UNEP Finance Initiative (UNEP FI) – Head of Risk

Result of Service

Through these services, the Head of Risk should be able to contribute to delivering the following. In summary: • Engagement of the Risk teams into UNEP FI Risk programming with a view to engaging the CROs. • Ensuring the Risk programme contributes to implementing the PRB, PSI, and climate commitments, enhancing work plans and materials to strengthen the Risk Centre’s value proposition to UNEP FI members. • Support UNEP FI’s strategy and offering on risk-related topics relevant to banking, insurance, sustainability themes and financial regulators and supervisors. • Facilitate the Risk Team’s role as a centre of excellence across UNEP FI’s workstreams. • Assess the current and projected needs of financial institutions concerning environmental and social risks and advancing forward-looking integrated risk management for future resilience. • Clarify the business case for enhancing integration of sustainability issues into risk management processes of banks. • Risk work programme development and delivery. Develop a robust work programme to convene key internal and external stakeholders to develop cutting-edge, science-based content to strengthen sustainability-related risk solutions and prudential risk management in the financial sector. • Develop resources to address the needs of banks to advance sustainability risk management. • Conduct a technical review of materials and outputs produced by the Risk team to ensure high- quality deliverables and a coherent approach to risk-related elements of banks and insurers’ sustainability journeys. Ensure relevance for the financial sector on upcoming priorities in the field of environmental and social risk and consider how those topics might be integrated into current and future Risk programme sessions or working groups. • Establish risk-related partnerships (e.g. service providers/modelers/academic institutions that would benefit UNEP FI members on advancing science-based approaches to risk analysis and management to strengthen resilience. • Develop long-term resourcing plan for the Risk programme, within UNEP FI’s membership model. • Promote UNEP FI Risk outputs and offerings online and at in-person events. • Provide input into the communications strategy of UNEP FI to communicate the Risk programme offerings to financial institutions’ risk teams in the context of PRB, PSI and climate commitments. Contribute to UNEP FI-wide work planning on risk. • Support the industry, policy & regulation, thematic teams and regional teams on proposal development and delivery to advance sustainability risk management in the financial sector.

