Climate and Disaster Risk Finance and Insurance

Latin American countries are exposed to a growing number of adverse climate events. In recent times, because of climate change, these events have not only been more frequent but also more devastating in terms of the economic losses they have caused. Therefore, it is imperative to promote the development and implementation of financial risk management strategies and solutions. The potential benefits of focusing on this type of ex-ante solutions are greater than their eventual costs and allow countries to reduce their fiscal and financial vulnerability to these events.

The Connectivity, Markets, and Finance Division (IFD/CMF), through the Risk Financing and Insurance Technical Group, has been supporting IDB’s borrowing member countries in the design and implementation of strategies and programs for the financing and transfer of climate and disaster risks, through a combination of different financial instruments. The main instrument deployed has been the Contingent Credit Facility (CCF), which seeks to provide borrowing member countries with liquid resources immediately after the occurrence of a disaster of severe to catastrophic proportions to help them deploy humanitarian assistance, restore basic services to the population, and other response measures. The Bank has been using the CCF for 15 years, providing coverage for approximately US$3.5 billion to 17 countries in the region for earthquakes, hurricanes, floods, and other risks.

As a result of the above, the IDB has positioned itself as one of the main multilateral institutions supporting the countries of Latin America and the Caribbean in the area of financial management of disaster and climate change risks that affect the public sector, the productive sectors (such as the agricultural sector) and the population in general. There is a growing demand from borrowing countries for both technical assistance and climate and disaster risk financing and insurance instruments.

We are looking to strengthen its technical team by incorporating a Climate and Disaster Risk Finance and Insurance (CDRFI) Consultant with the necessary capacity and experience to support the design and implementation of strategies and programs, as well as the development of innovative financial solutions for climate and disaster risk financing for both the public and private sectors, as well as the generation of technical knowledge on the subject.

You will work with the Risk Financing and Insurance Technical Group in the Connectivity Markets, and Finance Division, part of the Institutions for Development Department.

What you’ll do: 

• Conduct methodological analysis for the design and operational implementation of climate and disaster risk financing and transfer programs.
• Participate in the design and implementation of lending and technical assistance programs and projects.
• Contribute to the technical dialogue and capacity building of governments and financial sector institutions in the strategic management of climate and disaster risks.
• Provide technical recommendations to improve the Bank’s risk management products and financial instruments.
• Participate in the development of innovations in risk transfer (e.g. agriculture insurance, risk pooling).
• Generate and maintain strategic alliances with the private sector, academic and scientific institutions, multilateral and humanitarian organizations, and institutions dedicated to climate financing, among others.
• Contribute to the production of technical notes and other relevant documents for the dissemination of the knowledge generated by the Bank related to DRFI.

What you’ll need:

Education:

• Master’s degree in finance, economics, law, or other fields relevant to the responsibilities of the role.

Experience:

• Between 5 and 10 years of progressive experience in the public and/or private financial sector, or in multilateral organizations, where you have participated in the analysis, design, and successful implementation of risk financing strategies, programs and/or projects. You must have relevant work experience and an advanced understanding in the field of risk financing. Experience in probabilistic modeling with stochastic methods will be highly valued.

Languages:

• Proficiency in Spanish and English, spoken and written, is required. Additional knowledge of French and Portuguese is preferable.

Source:  https://iadbcareers.referrals.selectminds.com/jobs/climate-and-disaster-risk-finance-and-insurance-cdrfi-consultant-6003