Duty Station: Addis Ababa, Ethiopia
Closing Date: 30 November 2022
The OEC: The Organisation of Educational Cooperation (OEC) is an international intergovernmental organisation, founded in January 2020 by countries from across the Global South, to “contribute to the equitable, just, and prosperous social transformation of societies by promoting balanced and inclusive education, in order to attain the fundamental rights to liberty, justice, dignity, sustainability, social cohesion, and material and immaterial security for the peoples of the world”.
The CLUB: The Common Leveraging Union of Borrowers (CLUB) – a key instrument of the OEC – is an innovative solution to the several challenges and constraints faced today by sovereign borrowers in the Global South. The CLUB is a union of borrowing countries (OEC Member States) which have combined forces to jointly apply for development loans, oversee the national utilisation of the loan funds, and repay the borrowed amounts. This novel approach, which seeks to be operational in the next two years, has numerous potential benefits for low-income borrowers, including unhindered access to debt instruments, enhanced bargaining power in loan negotiations, and incentives for effective loan utilisation. The CLUB is hosted within the broader OEC organisation and is managed directly by the OEC’s Department of Financing for Development (FINDEV).
The main functions of FINDEV are to:
a. provide technical and policy support to Member States in developing context appropriate frameworks for the implementation of sustainable public private partnerships
b. host and support the Common Leveraging Union of Borrowers (CLUB)
c. collectively secure more favourable financing and debt relief for the CLUB members
d. reinforce the case and actively advocate for a more equitable international financial system considering the interests of Member States.
Under the overall authority of the Secretary-General, the guidance of the Under-Secretary-General for FINDEV, and the direct supervision of the CLUB Coordination Chief of Section, the Legal Advisor will work closely with the Department of Legal Affairs (DELA) to handle all legal aspects of the CLUB’s lending agreements and where needed, will provide legal advice on other activities of the CLUB. This position provides the unique opportunity of joining the core team of a new international organisation – contributing to its lasting construction and influencing its future trajectory – and an innovative international financing instrument.
- Assume primary lawyer responsibility for all activities and agreements between the CLUB and creditors
- Structure, draft, negotiate and advise on the application and interpretation of loan/debt restructuring agreements between the CLUB and various creditors
- Advise on the risks and benefits of the proposed agreement leaving no room for surprises should there be any defaults or disputes in relation to the agreement at a later stage
- Attend, if necessary, meetings with creditors and provide legal advice where needed to the Creditor Liaison Officer
- Work with the Senior Investment Officer to review the accuracy of each agreement
- Communicate on a regular basis with the CLUB team and provide sound, solid legal advice on debt finance
- Advise on the development, interpretation and application of the CLUB’s internal policies, directives and procedures
- Knowledge in corporate law and/or banking law and/or contract law
- Ability to provide advice which consistently and clearly identifies, manages and mitigates legal risk
- Proven track record of drafting legal documents in English
- Excellent drafting, negotiation and project management skills as well as excellent written and communication skills
- Ability to handle pressure and work to challenging deadlines
- Ability to operate sensitively and effectively in a multicultural environment and deal with cross-cultural sensitivity
- A minimum of 3 years relevant experience gained in an international law firm and/or international organisation, financial institution and/or legal department of a commercial/investment bank
- Master’s degree (or higher) in law
- Admitted to practice law in at least on jurisdiction is an asset
Candidate must at least be fluent in English. Additional knowledge of one or more other official languages (French, Arabic, Spanish) is an asset.
HOW TO APPLY
This position is open to international applicants.
All applications must be sent to HRE@OEC-OCE.ORG and must include:
- Subject line: “CLUB [JOB TITLE] – Application”
- Curriculum Vitae
- Letter of Motivation
- Any other relevant information