Work Location

Working remotely / Home-Based

Expected duration

6 months

Duties and Responsibilities

The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system and serves as an authoritative advocate for the global environment. The overall objective of the UNEP’s Industry and Economy Division is to encourage decision makers in government, local authorities and industry to develop and adopt policies, strategies and practices and technologies that promote sustainable patterns of consumption and production, make efficient use of natural resources, ensure safe management of chemicals and contribute to making trade and environment policies mutually supportive. It promotes the development, use and transfer of policies, technologies, economic instruments, managerial practices and other tools that assist in environmentally sound decision making and the building of corresponding activities. The United Nations Environment Programme Finance Initiative (UNEP FI) is the strategic partnership between the United Nations and over 500 banks, insurers and investors. For over 34 years UNEP FI has been shaping and driving the international sustainable finance agenda, setting global standards and growing a global network of leading financial institutions. Through its work-streams and regional activities, peer learning, methodology development, training and research, UNEP FI promotes sustainable finance and helps the financial industry align with and contribute to the Paris Agreement and Sustainable Development Goals. UNEP FI helps align private finance with sustainable development by engaging financial institutions committed to implementing leading industry sustainability frameworks – the Principles for Responsible Banking (PRB), Principles for Sustainable Insurance (PSI), Net-Zero Alliances for banks and asset owners (together with the Principles for Responsible Investment), and a multistakeholder Forum for Insurance Transition to Net Zero (FIT). To meet the growing momentum on environmental risk, UNEP is scaling up programming on climate risks, nature risks, and other emerging sustainability risks such as social and pollution. This work is undertaken under a Risk Centre established in 2024 to provide UNEP FI members with state-of-the-art knowledge and convening space for peers and leading partner organisations to ensure they can act with the best available, science-based information and apply best practice in risk management (alongside impact management) as part of implementing the Principles for Responsible Banking and Principles for Sustainable Insurance. The Risk programme also supports knowledge sharing and capacity building to help policymakers and regulators advance technical approaches to risk management on sustainability issues for financial stability. To that effect, UNEP FI requires a consultant to provide senior risk solutions expertise to UNEP FI’s centre of excellence. The consultant will bring expertise and knowledge relevant to integrating sustainability issues into the risk functions of banks and/or insurers to ensure Risk programme activities support financial institutions in best practice on risk management/client processes. The role will support enhancing management of sustainability risks in implementation of the Principles for Responsible Banking (PRB), Principles for Sustainable Insurance (PSI) and sustainability commitments in line with the priorities of UNEP FI members and UNEP. This alignment aims to enhance future activities to meet financial institutions’ sustainability risk management needs more effectively and advance integrated risk management, as well as capabilities to assess the dynamic materiality of sustainability issues. Objectives: Objective area 1: Financial sector and stakeholder engagement – Outreach to and engagement of financial institutions on climate/environmental/sustainability risk management. Assess needs of financial institutions concerning environmental and social risks and advancing forward-looking integrated risk management for future resilience. Convene key stakeholders to facilitate the Risk Centre’s role as a centre of excellence across UNEP FI’s workstreams. Establish risk-related partnerships (e.g., service providers/modelers/academic institutions that would benefit UNEP FI members and countries on advancing science-based approaches to risk analysis and management to strengthen resilience. Outreach to and engagement of Chief Risk Officers and their teams into UNEP Risk programming. Promote UNEP FI Risk outputs and offerings online and at in-person events. Provide input into the communications strategy of UNEP FI to better communicate the Risk Centre offerings to financial institutions’ risk teams in the context of PRB, PSI and climate commitments. Develop content, e.g. templates, presentations, documentation for both external and internal use. Obtain user acceptance upon successful completion of projects and support training and capacity building materials. Objective area 2: Work programme development and value creation – Clarify the business case for enhancing integration of sustainability issues into risk management processes of banks. Develop and deliver work programme to provide cutting-edge, science-based content to strengthen sustainability-related risk solutions and prudential risk management in the financial sector. Support advancements in forward-looking risk and opportunity assessments, potentially including i) scenarios, ii) client data, iii) modelling approaches, iv) legal guidance, etc. Ensure relevance for the financial sector on upcoming priorities in the field of environmental and social risk and consider how those topics might be integrated into current and future Risk programme sessions or working groups. Conduct a technical review of materials and outputs to ensure high-quality deliverables and a coherent approach to risk-related elements of banks and insurers’ sustainability journeys. Develop resources to address the needs of banks to advance sustainability risk management; Objective area 3: Strengthening and institutionalizing risk management in implementation of industry sustainability frameworks – ensuring the Risk Centre contributes to implementing the PRB, PSI, and climate commitments, enhancing work plans and materials to strengthen the Risk Centre’s value proposition to UNEP FI members. Develop long-term resourcing plan for the Risk Centre, within