Innovative Finance Lead, GPE

Job #: req23541

Organization: World Bank

Sector: Financial Management

Grade: GG

Term Duration: 3 years 0 months

Recruitment Type: Local Recruitment

Location: Paris,France

Required Language(s): English

Preferred Language(s): French, Arabic

Closing Date: 8/11/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

Are you a very passionate advocate for education? Do you want to make a difference in the lives of children? The Global Partnership for Education Secretariat (GPE) would like to hear from you.

Who We Are

GPE is a shared commitment to end the world’s learning crisis. It is the only global partnership and fund dedicated entirely to helping children in lower-income countries get a quality education, so they can unlock their potential and contribute to building a better world. We bring together governments, teachers, civil society, donors, United Nations agencies, development banks, businesses and private foundations to transform education systems so that every girl and boy can have hope, opportunity and agency.

What We Do

GPE helps low- and lower-middle-income countries to build stronger education systems so that all children can get the education they need to thrive. We currently support nearly 90 countries where the needs are greatest and focus on reaching the children who are the most vulnerable, including girls, children with disabilities and those affected by extreme poverty or conflict. Our unique approach works. Since 2002, 160 million more children in GPE partner countries have set foot in classrooms for the first time, more than half of them girls. GPE is also the largest provider of education grants in the global COVID-19 response, providing partner countries with vital resources to ensure that learning can safely continue.

How We Work

Now, GPE is working to help governments transform their education systems to get the most vulnerable children in school, improve teaching and learning, and build equitable, inclusive and resilient education systems fit for the 21st century. Between 2020-2025, GPE will support transformative change in up to 90 countries and territories, which are home to 1 billion children. Transforming education is about creating lasting changes and achieving impact at scale. GPE sets out to deliver this transformative change by convening partners, mobilizing funds and catalyzing reforms to help partner countries accelerate access, learning outcomes and gender equality.

Raise Your Hand

In July 2021, the Global Education Summit put GPE firmly on the path to be fully-funded by 2025, by raising a record US $4 billion from donors for GPE’s Raise Your Hand campaign. At the Summit, Heads of State and Government from partner countries made historic commitments to education financing and GPE also mobilized an unprecedented number of pledges from businesses, private foundations and development banks.

A fully funded GPE would support transformed education systems in up to 90 countries and territories, enable up to 175 million children to learn and help get 88 million more girls and boys in school by 2025. In the longer term, this investment could add $164 billion to economies in GPE partner countries, lift 18 million people out of poverty, and protect 2 million girls from early marriage.

Governance And Organizational Arrangements

The GPE Board of Directors includes ministerial-level board members and alternates representing 20 constituencies that reflect the Partnership’s breadth. The Board Chair is HE President Jakaya Kikwete and the Board Vice Chair is Dr Susan Liautaud. The Board of Directors, with its three standing committees, provides policy and strategic oversight and approves or delegates funding decisions.

The GPE Secretariat, with 160 employees and hosted by the World Bank, is responsible for translating the policies and strategies set by the Board into practical support for partner countries, coordinating with diverse stakeholders and galvanizing global support for SDG4. The Secretariat’s headquarters are in the World Bank’s offices in Washington, D.C. and the European office is in Paris with a satellite office in Brussels.

ABOUT THE TEAM

The Finance & Grant Operations (FGO) team focuses on fiduciary matters, grant process and administration, quality assurance, risk management, innovative finance, and corporate finance.

The Innovative Finance sub team develops & supports innovative mechanisms/approaches to crowd in financing & maximize impact of GPE funds to respond to country needs.

ABOUT THE JOB

This position will be based in Paris, France.

Description

GPE seeks an experienced professional to lead its Innovative Finance Team. The selected candidate reports to the Chief Financial Officer and drives the implementation, and continued evolution of GPE’s Innovative Finance mechanisms. These mechanisms currently focus on approaches to maximize the use of GPE grant funds to incentivize additional finance for education in partner countries either through the GPE Fund or alongside it.

Duties And Accountabilities

The candidate will be expected to lead and supervise a small team of professional staff working closely with colleagues in other teams throughout the Secretariat and with external partners to drive the implementation of GPE’s existing innovative work. This work is currently focused around the GPE Multiplier which to date has allocated approx. $500m in grants crowding in US$2 billion in new and additional co-financing from a wide variety of sources and through different approaches. The candidate will also be responsible for identifying and developing new innovative finance approaches to support GPE strategy, and to adapt to changes, challenges, and opportunities in global development.

