Investment Specialist

Tiered Approach

In line with the commitment to safeguard capacity and support personnel already in the Organization, a majority of UNDP UNCDF/UNV vacancies are advertised using a tiered application process whereby:

• Tier 0: UNDP/UNCDF/UNV IP staff holding permanent (PA) and fixed-term (FTA) appointments, whose posts will be abolished, or contracts will be terminated or not renewed during 2026.
• Tier 1: Other UNDP/UNCDF/UNV staff holding permanent (PA) and fixed-term (FTA) appointments
• Tier 2: UNDP/UNCDF/UNV staff holding temporary appointments (TA), personnel on regular PSA contracts, and Expert and Specialist UN Volunteers
• Tier 3 or no tier indicated: All other contract types from UNDP/UNCDF/UNV and other agencies, and other external candidates

Please make note of the Tier(s) indicated in the vacancy title, if any, and ensure that you satisfy the eligibility to apply.

Background

General Assembly Resolution 2186 (XXI) decided to “bring into operations the United Nations Capital Development Fund as an organ of the General Assembly which shall function as an autonomous organization of the United Nations. The UN Capital Development Fund (UNCDF) assists developing countries, especially least developing countries, in the development of their economies by supplementing existing sources of capital assistance by means of grants, loans, and guarantees. UNCDFs vision is to help mobilize and catalyze an increase of capital flows for SDG impactful investments to Member States to address the most pressing development challenges facing vulnerable communities in these countries and thereby contribute to sustainable economic growth and equitable prosperity.

As a Flagship Catalytic Blended Financing platform of the UN, UNCDF utilizes its unique capability in the UN system to deploy grants, loans and guarantees to crowd-in finance for the scaling of development impact. UNCDF focuses on where the needs are greatest, a deliberate focus and capability rooted in UNCDF’s unique investment mandate to support the achievement of the 2030 Agenda for Sustainable Development and the realization of the Doha Programme of Action for the least developed countries, 2022–2031.

As per its Strategic Framework, UNCDF works to deploy its functions as a hybrid development organization and development finance institution. UNCDF responds to Member States requests for assistance by providing targeted technical and financial advisory services on investments for development outcomes, designing bespoke financial structuring solutions, undertaking financial derisking of investments, and enhancing investment readiness of SDG aligned projects in partnership with private sector, United Nations Organizations, International and Local Finance Institutions, Development Finance Institutions as well as Foundations and Philanthropy, among others. UNCDF works to develop local financial systems, new markets and mobilize and crowd in capital from public and private sources. UNCDF is driven by a partnership mindset which enables it to deploy its different capital capabilities in highly tailored and responsive ways in order to mobilize investments flows from other sources, in particular from the private sector.  By structuring transactions which are highly impactful, but also recognize the need for multiplying the impact of its own capital, UNCDF seeks to position itself as a preferred partner for different stakeholders.  UNCDF’s work is focused on three priority areas, including:

•                    SME Finance
•                    Sub-National Finance
•                    Digital Finance

UNCDF’s organizational set up includes an Investment and Implementation Division (IID), Investment and Finance Oversight Division (IFOD), Operations and Oversight Division (OOD) and a Directorate of the Executive Office. UNCDF staff and personnel are located in regional hubs based in Dakar (Senegal), Nairobi (Kenya) and Bangkok (Thailand) with sub-regional presence in a number of locations in the Caribbean and Pacific Regions. UNCDF is led by an Executive Secretary based out of New York, USA. Pursuant to General Assembly resolution 2321(XXII, para 1.a), the Administrator of the UNDP performs the function of the Managing Director of UNCDF. UNCDF is overseen by an Executive Board comprised of UN Member States.

The Investment Specialist sits within UNCDF’s Investment & Implementation Division (IID), reporting to the Region-Based Investment Specialist (RIS). IID’s mandate is to mobilize and deploy catalytic blended-finance instruments-guarantees, concessional loans, and grants to de-risk investments, strengthen local capital markets, and crowd in private capital toward climate-resilient, job-creating growth and financial inclusion across the East and South African (ESA) region.

