Head of Innovation Challenge Fund
Report to: CEO
Application deadline for the position is July 5, 2017
Karandaaz Pakistan seeks to hire a Head of Innovation Challenge Fund who will be the focal person for managing and running Challenge funds rounds as funded by Karandaaz sponsors. Challenge funds are designed to leverage the creative power and commercial instincts of private sector, development institutions and financial service providers to overcome development challenges. The challenge fund, through the provision of competitively sourced matching grants, can overcome market failures that would otherwise prevent a grantee from making an initial investment, either from the cost of information discovery, costs of mitigating risks or simple lack of available funding.
The head of ICF will be responsible for designing and executing rounds of the Challenge fund based on themes as approved by the Karandaaz Board of Directors. The candidate’s responsibilities will range from technical design, financial management and administration to mentoring, provision of technical assistance, research and advocacy for challenge fund rounds.
Specific tasks of head of ICF will be as follows,
- Conduct research and analysis to develop background knowledge on key challenges to financial inclusion
- Develop conceptual notes that describe identified challenges through desk research and stakeholder engagement
- Lead the activity of designing documentation for soliciting innovative solutions; the documentation includes but is not limited to funding process (eligibility and selection criteria, advisory committee constitution, application forms, guidance notes and systems for fund disbursement, governance, transparency and performance monitoring etc)
- Contribute to the technical and financial design of the Challenge Fund
- Ensure that the Fund design attracts the target audience, in accordance with BOD guidelines
- Manage the competitive process for the different rounds of the fund, including proposal screening and selection of grantees
- Manage the grants process including assessment and oversight, with a strong emphasis on due diligence, Value-for-Money and cost effectiveness
- Work with the Communications team for promotion of the Challenge Fund among potential grant applicants through use of social and print media, events etc
- Manage the process of screening and appraisal of grantee applications for funding from a concept note stage, followed by, if successful, by a full proposal. The head of ICF must ensure that appropriate due diligence is carried out on Grantees’ to assess whether their policies adhere to Karandaaz standards and are in line with Karandaaz objectives. Due diligence checks will include assessment of financial management and accounting practices and systems, environmental protection, etc.
- Assist in the development of tools for monitoring and measuring the progress of the grantees
- Draft periodic reports on the challenge fund rounds for the project management as well as the donors
- Any other task as may be required
- At least a Master’s degree in a relevant discipline such as finance, economics;
- At least eight years’ experience in international development, Impact investing or Corporate finance, with experience in Grant management highly desirable
- Experience in structuring programs to target the poor and vulnerable and/or women and youth preferred
- Proven management capacity with a project track record in comparable development finance assignments
- Strong quantitative analytical skills and experience in performing independent critical financial analyses of institutions
- Proven ability in carrying out institutional weakness analyses as well as devising executing and monitoring technical assistance programs;
- Proven ability to work within a complex multi-dimensional organizational environment, strong interpersonal skills and cultural sensitivity commensurate with the highly visible role of the head of ICF
- Fluency in written and spoken English, including proven effective presentation and report writing skills.
- Ability to interface with and manage stakeholders at senior level
- Ability to work to multiple and tight deadlines with a commitment to quality, accuracy and attention to detail
- Team player and self-starter, shows initiative; works independently; has innate curiosity; passion for research, analysis and delivering insights to the market
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Note: Karandaaz is an equal opportunity employer. Only shortlisted candidates will be called for an interview.