More specifically, the candidate will be required to:

•  Ensure guidelines, tools, processes, and communication products around the Multiplier, including the Debt2Ed facility, GPE Match, and Smart Ed Initiative are fit for purpose to support stakeholder needs.
•  Proactively engage with internal colleagues and with external stakeholders to cultivate and advance multiplier opportunities providing high quality and timely support to navigate the process.
•  Support, negotiate, and lead high-level engagement as needed with existing and new financing partners (e.g., IFFEd, and Climate actors) building and maintaining strong institutional relationships in consultation with relevant internal teams
•  Act as lead and focal point within the Secretariat on innovative finance responding to information requests, and developing high quality written products (briefing notes, technical papers, reports, blogs, Board and Committee papers and presentations), and representing GPE as needed externally on country visits, and various meetings and events.
•  Identify, assess, and propose to GPE management, innovative finance approaches and opportunities that respond to changes in global development priorities and that are in line with GPE strategy. Such approaches may include how best to leverage GPE grant funds, along with resource mobilization opportunities in innovative finance. Lead the development and implementation of any selected approaches.
•  Any other duties as determined by the CFO to support GPE priorities.

Selection Criteria

Education

Master’s degree in a relevant discipline such as Business Administration, Economics, Finance Development Economics, Accounting or other relevant field. Or a Bachelor’s degree in any of these disciplines with extensive additional experience, or in public policy management, law, or international development combined with a relevant professional designation (e.g. CFA)

Experience

8 years of experience with Master Degree or 10 years of experience with Bachelor’s degree. Relevant experience can include working in applied financial modelling or structuring, capital markets, research and analysis, project management, and innovative financing mechanisms such as loan buy downs, debt swaps, guarantees, impact bonds/outcomes funding arrangements. Language

Full proficiency in English, in reading, writing and speaking, is required for this role. Proficiency in French and/or Arabic is desired, but not required

Competencies

Accountability & Results Focus – Engages in productive consultation without losing sight of responsibility for own, and team, decisions, deliverables and deadlines. Doesn’t let the pursuit of perfection prevent forward progress, in self or on teams. Seeks clarity from colleagues or leadership team when needed; Helps junior staff get needed clarity to move work forward; works within and across teams to remove obstacles and resolve issues. Takes ownership of own mistakes, failures or oversights, and seeks to correct them; Shares credit for team accomplishments and accepts joint responsibility for team mistakes. Manages differences of opinion to productive resolution so as not to impede progress. Ensures group efforts produce clear actions and decisions and tasks conclude.

Adaptability – Models flexibility – responds to changing circumstances by innovating and altering behavior to better fit different situations. Learns new skills, performs work in different ways and coaches team members to do the same. Exerts a calming influence on colleagues and staff in stressful situations. Professionally deals with personal discomfort in a changing work environment and helps others do so.

Collaboration & Teamwork – Views the whole of the Secretariat as greater than sum of the parts and works collaboratively with colleagues with shared goals in mind. Acts as a teammate; steps in to supports teammates and colleagues across teams as needed, regardless of organizational boundaries. Recognizes, values and reinforces the role of each team in delivering on GPE’s mission. Approaches challenges and obstacles as shared challenges to be overcome and leads groups to this outcome. Fosters productive group dynamics and actively seeks and considers diverse ideas and approaches. Supports and acts in accordance with final group decision, even when decisions don’t reflect own position.

Communication & Interpersonal Skills – Has extensive experience & success working in multicultural environments. Speaks and writes clearly and effectively, adapting language, tone, style and message to diverse, multicultural audiences, internally and externally. Skilled at communicating complex information in succinct and digestible ways; coaches others to develop this skill. Shares information and keeps people informed; Operates with transparency, in a way that builds trust in a culturally diverse environment; Within and across teams, addresses behaviors that undermine transparency and trust. Maintains productive working relationships with colleagues and holds team members responsible for doing the same. Engages in active listening and two-way conversation. Asks questions for clarification and responds to others appropriately. Learns from others’ ideas and expertise.

Planning & Organizing – Works well independently and in teams. Develops clear goals aligned to agreed strategies and direction. Plans and prioritizes work effectively, for self and assigned teams Works under pressure and against tight timelines, and still delivers high-quality work. Manages own and team time efficiently, and delegates appropriately. Foresees risks and identifies mitigation strategies and contingencies.

BENEFITS FOR THIS POSITION

Term appointments include, but are not limited to, medical benefits, including dental and vision, Staff Retirement Plan, financial assistance program, life & disability insurance, comprehensive leave policy (minimum 26 days/annum) and parental leave policy (50-100 days).

DIVERSITY AND INCLUSION

Poverty has no borders. Neither does excellence. This is why we continually search for qualified individuals with a diverse set of backgrounds from around the globe. We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, creed, race, color, ethnicity, sexual orientation or disability.

GPE has a zero-tolerance policy against all forms of sexual exploitation, abuse and harassment in line with its PSEAH policy.

Individuals with disabilities may be provided reasonable accommodations to perform essential functions of the role and support in receiving other workplace accommodations. Please contact the DAF-Disability Accommodation Fund at disabilityfund@worldbank.org for further information and support.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.