Near East Foundation
Title: Innovative Finance Specialist
Reports to: SVP of Programs & Impact
Location: London
Salary: GBP 50,000 – 78,000 Annually DOE
Travel: 30%
The Near East Foundation (NEF) seeks candidates for the position of Innovative Finance Specialist to be based in London. Since 1915, NEF has supported community-led economic and social development in the Middle East, Africa, and Caucasus. As a non-profit international development organization, NEF draws on local teams, experience, and partnerships in these regions to create community-led solutions to reduce poverty, create economic opportunity, increase resilience, and empower conflict, climate- and crisis-affected people to improve their outlook and wellbeing. Our programs span three focal areas: Inclusive Economic Development, Climate Resilient Development, and Peace and Stability.
NEF works through a network of country offices and with local partners, with current or recent operations in Armenia, Jordan, Lebanon, Iraq, Mali, Morocco, Palestine, Sudan, South Sudan, and Syria. Our global headquarters are based in Syracuse, NY, London, UK, and Brussels, Belgium.
Innovative Finance
NEF has many decades of experience in developing innovative financing mechanisms to support its mission of supporting inclusive growth and devising financing solutions to address poverty, especially in fragile and conflict environments. In recent years, we have worked closely with several institutional partners, peer organizations, specialist firms, and financial institutions to design, test, and implement financial instruments designed to accelerate sustainable and inclusive growth, support SMEs, and improve access to finance for the most marginalized entrepreneurs.
Position Overview
NEF has significant experience in developing innovative financing mechanisms to support its mission of supporting inclusive growth and devising financing solutions to address poverty, especially in fragile and conflict environments. In recent years, we have worked closely with several institutional partners, peer organizations, specialist firms, and financial institutions to design, test, and implement financial instruments designed to accelerate sustainable, green, and inclusive economic growth, support private sector development and SMEs, and improve economic inclusion and access to finance for underserved entrepreneurs.
Recent facilities and platforms include:
- The first livelihoods development impact bond in Jordan and Lebanon (Orange Bond certified and the first livelihoods impact bond globally for refugees): ~$13M in investment and ~$15M in outcome financing.
- The first blended financing/impact investment facility in Northern Syria, aimed at financing SME growth: ~$10M in investment, catalytic funding, and first-loss capital.
- Decentralized climate financing in Mali and Senegal, which has supported the flow of nearly $4.5M climate financing toward 150 locally-prioritized climate resilience priorities.
- Public-private Global Development Alliance facility (GDA) to advance high-potential agricultural value chains in Palestine.
Facilities currently at the fundraising stage or under design include:
- An impact investment and equity facility in Morocco to finance the growth of Youth Climate Incubators, incorporating impact-linked loans.
- A blended financing vehicle in South Sudan, utilizing sequenced outcomes-based impact bonds and revolving funds to support last-mile enterprise growth and access to finance.
- A blended financing facility in Sudan to enhance cooperative and agricultural access to finance.
- Decentralized climate financing initiatives in Mali and the broader West Africa region.
- Several blended or outcomes-based financing facilities across the Levant region, Iraq, and Armenia, focused on private sector development, green growth, and economic inclusion.
This position provides a unique opportunity to engage with a wide network of partners, catalysts, investors, funders, and proven or piloted models to advance evidence-based development of innovative financing solutions impacting inclusive and green economic growth and development in complex environments.
Key Responsibilities
Business & Program Development
- Oversee the design and structuring of strategically important blended finance initiatives, impact bonds, outcomes-based financing models, and other innovative finance mechanisms to secure diversified and non-traditional funding.
- Develop funding and fundraising proposals and lead on relevant funding due diligence processes. This may also include the procurement and management of specialist firms and experts.
- Proactively identify and pursue strategic partnerships with impact investors, financial institutions, and other non-traditional funding sources to secure funding and expand NEF’s portfolio in this space.
Technical Advisory
- Engage cross-functionally and globally with NEF team to integrate innovative financing approaches into programmatic and operational strategies. Provide technical support to teams for implementation.
- Stay current with new methodologies, models, results, and lessons related to innovative financing to lead the continued improvement and strengthening of NEF’s global framework for designing, structuring, and implementing innovative and blended financing solutions to continuously grow non-traditional sources of capital to finance and deliver NEF’s programs, in line with our mission and strategic goals.