Within this context, the Investment Specialist provides the analytical and coordination backbone that converts pipeline opportunities into bankable, impact-aligned transactions by conducting market and borrower analysis, building and stress-testing financial models, supporting preliminary risk/ESG screening, preparing investment notes and Pre-Assessment Memo (PAM) inputs, and is responsible for executing the full cycle of investment transaction activities from initial due diligence through to the final submission of the investment package for decision-making; the Investment Specialist also coordinates with Investment Specialists on partner engagement, supports internal approvals (Pre-Investment Committee (PIC) / Investment and Disbursement Impact Committee (IDIC)) and legal closing, and post-approval contributes to covenant monitoring, impact/results tracking, and portfolio performance reporting; collectively improving transaction quality and speed, enhancing risk management, and enabling IID to scale capital mobilization and measurable development outcomes across the region.

Duties and Responsibilities

The Investment Specialist will work under the direct supervision of the Region-Based Investment Specialist (RIS), with Matrix Reporting to the Project Manager. The position will be Kenya-based (Nairobi) and will require periodic in-country travel for stakeholder engagement, due diligence, and project monitoring.

Under the supervision of the Region-Based Investment Specialist, the incumbent will perform the below tasks:
1.    Management and development of a pipeline of investment initiatives and opportunities
•    Develop and manage a pipeline of investment initiatives aligned with UNCDF priorities, country programmes, and the United Nations Sustainable Development Cooperation Framework (UNSDCF).
•    Prepare concept notes, funding proposals, and project documents to advance initiatives through the investment cycle.
•    Identify and screen investment opportunities from public, private, and UN partner pipelines
•    Coordinate market scans, Expressions of Interest (EOIs), Request for Proposals (RFPs), and challenge funds to source high-quality investment opportunities
2.    Investment transaction underwriting and due diligence 
•    Lead the appraisal and execution of investment transactions, including guarantees, concessional loans, and grants, from origination to investment committee approval.
•    Conduct financial analysis, due diligence, risk assessments, and ESG, KYC/AML/CFT reviews in accordance with UNCDF policies.
•    Prepare investment assessment reports, memoranda, and committee documentation to support investment decisions.
•    Coordinate transaction structuring, legal documentation, and fulfilment of conditions precedent through to disbursement. 
3.    Structuring and matchmaking with local and commercial capital 
•    Build and maintain relationships with commercial banks, Development Finance Institutions (DFIs), impact investors, and other financing partners.
•    Support the structuring of blended finance and risk-sharing solutions to mobilize private capital.
•    Facilitate investor engagement, co-financing opportunities, and strategic partnerships for investment initiatives. 
4.    Advocacy, communications, and knowledge management 
•    Prepare presentations, briefing materials, and knowledge products highlighting UNCDF investment initiatives and results.
•    Document and disseminate lessons learned and best practices from investment transactions and programmes. 
•    Support stakeholder engagement, investment forums, partner events, and strategic communications activities. 
5.    Policy support and resource mobilization
•    Contribute to policy briefs, analytical papers, and research that strengthen blended finance and financial inclusion.
•    Support resource mobilization through the preparation and review of donor proposals and investment concept notes.
•    Provide technical inputs to programme design and ensure alignment with UNCDF strategies, safeguards, and results frameworks.
6.    Ensure provision of top quality advisory services and facilitation of knowledge building and management.
•    Identify policy-driven issues; and identify and synthesize best practices and lessons learned directly linked to programme country policy goals.  •    Establish/strengthen national and international advocacy networks. Implement relevant, high -impact advocacy with key partners.    •    Coordinate and ensure integrated support in development of policies and institutions to address country problems and needs in collaboration with the Government and other strategic partners.  •    Support policy advisory services that contribute to inclusive societal digital transformation and take digital technology risks and opportunities or futures signals into account.  •    Provide sound contributions to knowledge networks, communities of practice, and digital knowledge platforms.  •    Organize and deliver training for the operations/ projects staff on programme related matters. 

The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization.  

