Consultant Finance
Consultant Finance
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
Job Description
DEADLINE FOR APPLICATIONS
12 April 202523:59GMT01:00 Central European Time (Rome)WFP celebrates and embraces diversity. It is committed to the principle of equal employment opportunity for all its employees and encourages qualified candidates to apply irrespective of race colour national origin ethnic or social background genetic information gender gender identity and/or expression sexual orientation religion or belief HIV status or disability.
ABOUT WFP
The World Food Programme is the worlds largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace stability and prosperity for people recovering from conflict disasters and the impact of climate change.
At WFP people are at the heart of everything we do and the vision of the future WFP workforce is one of diverse committed skilled and high performing teams selected on merit operating in a healthy and inclusive work environment living WFPs values (Integrity Collaboration Commitment Humanity and Inclusion) and working with partners to save and change the lives of those WFP serves.
To learn more about WFP visit our website: follow us on social media to keep up with our latest news: YouTube LinkedIn Instagram Facebook Twitter TikTok.
WHY JOIN WFP
WFP is a 2020 Nobel Peace Prize Laureate.
WFP offers a highly inclusive diverse and multicultural working environment.
WFP invests in the personal & professional development of its employees through a range of training accreditation coaching mentorship and other programs as well as through internal mobility opportunities.
A career path in WFP provides an exciting opportunity to work across the various country regional and global offices around the world and with passionate colleagues who work tirelessly to ensure that effective humanitarian assistance reaches millions of people across the globe.
We offer an attractive compensation package (please refer to the Terms and Conditions section of this vacancy announcement).
JOB TITLE: Consultant Finance Senior Advisor on Debt Swaps
TYPE OF CONTRACT: WAE Consultancy
UNIT/DIVISION: CFOFI
DUTY STATION (City Country): Remote from permanent place of residence
DURATION: From ASAP for 4 months 3 days a week
BACKGROUND AND PURPOSE OF THE ASSIGNMENT:
The United Nations World Food Programme is the worlds largest humanitarian agency fighting hunger worldwide. Every day WFP works worldwide to ensure that no child goes to bed hungry and that the poorest and most vulnerable particularly women and children can access the nutritious food they need.
The work of WFP is funded by voluntary contributions from governments national development institutions multilateral financial institutions private sector foundations and individuals. There is currently a large gap between global food security needs and resources available particularly in the wake
of the Covid19 pandemic. To reduce this funding gap and advance its work on Saving Lives and Changing Lives WFP is looking at innovative financing mechanisms to increase and diversify its funding base among them debt swaps.
At the Third International Conference on Financing for Development held in 2015 UN Agencies including WFP national governments development finance institutions private sector representatives and other actors adopted the Addis Ababa Action Agenda on global development financing. At its core
the Addis Agenda aims to scale and mainstream use of innovative financing in development broadening the fiscal space of governments and international development institutions as they work to meet global commitments on sustainable development. One of the key commitments on the Action Agenda is on Debt and Debt Sustainability. In particular the Agenda recognized the need to assist developing countries in attaining longterm debt sustainability through coordinated policies aimed at fostering debt financing debt relief debt restructuring and sound debt management as appropriate.
The Addis Agenda further recognised that severe natural disasters and social or economic shocks can undermine a countrys debt sustainability and note that public creditors have taken steps to ease debt repayment obligations through debt rescheduling and debt cancellation following an earthquake a
tsunami and in the context of the Ebola crisis in West Africa. The Action Agenda encourage consideration of further debt relief steps where appropriate and/or other measures for countries affected in this regard as feasible. The Action Agenda also encourage the study of new financial instruments for developing countries particularly least developed countries landlocked developing countries and small island developing States experiencing debt distress noting experiences of debttohealth and debttonature swaps.
As most countries in debt distress or facing debt sustainability are net food importers debt repayment obligations have direct and indirect impact on food security. Directly through reduced foreign exchange to meet food import demands and indirectly through sustained high food inflation due to loss of value of
domestic currency against major import currencies. As a signatory to the Addis Agenda and as a member of the United Nations WFP is committed to working with countries in debt distress and their respective creditors to find solutions that help create fiscal space for food security needs. In particular WFP seeks
to support countries seeking debt relief in cases where debt sustainability challenges show potential direct impact on a debtor countrys ability to maintain required level of fiscal spending on food security and social protection programmes.
In context of the Addis Agenda WFP sees addressing the looming debt crisis through increased use of innovative mechanisms such as debttofood swaps as an approach with potential multidimensional wins.
Through debttofood swaps developing nations will be able to increase or sustain spending on food security and social protection. At the same time creditor/debtor governments have opportunity to increase or sustain their overseas development assistance (ODA) spend without making additional/new
outlays. Nonetheless these potential wins are not without complexity. To this end WFP seeks an experienced professional with extensive knowledge of debt dynamics at international level to contribute to the study and application of debt relief instruments in particular debttofood swaps in the context of
WFPs mandate.