- Work with relevant NEF team members to assess and monitor risks related to compliance, regulations, financing/funding, and if applicable product matters.
Crosscutting:
- Uphold NEF’s core values of localization, respect, inclusion, and integrity by helping to build an environment of accountability and learning, keeping work commitments and respecting colleagues’ time, listening to diverse colleagues, and participating in regular feedback and performance reviews.
- Other duties as assigned.
Basic Requirements
We encourage all individuals who believe they have the skills necessary to succeed within this position and thrive at NEF to apply for this role, even if you do not meet 100% of the qualifications.
A Commitment to NEF mission, curiosity, a strong willingness to learn and understand NEF’s programs and the communities and stakeholders who are our partners in development, and a capacity for passionate advocacy for locally led and impactful work.
- Bachelor’s degree in finance, development finance, or a related field. Additional certifications or training in blended finance, impact investing, or related areas is a plus.
- Minimum of 5 years of professional experience in designing, structuring, and implementing innovative and blended financing solutions, including impact bonds and /or outcomes-based financing models.
- Experience in designing and implementing innovative financing vehicles for SMEs and economic development will be preferred.
- Expertise in fundraising and donor relations, with a proven track record of developing successful funding proposals and managing due diligence processes.
- Experience in risk management related to compliance, regulatory frameworks, and financial products, particularly in conflict-affected contexts.
- Experience working with impact investors, financial institutions, and non-traditional funding sources to secure diversified capital for development programs.
- Excellent analytical and problem-solving skills, with the ability to think critically and develop innovative solutions.
- Strong interpersonal and communication skills, with the ability to build relationships and collaborate effectively with diverse stakeholders.
- Fluency in English required, proficiency in additional languages preferred.
- Willingness to travel domestically and internationally as needed.
- Proficiency in Salesforce, Microsoft Word, and Teams, and familiarity with Excel.
Required Qualification
Candidates must be legally authorized to live and work in the United Kingdom without company sponsorship now and in the future.
Preferred Qualifications
- Experience using participatory approaches to design programs and develop proposals, including applying principles of co-creation.
- Experience engaging relevant communities of practice.
- Experience engaging and coordinating with international colleagues and programs.
- Knowledge and understanding of themes and cross-cutting requirements in international development, such as gender mainstreaming, market-based approaches, locally-led programming, resilience, innovative finance, technology, and innovation.
- Proficiency in French and/or Arabic.
How to apply
We will accept a rolling application until the position is filled. Review of application will begin on December 9, 2024. Interested candidates are encouraged to apply as soon as possible.
Please apply by submitting the following information to the Near East Foundation careers page at https://neareast.bamboohr.com/careers/428?source=aWQ9OA%3D%3D :
- Cover Letter
- CV
- Two writing samples illustrating your relevant proposal writing experience.
- List of three references (including one from current, or most recent, employer). You will be given further notice prior to us contacting references.
Please note only shortlisted candidates will be contacted. Women candidates are strongly encouraged to apply.
Applicants are strongly encouraged to familiarize themselves with the Near East Foundation by visiting the NEF website at www.neareast.org
The Near East Foundation promotes Equal Employment Opportunities for all applicants seeking employment and NEF employees.
Pre-employment Checks
Any Employment with the Near East Foundation will be subject to the following checks prior to start date:
- A satisfactory Restricted Party Screening and Disclosure and Barring Service (DBS) check;
- Receipt of satisfactory references.
- Workplace Verification Check.
Benefits
NEF offers a comprehensive benefits package which includes: 25 days’ vacation, Bank Holidays, employer paid employee private medical & dental, group life assurance, group income protection, 8% employer pension contribution, paid family leave, Employee Assistance Programme (EAP), and more!
NEF’s strength is its people. Our team is our fuel to achieving the innovation, quality programming, community focus, mutual trust, sustainability, and learning needed to realize our mission. To help our team thrive, we support a working structure that prioritizes flexibility, personal commitments, and staff well-being while promoting a work culture of teamwork, collaboration, respect, integrity, and excellence.
As an international organization, we value a truly diverse workforce and prioritize a culture of inclusivity and belonging. We strive to create a high-achieving work environment informed by different cultures, perspectives, and experiences. With a commitment to diversity, equality, equity, and inclusion in all we do, our aim is to ensure that people feel heard, protected, and empowered to contribute to NEF’s mission from day one.