Job Opening

Posting Title: UNEP Finance Initiative (UNEP FI) – Consultant to manage UNEP FI’s Principles for Sustainable Insurance Initiative (PSI) TCFD Pilot Project
Department/Office: United Nations Environment Programme
Duty Station: GENEVA
Posting Period: 08 January 2020 - 09 February 2020
Job Opening Number: 19-United Nations Environment Programme-128983-Consultant
Staffing Exercise N/A
United Nations Core Values: Integrity, Professionalism, Respect for Diversity
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Result of Service

The outcomes of these services will be used to strengthen the PSI’s climate-related activities and the implementation of the Principles for Sustainable Insurance and help achieve goals set out in the PSI work programme. This, in turn, will help the (re)insurers in the pilot group to implement the TCFD recommendations.

Work Location

Geneva, Switzerland.

Expected duration

The contract will be for 6 Months (Subject to renewal).

Duties and Responsibilities

UN Environment Finance Initiative (UNEP FI) is a partnership between UN Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. Over 200 financial institutions, including banks, insurers and investors, work with UN Environment to understand today's environmental challenges, why they matter to finance, and how to actively participate in addressing them.

Endorsed by the UN Secretary-General and insurance industry CEOs, the Principles for Sustainable Insurance (PSI) serve as a global framework for the insurance industry to address environmental, social and governance risks and opportunities—and a global initiative to strengthen the insurance industry’s contribution as risk managers, insurers and investors to building resilient, inclusive and sustainable communities and economies. Developed by UNEP FI, the PSI was launched at the 2012 UN Conference on Sustainable Development and is the largest collaborative initiative between the UN and the insurance industry.

Following the publication of the final recommendations by the Financial Stability Board’s (FSB) Task Force on Climate-Related Financial Disclosures (TCFD) in 2017, 23 insurance and reinsurance companies have joined forces under the auspices of UNEP FI’s Principles for Sustainable Insurance Initiative (PSI) to jointly pilot the implementation of TCFD recommendations.

This follows the work of equivalent groups of 16 banks (launched in 2017) and 20 investors (launched in 2018), also convened and facilitated by UNEP FI.

The PSI work on TCFD adoption has the following objectives:
1. Enable the (re)insurers making up the pilot group to assess and disclose climate-related risks and opportunities in a way that is aligned with the TCFD recommendations.
2. Contribute to the emergence of a harmonised approach to TCFD disclosure by (re)insurers and provide guidance to the wider insurance industry.

The consultant will report to the UNEP FI Climate Change Programme Officer.

The main body of this project is the pilot group, currently 23 (re)insurers from across the globe, collectively representing about 10% of world premium volume and USD 6 trillion in assets under management. The pilot group makes the decisions on the project and collectively funds all third-party expertise required. The pilot group is supported by the UNEP FI-PSI Secretariat employed by UN Environment. The Secretariat is responsible for convening the pilot group, facilitating calls and meetings, project management, and final delivery of this pilot project.

Given the above, UNEP FI requires a part-time consultant, at 80%-time availability, to act as the PSI project manager and focal point for activities related to building scenarios and analytical approaches for (re)insurers to assess climate-related risks and opportunities.

The consultant will:
• Act as the focal point for the 23 (re)insurers in the pilot group and third-party experts engaged for the project
• Review the work of third-party experts selected by the pilot group
• Engage and coordinate with pilot group members
• Project manage the pilot, including the achievement of various deliverables within the project timeline
• Communicate with and update pilot group members regularly
• Organise pilot group in-person meetings, calls and follow-ups
• Undertake the implementation of methodologies and analytical approaches for (re)insurers to assess climate-related risks and opportunities as part of the pilot.
• Ensure that the pilot’s outcomes provide guidance to the wider insurance industry
• Organise and coordinate the launch of the PSI-TCFD pilot group’s final outputs
• Communicate outputs of the pilot group through various channels.

Deliverables/Outputs
• A full project implementation, delivery and communications plan, presented to and agreed on by all (re)insurers in the pilot group, and third-party experts, as necessary
• Regular interactions, usually carried out via e-mails and conference calls, to facilitate required communications involving the pilot group of (re)insurers, third party experts, communications partners, and members of the UNEP FI- PSI Secretariat
• 4 in-person meetings involving (re)insurers in the pilot group and third-party experts to discuss and agree on key matters at critical junctures of the project
• 5 case studies submitted to the UNEP F-PSI Secretariat by (re)insurers in the pilot group, reflecting their experiences from the piloting exercise, including assessment results, if applicable
•A UNEP FI-PSI co-branded tool, if applicable, that translates the newly developed or refined methodologies into a computer-based format readily usable by insurance organisations within the UNEP FI-PSI network
•A UNEP FI-PSI report on the key findings of the pilot project, developed in collaboration with the pilot group of (re)insurers and third-party experts. The report will include methodologies developed and tested, insights gained during the pilot project, recommendations for future action, and several case studies submitted. It is envisioned that the bulk of the development and drafting of the report will be done by third party experts, in coordination with the UNEP FI-PSI Secretariat
•A full communications strategy and plan to ensure effective and successful launch and dissemination of project deliverables, developed as part of UNEP FI-PSI’s wider communications strategy and carried out in coordination with communications functions at UN Environment more broadly, the (re)insurers in the pilot group, and third-party experts
• 1 in-person and 1 to 3 virtual launch and dissemination platforms, accompanied a number of communications-related deliverables as detailed in the communications plan, including press releases and promotion via social media

Qualifications/special skills

Skills: Proven track record and expertise in climate risk assessment, modelling and/or underwriting in the context of the insurance business—ideally spanning both life & health and non-life insurance lines—as well as international project management experience involving multiple stakeholders.

Academic Qualifications: Advanced university degree (master’s degree or equivalent) is required in insurance, risk management, finance, business administration, economics, environmental/sustainability studies, international relations, law or related fields; along with at least 7 years of relevant experience. A First-level university degree (bachelor or equivalent) is required in insurance, risk management, finance, business administration, economics, environmental/sustainability studies, international relations, law or related fields; along with at least 10 years of relevant experience.

Experience: At least 7 years of experience is required in the insurance industry, risk modelling industry and/or or commercial consulting industry, assessing, modelling and/or underwriting climate-related risks in the context of the insurance business.

Language: English is the working language of UNEP FI. English is mandatory for this consultancy. Knowledge of other official UN languages is an asset.

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.

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