ROLE OF THE CONSULTANT:
The Senior Advisor on Debt Swaps will work alongside WFPs Task Team on Debt Swaps reporting to the Director of Finance one of the cochairs of WFPs Innovative Finance Steering Committee. The role builds upon WFPs experience as programme implementor in several bilateral debtfordevelopment
swaps agreed over the past 15 years and lessons learned from negotiating those agreements. Support to the debt swaps Task Team will include advice on strategic approaches/WFP positioning process structuring advocacy and negotiation.
ACCOUNTABILITIES/RESPONSIBILITIES:
1. Support the Task Team and functions named above in defining approach and process for engaging with specific creditors/donors and debtor governments in line with their interests.
2. Contribute to defining of WFPs strategic positioning in debt relief dialogues with both creditor and debtor governments considering political and other risks that may be involved in debt relief discussions.
3. Support WFPs efforts in engaging early with creditor governments (and private sector) to assess their willingness to entertain debt swaps and their respective conditions.
4. Support in the development review and/or adaptation of WFPs tools and documents meant to guide harmonise and qualityassure all activities relating to debt swaps including documents supporting advocacy efforts.
5. Working alongside the Task Team support Country Offices in discussions and negotiations with ministries of finance and planning local embassies and/or creditor/donor Capitals on potential debt swaps.
6. Working alongside the Task Team provide technical advice to WFP Country Offices Liaison Offices and Regional Bureaux in the operationalisation of guidance and standards relating to WFPs participation in debt relief / debt swap discussions.
7. Advise on potential new debt swap instruments and support structuring of such instruments in collaboration with WFPs Treasury team and external financial institutions/advisers as may be required.
8. Build functional networks and advise on potential collaboration opportunities on debt swaps between WFP and other UN agencies e.g. with UNDP who are likely to have existing working relationships with ministries of finance and planning on fiscal space enhancements.
9. In line with the Addis Agenda and where feasible support WFPs contributions to global dialogues on debt sustainability including potential advocacy for the use of debttofood swaps in cases where debt and food crises coexist.
DELIVERABLES AT THE END OF THE CONTRACT:
Project based as determined by Debt Swaps Task Team.
QUALIFICATIONS & EXPERIENCE REQUIRED:
Education: Advanced university degree in economics finance law or a related field. A first University Degree with two additional years of relevant work experience from the minimum experience requirement stated below. Experience: At least 15 years of progressively responsible professional experience in international debt restructuring resource mobilization through debt swaps or a related activity is required. Experience working directly with creditor and debtor governments and/or institutional investors with history of participating in debt swaps is required.
Knowledge & Skills:
Advanced exposure and understanding of mandates and activities of UN entities funds and programmes as well as UNs role in debt relief dialogues including history of its specialised agencies in negotiating and working with funding from debt swaps.
Demonstrated ability to structure new financial instruments that can serve as
vehicles for administering and/or achieving debt relief goals on both creditor and debtors ends e.g. debttohealth or debttonature swaps. Knowledge of policy making processes within governments and proven ability to make highlevel recommendations and influence governmentlevel/institutional decisions.
Understanding of major creditor/donor countries national policies on international development geography preferences modes of assistance programme priorities and their historical use of debt swaps in overseas development assistance (ODA) and/or debt relief efforts.
Languages: Level C fluency in English. Knowledge French Spanish and/or Arabic is desirable
WFP LEADERSHIP FRAMEWORK
WFP Leadership Framework guides to the common standards of behavior that guide HOW we work together to accomplish our mission.
Click here to access WFP Leadership Framework
REASONABLE ACCOMMODATION
WFP is committed to supporting individuals with disabilities by providing reasonable accommodations throughout the recruitment process. If you require a reasonable accommodation please contact:
NO FEE DISCLAIMER
The United Nations does not charge any application processing training interviewing testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee please disregard it. Furthermore please note that emblems logos names and addresses are easily copied and reproduced. Therefore you are advised to apply particular care when submitting personal information on the web.
REMINDERS BEFORE YOU SUBMIT YOUR APPLICATION
We strongly recommend that your profile is accurate complete and includes your employment records academic qualifications language skills and UN Grade (if applicable).
Once your profile is completed please apply and submit your application.
Please make sure you upload your professional CV in the English language
Kindly note the only documents you will need to submit at this time are your CV and Cover Letter
Additional documents such as passport recommendation letters academic certificates etc. may potentially be requested at a future time
Please contact us at in case you face any challenges with submitting your application
Only shortlisted candidates will be notified
All employment decisions are made on the basis of organizational needs job requirements merit and individual qualifications. WFP is committed to providing an inclusive work environment free of sexual exploitation and abuse all forms of discrimination any kind of harassment sexual harassment and abuse of authority. Therefore all selected candidates will undergo rigorous reference and background checks.
No appointment under any kind of contract will be offered to members of the UN Advisory Committee on Administrative and Budgetary Questions (ACABQ) International Civil Service Commission (ICSC) FAO Finance Committee WFP External Auditor WFP Audit Committee Joint Inspection Unit (JIU) and other similar bodies within the United Nations system with oversight responsibilities over WFP both during their service and within three years of ceasing that service.
Required Experience:
Contract
Employment Type
Full-Time
