Pros
UNCDF has an entrepreneurial culture. With funding (which you need to raise), you are able to pursue your programme or projects with great zeal. It has a high risk appetite, allowing for technical team to take measured risks. It has an overall good reputation in its two fields, financial inclusion and local development finance. There are some smart, talented and well meaning people in the organization.
Cons
It has the systems of a billion dollar, global organization for a $20 million organization. The UN HR system is incredibly rigid and slow, making staff recruitment and replacement difficult. Compensation and benefits having decreased significantly over the past years. The system does not allow for promotion or any merit pay. The organization is very short of core (unrestricted funds) which necessitate difficult decisions that are not being made in a timely fashion.