UNEP FI’s membership model and fundraising capabilities. Ensure Risk Centre operations enable effective member engagement and work programme delivery. Support the industry, policy & regulation, thematic teams and regional teams on proposal development and delivery to advance sustainability risk management in the financial sector. Collaborate with colleagues, share knowledge, provide support and cover for colleagues when needed. Taking ownership of Risk Centre work programme development and delivery in consultation with UNEP FI colleagues and members. Objective area 4: Advising and supporting readiness for regulatory compliance– support policy and regulation team on enhancing sustainability risk management in member states and members on readiness for compliance. Support UNEP FI’s strategy and offering on risk-related topics relevant to banking, insurance, sustainability themes and financial regulators and supervisors. Specific tasks and responsibilities: The consultant will provide assistance in the following project/tasks for UNEP FI’s communications work: • Outreach to and engagement of Risk teams on UNEP FI members with a view to engage their CROs into UNEP Risk programming. • Develop a robust work programme to convene key internal and external stakeholders to develop cutting-edge, science-based content to strengthen sustainability-related risk solutions and prudential risk management in the financial sector. • Ensuring the Risk Centre programme contributes to implementing the PRB, PSI, and climate commitments, enhancing work plans and materials to strengthen the Risk Centre’s value proposition to UNEP FI members. • Clarify the business case for enhancing integration of sustainability issues into risk management processes of banks; • Develop resources to address the needs of banks to advance sustainability risk management; • Support UNEP FI’s strategy and offering on risk-related topics relevant to banking, insurance, sustainability themes and financial regulators and supervisors. • Facilitate the Risk Centre’s role as a centre of excellence across UNEP FI’s workstreams. • Ensure relevance for the financial sector on upcoming priorities in the field of environmental and social risk and consider how those topics might be integrated into current and future Risk programme sessions or working groups. • Assess the current and projected needs of financial institutions concerning environmental and social risks and advancing forward-looking integrated risk management for future resilience. • Leverage established risk-related partnerships (e.g., service providers/modellers/academic institutions that would benefit UNEP FI members on advancing science-based approaches to risk analysis and management to strengthen resilience. • Conduct a technical review of materials and outputs produced by the Risk team to ensure high- quality deliverables and a coherent approach to risk-related elements of banks and insurers’ sustainability journeys. • Deliver on the long-term resourcing plan for the Risk Centre, within UNEP FI’s membership model. • Ensure Risk Centre operations enable effective member engagement and work programme delivery. • Promote UNEP FI Risk outputs and offerings online and at in-person events. • Provide input into the communications strategy of UNEP FI to better communicate the Risk Centre offerings to financial institutions’ risk teams in the context of PRB, PSI and climate commitments. • Support the industry, policy & regulation, thematic teams and regional teams on proposal development and delivery to advance sustainability risk management in the financial sector. • Support policy and regulation team on enhancing sustainability risk management in member states and members on readiness for compliance. • Continue oversight of Risk Centre work programme development and delivery in consultation with UNEP FI colleagues and members. Outputs and Deliverables: • UNEP FI Risk Centre’s working group workplans. • Needs assessment of UNEP FI members on sustainability risk integration. • Support delivery to PRB signatories through content development and regional capacity building • programme to build risk capabilities. • Risk Centre resourcing model and integration of delivery model across UNEP FI workstreams • Risk Centre sessions delivered to UNEP FI members. • Risk Centre materials and outputs delivered. • Attendance of virtual or in-person events to promote UNEP FI Risk programme at request. • Clear and effective communications materials produced. • Deliver communications on blue economy and food systems. The consultant will report to the overall supervisor, the Head of UNEP FI, and the direct supervisor, the Programme Management Officer (Deputy Head of UNEP FI).

Qualifications/special skills

Education: A master’s degree in risk, law, economics, finance, business administration or related fields is required. A bachelor’s degree could be taken in lieu of master’s degree provided the selected candidate has 10 years of relevant experience. Work Experience: At least eight (8) years of experience in financial services in a risk-related role or commercial consulting is required. This experience should be relevant for examining climate/environmental risks, financial sector policies and regulation. Ideally experience of a financial institution’s adoption of approaches aligned with TCFD/TNFD frameworks to integrate climate/nature into risk processes.

Languages

Languages: English is the working language of UNEP FI. Fluency in English is required. Knowledge of other United Nations languages is an asset.

Additional Information

Special skills/knowledge: Understanding of technical concepts on ESG/sustainability data and analytics, of models development, database subsystems and risk processes in banking preferred. A strong client focused orientation with the drive and enthusiasm required to achieve results and deliver high-quality outputs. The consultant should have a proven track record for working in or supporting banks, and with a particular focus on climate/environmental risks/sustainable finance. The consultant should have detailed knowledge of the field of sustainability and/or financial risks. Understanding of environmental regulation and reporting would be beneficial, as would experience of data, platforms and databases used in risk management in the financial sector.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.