Investment Specialist, NPSA-11, Nairobi, Kenya, UNCDF [Open to Tier 1 & 2 applicants]

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 region (ESA). 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, helps to facilitate 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 incumbent will be supervised by the Region-Based Investment Specialist (RIS) for East and Southern Africa within UNCDF’s Investment & Implementation Division (IID). The position will be Kenya-based (Nairobi) and will require periodic 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. Resource mobilization and Design of innovative development finance initiatives
• Provide technical advisory in the conception and design of new development finance initiatives, using and leveraging financial instruments such as loans, guarantees, and investment grants, to achieve development outcomes
• Lead the preparation of concept notes, donor proposals, and internal project documents for such initiatives/projects. Produce investor/donor briefing materials that describe risks and expected financial and impact returns of the initiatives.
• Support the implementation of high-level fundraising strategy for the initiatives (i.e identifying public and private donors and other potential funders, preparing pitch materials and coordinating outreach), under the supervision of the Region-Based Investment Specialist and in coordination with other UNCDF colleagues, both at HQ and regional level. Engage and negotiate with funders as needed.
2. Oversight on the implementation of innovative development finance initiatives
• Monitor project performance against approved log frames and financial plans. Review implementation reports, delivery plans and impact metrics. Drive remedial action where material deviations occur.
• Where project staff are matrixed or report to the Investment Specialist, provide line management (work-planning, appraisal, capacity development).
3. Advisory and oversight on Capital Deployment and investment transactions
• Lead and provide technical oversight for the full investment lifecycle of bespoke investment transactions arising from development finance initiatives, including due diligence, transaction structuring, investment appraisal, negotiations, financial close and portfolio oversight, ensuring strategic fit, appropriate risk allocation and achievement of development objectives.
• Review and assess high-level transaction structures, terms and risk-sharing approaches prepared by Investment Specialists. Ensure alignment with UNCDF fiduciary, Environmental, Social and Governance (ESG) and donor constraints.
• Coordinate mandatory technical inputs from Legal, Risk & Compliance, Finance and Impact Measurement. Where necessary, support the presentation of QA findings and recommendations to governance and approval bodies, such as investment committees, for decision.
4. Stakeholder Management and Partnership stewardship
• Prepare UNCDF for participation in dialogues with donors, development financiers, government counterparts and strategic investors; steward key partnerships and secure high-level buy-in for initiatives/projects objectives.
• Convene multi-stakeholder fora as needed to sustain programme momentum and unlock co-financing opportunities.
5. Knowledge Management, Learning & Capacity Building
• Lead periodic learning reviews and capture lessons from design and implementation phases; produce concise knowledge products and standardized toolkits for replication.
• Design and deliver targeted capacity strengthening for country staff (transaction architecture, governance, impact measurement and donor reporting).
6. Cross Cutting Responsibilities
• Ensure incorporation of ESG, gender and safeguarding considerations into initiative design, monitoring and oversight activities.
• Maintain compliance with UNCDF corporate policies, donor reporting timelines and fiduciary controls; escalate material governance or reputational issues to Region Based Investment Specialist.
• Foster strong coordination with HQ (Legal, Risk, Portfolio Management, Impact Measurement, etc.) to secure necessary clearances and technical inputs.
The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization.
Supervisory/Managerial Responsibilities: The Investment Specialist will hold supervisory responsibilities for one non-staff project personnel (NPSA-10 Investment Specialist), as well as provide guidance to other non-staff project personnel, investment specialists, multidisciplinary teams and consultants engaged in project implementation, financial structuring, due diligence, transaction execution and portfolio management.

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

People Management:

UNDP People Management Competencies can be found in the dedicated site .

Cross-Functional & Technical competencies:

Thematic Area
Name
Definition

Business Direction and Strategy
Strategic Thinking

- Develop effective strategies and prioritized plans in line with UNDP’s mission and objectives, based on the systematic analysis of challenges, opportunities and potential risks; link the general vision to reality on the ground to create tangible solutions; learn from a variety of sources to anticipate and effectively respond to both current and future trends; demonstrate foresight.

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 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 with regular activities for optimal return on investment. Knowledge and understanding of key principles of project, programme, and portfolio management.

Partnership Management
Relationship Management

- Ability to engage with a wide range of public and private partners, build, sustain and/or strengthen working relations, trust and mutual understanding.

Business Direction and Strategy
Futures and foresight

- Ability to look at information from the past and present, identify patterns and trends and use them to inform decision making with a long-term view. Being sensitive and able to scan horizons and pick up weak signals of change, explore their potential implications and assess their impact and urgency. Using creativity and imagination to communicate insights in compelling and engaging ways to challenge current mental models; ability to develop scenarios, speculative designs to present future visions or by making it experimental.

- Being able to facilitate debate and discussions about possible futures; help people to feel comfortable with the discomfort of uncertainty.

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

Required Skills and Experience

Education:

- Advanced university degree (master’s degree or equivalent) in Finance and Investments, Economics, Business Administration, or relevant related field is required, OR

- A first-level university degree (bachelor’s degree) in Actuarial Science, Investments or finance, 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 7 years (with master’s degree) or 9 years (with bachelor’s degree) of progressively responsible relevant experience at the national or international level in investment analysis, private equity, development finance, or impact investment is required.

- Experience working in venture capital and/or banking within an international financial environment, preferably in a development finance institution, impact investor or similar.

- Experience in private credit, debt and/or equity for investments with a social mission in emerging/frontier markets

- Experience with advanced financial modelling and/or preparing project finance transactions

- Experience in the project management cycle and managing results

Desired skills:

- Demonstrated experience and knowledge of UNCDF programming and project management policies.

- At least 2 years of experience in working for/in the UN System preferably in Kenya.

- Previous experience working in emerging markets/Least Developed Countries (LDCs) context.

- Experience using IT systems, including working regularly with business intelligence visualization tools.

- Experience in Project Preparation and/or in development of investment opportunities, especially projects in the UN.

Language(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.

Use of AI by candidates

Applicants are invited to read UNDP’s guidance for candidates on using AI responsibly in UNDP recruitment and selection

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