Established in 1959, the Inter-American Development Bank (IDB) is today the main source of multilateral financing for economic, social, and institutional development in Latin America and the Caribbean. It provides loans, grants, guarantees, policy advice and technical assistance, and produces and disseminates knowledge products, to the public and private sectors of its borrowing member countries.
The IDB (INE/WSA) is in the process of structuring the Caribbean Water Utility Insurance Company (CWUIC SP). CWUIC SP will be established as a segregated portfolio (SP) within CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility SPC) serving water utilities in the Caribbean. CWUIC SP’s primary objective is to help utilities recover from natural hazards. To achieve this, CWUIC SP will have three components:
- Component 1: The CWUIC Response Program. CWUIC SP will provide support for post-disaster assistance and coordination between utilities to restore and rebuild water utilities post disaster. The program will: (i) Improve communications; (ii) Provide guidance on advanced agreements with suppliers; (iii) Develop procedures to survey damage caused by the natural disaster; (Iv) Develop procedures for the mobilization, deployment and coordination of workmen and crews; (v) Develop procedures for the movement of materials, tools, and equipment; and (vi) Provide training and development for personnel
- Component 2: Parametric Insurance. CWUIC SP will be an insurance vehicle with layers of coverage including reinsurance to effectively address substantial and catastrophic losses. CWUIC SP’s objective will be to provide parametric insurance at affordable rates with low deductibles to provide utilities with adequate insurance against natural disasters. CWUIC SP would be well supported by reinsurers and could provide additional claims capacity than is currently available in the traditional insurance market
- Component 3: Investments in loss control measures. CWUIC SP will provide its members access to financing for qualifying resilience projects. The objective of this component is to increase the resilience of CWUIC SP’s member utilities to natural disasters. Through this component, CWUIC SP will provide grants and loans to its members for investments in projects to reduce or control losses caused by natural disasters.
To advance the structuring of CWUIC SP, it is critical to coordinate all aspects of the structuring as well as the stakeholders involved. To achieve this, the IDB’s Water and Sanitation Division (INE/WSA) will engage a consultant to coordinate the CWUIC SP program among all parties involved and assist with the structuring.
The team: INE/WSA project team
The team’s mission:
The Water and Sanitation Division (INE/WSA) within the Bank is committed to expanding access to quality services for low-income and vulnerable populations, promoting comprehensive and sustainable solutions, improving sector governance and financial sustainability, and incorporating the concept of water security in the sector, particularly by increasing wastewater treatment coverage, protecting supply watersheds and reducing flooding risk.
What you’ll do:
The CWUIC SP Program Coordinator (“Program Coordinator”) will report to the CCRIF SPC CEO and provide dedicated support to develop, implement, establish, and operationalize CWUIC SP. The Program Coordinator will be responsible for coordinating and managing, on behalf of CCRIF SPC, the various tasks required for effective operationalization of CWUIC SP. It is expected that this assignment will be full-time for a period of one year commencing in the first quarter of 2022.
Specifically, the Program Coordinator will:
- Work with the CWUIC SP partners and CCRIF SPC to coordinate, review, and manage to completion, the feasibility studies and Business Plan as well as other consulting assignments that will be required under the CWUIC SP Work Plan. The Program Coordinator will contribute to the preparation of the feasibility study which is geared towards identifying the insurance products to be offered by CWUIC SP. The Program Coordinator will liaise with the relevant parties to support the development of financial projections, a funding strategy, product description, and a risk assessment in the preparation of the Business Plan.
- Work with CCRIF SPC management to complete its financial, regulatory, and legal due diligence to obtain all approvals for the establishment of CWUIC SP in CCRIF SPC as a segregated portfolio (SP).
- Support CCRIF SPC’s management to obtain regulatory approvals for CWUIC SP to operate as an insurance vehicle throughout the region as required on a case-by-case basis.
- Coordinate with development partners, CWWA, CAWASA, and other relevant stakeholders to ensure the successful implementation of the program in accordance with the program objectives and stated outcomes, suggesting ways to build upon the components of the program.
- Assist the [CCRIF SPC CEO] in the management of the program to ensure that program deliverables and outcomes are achieved.
- Manage relationships with CWUIC SP partners to achieve institutionalization of parametric insurance for water utilities in the Caribbean region and the overall agenda of strengthening the disaster risk management-resilience nexus.
- Lead and ensure the timely preparation and submission of inputs to meet reporting requirements and lead the process of the donor reporting, including preparation of materials for regular donor updates on CWUIC SP progress (deliverables, activity reporting, and other reporting as required).
- Help develop a sustainable strategy for CWUIC SP and support the proposal drafting process, including identifying, and applying for new funding.
- Represent the organization at regional and international climate and disaster risk financing and insurance events, expert meetings, and conferences as needed.
- Prepare and participate in field missions and work to actively strengthen relationships with strategic partners and donors.
- Communicate with the stakeholders as directed by the CCRIF SPC CEO, in keeping with CCRIF SPC’s overall communications strategy.
What you’ll need:
- Citizenship: You are either a citizen of Trinidad and Tobago or a citizen of one of our 48-member countries with residency or legal permit to work in Trinidad and Tobago.
- Consanguinity: You have no family members (up to fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB Group.
- Education: Master’s degree in environmental technology, geology, economics, public policy, or related field preferred.
- Experience: At least 8 years of working experience at senior management level
- Languages: Excellent writing, presentation, and communication skills with a fluency in spoken and written English.
Core and Technical Competencies:
Excellent team player with good interpersonal skills demonstrated by the ability to work in a multi-cultural, environment with sensitivity and respect for diversity.
- Project management and implementation experience required; especially projects focused on development
- Experience working in the Caribbean region, particularly with multilateral agencies
- Fieldwork experience in different developing country contexts is an asset
- Strong insurance background, or experience working with insurers, would be desirable
- A good understanding and/or experience in technical and organizational disaster risk reduction and management and climate change adaptation
- Ability to negotiate with partners and funding institutions
- Existing professional networks consisting of contacts to academic partners, private insurers, government officials (e.g. insurance regulators, disaster risk management authorities and related), relevant development partners would be preferred
- Track-record of participating in international fora
- Type of contract: Consultant Full Time
- Length of contract: 12 months
- Starting date: 09/012022
- Location: Trinidad and Tobago
- Responsible person: Lead Water Specialist INE/WSA
- Requirements:You must be a citizen of one of the IDB’s 48 member countries and have no family members currently working at the IDB Group.
Our culture: Our people are committed and passionate about improving lives in Latin-America and the Caribbean, and they get to do what they love in a diverse, collaborative and stimulating work environment. We are the first Latin American and Caribbean development institution to be awarded the EDGE certification, recognizing our strong commitment to gender equality. As an employee you can be part of internal resource groups that connect our diverse community around common interests.
Because we are committed to providing equal opportunities in employment, we embrace all diversity and encourage women, the LGBTQ+ community, persons with disabilities, afro-descendants, and indigenous people to apply.
At the IDB, we’re committed to improving lives. Since 1959, we’ve been a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. We do more than lending though. We partner with our 48-member countries to provide Latin America and the Caribbean with cutting-edge research about relevant development issues, policy advice to inform their decisions, and technical assistance to improve on the planning and execution of projects. For this, we need people who not only have the right skills, but also are passionate about improving lives.
Our team in Human Resources carefully reviews all applications.
- External Opening Date: Aug 8, 2022
- External Closing Date: Aug 12, 2022
- External Contact Email: [email protected]
- External Contact Name: HR Service Center
- Job Field: Technical Support