF, and their receipt and validation will condition the payments mentioned above. These deliverables include:
-Mission Reports,
-Strategic Notes,
-Due Diligence,
-Comprehensive and Consolidated Financial Models for the Reference -Scenario and Sensitivity Analyses,
-Project Business Plan,
-Support for Feasibility Studies
-Etc.
The following supporting documents will serve as conditions for disbursement:
1.submission of an invoice and Certificate of Payment (COP).
2.submission of all deliverables / workplan / progress report with relevant supporting documentation; and
3.review, approval and written acceptance of each deliverable by the UNCDF Regional Technical Advisor and/or his designate.
5) DEGREE OF EXPERTISE AND QUALIFICATIONS
Education:
*Bachelor’s Degree in Finance, Accounting, or related field with a focus on investments is required.
*Master’s Degree in Business Administration, Finance and or additional certifications e.g. CFA, CPA, Financial Analysis and Portfolio Management or related areas will be an advantage.
Experience:
A minimum of 5 years of relevant experience in:
-Developing an investment portfolio. This involves the initial screening of project application package, desk review and evaluation of financials and business plans, preparing evaluation notes for presentation to the Management Technical Team to determine a project’s suitability for investment, and detailed project concept notes to obtain clearance for full appraisal or fact-finding field trips;
-Developing and financing commercially viable investments through the entire project development life cycle and the financing stages for investments through single purpose investment vehicles (SPV)‘s;
-Creating/evaluating advanced and complex financial models on municipal finance;
-Carrying out independent research on the investment climate, project sponsors, management, and economic, financial, marketing, technical, environmental and legal aspects of the project.
-Relevant experience in developing countries would be an advantage.
-Expert knowledge of:
Private sector and PPP finance for commercially viable investments;
Development/Municipal finance is a plus.
Language Requirements:
Fluency in English and French is essential.
6) APPLICATION PROCESS
Interested individual consultants must submit the following documents/information to demonstrate their qualifications. (Note: the system does not allow multiple uploads of documents. Applicants must make sure to upload all documents in one PDF file).
All applications must contain the following information:
a) Duly accomplished Letter of Confirmation of Interest and Availability;
b) Personal CV or P11, indicating all past experience from similar projects, as well as the contact details (email and telephone number) of the Candidate and the names of at least three (3) professional references (e-mail addresses, telephone numbers);
c) Brief description of why the individual considers him/herself as the most suitable for the assignment, and a methodology, if applicable, on how they will approach and complete the assignment.
d) Signed Financial proposal for the assignment outlining: All-inclusive fee (including professional fees and other professional expenses, such as housing, insurance, taxes, etc.). Available at http://procurement-notices.undp.org/view_file.cfm?doc_id=29916).
If an Offeror is employed by an organization/company/institution, and he/she expects his/her employer to charge a management fee in the process of releasing him/her to UNCDF under Reimbursable Loan Agreement (RLA), the Offeror must indicate at this point, and ensure that all such costs are duly incorporated in the financial proposal submitted to UNCDF.
Failure to submit all the below mentioned documents may result in rejection of the application.
7) EVALUATION CRITERIA
Applications will be rated on both technical and financial submissions. The following selection method will be used: Highest rated proposal using the combined scoring method, which assigns the weight distribution between the technical and financial proposals. The overall combined score will be 100 points, where weight distribution shall be 70% technical (30% desk review + 40% interview) and 30% financial.
Step I: Screening:
Applications will be screened and only applicants meeting the following minimum criteria (listed under education and experience) will progress to the pool for shortlisting:
-Bachelor’s Degree in Finance, Accounting, or related field with a focus on investments is required.
-Minimum of 5 years of relevant experience in Finance/Investment.
-Fluency in both French and English
Step II: Shortlisting by Desk Review (100 points)
UNCDF will conduct a desk review process to shortlist and technically evaluate candidates as per the following criteria:
Education (20 points):
-Bachelor’s Degree in Finance, Accounting, or related field with a focus on investments is required. (15 points)
-Master’s Degree in Business Administration, Finance and or additional certifications e.g. CFA, CPA, Financial Analysis and Portfolio Management or related areas will be an advantage. (5 points)
Experience (70 points):
-A minimum of 5 years of relevant experience in:
-Developing an investment portfolio. This involves the initial screening of project application package, desk review and evaluation of financials and business plans, preparing evaluation notes for presentation to the Management Technical Team to determine a project’s suitability for investment, and detailed project concept notes to obtain clearance for full appraisal or fact-finding field trips and Developing and financing commercially viable investments through the entire project development life cycle and the financing stages for investments through single purpose investment vehicles (SPV)‘s (35 points);
-Creating/evaluating advanced and complex financial models on municipal finance (20 points);
-Carrying out independent research on the investment climate, project sponsors, management, and economic, financial, marketing, technical, environmental and legal aspects of the project (5 points);
-Relevant experience in developing countries (10 points).
Language (10 points):
Fluency in both French and English
As applicable, only the first top 3-4 ranked applicants achieving minimum 70 points shall be invited for an interview.
Step III: Technical interviews
A competency-based Interview shall be conducted with the top three or four candidates who score the highest in Step II (minimum of 70 points). Candidates will be tested on the same key work areas, in greater depth, with the same weighting, namely:
-Relevant experience
-Sector Technical Knowledge
-Programme Development and Management
-Understanding of the mission
Only candidates obtaining a minimum of 70% on the total of Step II: Desk Review and Step III: Interview will be considered as technically qualified and will be reviewed further for financial evaluation.
Step IV: Financial Evaluation:
The following formula will be used to evaluate financial proposal:
Lowest priced proposal/price of the proposal being evaluated x 30%.
Step V: Award Criteria:
The contact shall be awarded to the applicant whose offer have been evaluated and determined as:
-Responsive/compliant/acceptable vis-à-vis the requirements of the TOR and the project operating environment; and
-Having received the highest score out of a pre-determined set of weighted technical (70%) and financial (30%) criteria.
Both individual consultants and individual employed by a company or institution are welcome to apply.
Any individual employed by a company or institution who would like to submit an offer in response to a Procurement Notice for IC must do so in their individual capacity (providing a CV so that their qualifications may be judged accordingly).
Women candidates or women-owned businesses are strongly encouraged to apply.
UNCDF is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.
8) CONSULTANT PRESENCE REQUIRED ON DUTY STATION/UNDP PREMISES
- NONE - PARTIAL - INTERMITTENT X FULL-TIME
Le PNUD s’engage à recruter un personnel divers en termes de genre, de nationalité et de culture. Nous encourageons de même les personnes issues des minorités ethniques, des communautés autochtones ou handicapées à postuler. Toutes les candidatures seront traitées dans la plus stricte confidentialité.
Le PNUD ne tolère pas l’exploitation et / ou les atteintes sexuelles, ni aucune forme de harcèlement, y compris le harcèlement sexuel, et / ou toutes formes de discrimination. Tous/tes les candidats/tes selectectionnes /ées devront ainsi se soumettre à de rigoureuses vérifications relatives aux références fournies ainsi qu’à leurs antécédents.