Competencies

Core Competencies:

Achieve Results: LEVEL 3: Set and align challenging, achievable objectives for multiple projects, have lasting impact  
Think Innovatively: LEVEL 3: Proactively mitigate potential risks, develop new ideas to solve complex problems  
Learn Continuously: LEVEL 3: Create and act on opportunities to expand horizons, diversify experiences 
Adapt with Agility: LEVEL 3: Proactively initiate and champion change, manage multiple competing demands  
Act with Determination: LEVEL 3: Think beyond immediate task/barriers and take action to achieve greater results 
Engage and Partner: LEVEL 3: Political savvy, navigate complex landscape, champion inter-agency collaboration 
Enable Diversity and Inclusion: LEVEL 3: Appreciate benefits of diverse workforce and champion inclusivity 

Cross-Functional & Technical competencies:

Thematic Area

Name

Definition

Communications

Advocacy strategy and implementation

Ability to create and implement advocacy strategies which lead to impactful change

Partnership management

Private sector engagement 

Ability to identify, conduct outreach, and manage relationships with the private sector.  

Finance

Financial reporting and analysis

Understands changes in regulatory, legal and ethical frameworks and standards for financial reporting in the public sector. Ability to extract, evaluate financial data, derive relevant findings and present them in a meaningful and coherent manner to facilitate effective decision making and performance monitoring. Understands the benefits of integrated reporting, including non-financial resources such as human, social and intellectual capital, and environmental and governance performance

Business Direction and Strategy

Systems Thinking

Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system

Business Management

Portfolio Management

Ability to select, prioritize and control the organization’s programmes and projects, in line with its strategic objectives and capacity; ability to balance the implementation of change initiatives and the maintenance of business-as-usual, while optimizing return on investment. Knowledge and understanding of key 

principles of project, programme, and portfolio 

management.

Finance

Development Finance Expertise

Ability to develop and work with innovative financing mechanisms and instruments, e.g. social/development impact bonds, guarantees, climate finance, etc.

Finance

Due Diligence Management

Ability to conduct a comprehensive appraisal of an organization or opportunity to be undertaken by a prospective investor or partner, especially to establish its assets and liabilities, as well as evaluate the potential opportunity and its related risks; knowledge of respective methodology and tools.

Required Skills and Experience

Education:

• Advanced university degree (master’s degree or equivalent) in Economics, Finance, Business Administration, or relevant related field is required, OR
• A first-level university degree (bachelor’s degree) in the areas mentioned above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree. 

Experience:

• A minimum of 5 years (with a master’s degree) or 7 years (with a bachelors degree) in either the financial sector or the private sector or a mix, with investment and /or business management experience is required.

Required skills:

• Demonstrated experience structuring and executing financial transactions, including financial modelling and credit risk assessment. 
• Proven experience managing an investment portfolio, including monitoring performance, milestone tracking, mitigating risks, overseeing compliance, and restructuring.
• Experience in writing investment and transaction memos that are presented to the investment decisioning committee. 
• Experience in stakeholder management and negotiation, particularly with financial institutions, fund managers, fintechs, and other stakeholders in the Micro, Small, and Medium Enterprises (MSME) financing space. 

Desired skills:

• Direct experience working with DFIs, impact investors, or private sector-facing donor-funded programmes.   
• Proven record of experience in managing a multi-million-dollar portfolio with demonstrated delivery against disbursement and impact targets.  
• Experience and strong understanding of the MSME financing ecosystem and local communities in Kenya or across the East and Southern Africa region.  
• Experience in project preparation and/or in development of investment opportunities, especially for investment projects with social and environmental objectives in developing countries.  
• Experience working with donor funded programmes.

Lanague(s):

• Fluency in English and Swahili is required.

Professional Certificates:

• Professional certification in finance or credit is an asset.

Equal opportunity

As an equal opportunity employer, UNDP values diversity as an expression of the multiplicity of nations and cultures where we operate and, as such, we encourage qualified applicants from all backgrounds to apply for roles in the organization. Our employment decisions are based on merit and suitability for the role, without discrimination. 

UNDP is also committed to creating an inclusive workplace where all personnel are empowered to contribute to our mission, are valued, can thrive, and benefit from career opportunities that are open to all.

Sexual harassment, exploitation, and abuse of authority

UNDP does not tolerate harassment, sexual harassment, exploitation, discrimination and abuse of authority. All selected candidates, therefore, undergo relevant checks and are expected to adhere to the respective standards and principles. 

Right to select multiple candidates

UNDP reserves the right to select one or more candidates from this vacancy announcement.  We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements.

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