AML Examiner

AML Examiner

CAREER OPPORUNITY

AML EXAMINER-FIXED TERM CONTRACT

The Financial Services Commission (FSC) is an integrated financial services supervisor/regulator. Our mission is to regulate and supervise the securities, insurance, trust and corporate service providers and private pensions industries, for the protection of their customers, thereby enhancing public confidence in the financial sector of Jamaica.

WHY JOIN THE FSC?

The FSC is undergoing a transformative evolution to strengthen and modernize financial regulation. This is a unique opportunity to contribute to meaningful institutional development, work alongside dedicated professionals, and help build a lasting legacy of integrity and public service. The role offers the chance to lead with impact while supporting national objectives for financial stability and sustainable economic growth.

MAJOR ACCOUNTABILITIES:

• Preparing and updating examination programmes (testing plans, examination worksheets and other working papers) for review/approval by the Examiner in Charge.
• Keeping abreast of new and emerging ML/TF/PF trends relevant to the regulation and supervision of particularly the insurance and securities industries to inform meaningful dialogue and enhancements to supervisory activities, policies and procedures. 
• Reviewing periodic submissions from licensees in support of their ML/TF/PF risk profiles to ensure the efficacy of the information shared.
• Preparing accurate and timely documentation of minutes of meetings held with representatives of the financial institutions,
• Preparing draft correspondence for review by the Head of Department in response to letters from licensees on various matters requiring supervisory responses including preparation of initial and closing letters.
• Working with the Enforcement Unit in preparing case files evidencing breaches of the POC (MLP) Regulations, identified during examinations or through ongoing monitoring.
• Contributing to the preparation of timely, incisive and analytically sound letters to the Board and Senior Management of assigned licensees.
• Support the execution of National Risk Assessment (NRA) processes as required.
• Support the organisation’s collaboration with the Prime Contact Secretariat to address Jamaica’s obligations in relation to the Financial Action Taskforce International Co-operation Review Group process.
• Working collaboratively with the Legal, Regulations and Research and Policy Regulations teams to assess and inform appropriate guidance relevant to AML/CFT/CPF matters.
• Conducting ongoing offsite monitoring of assigned licenses/registrants and preparing, at minimum, timely, incisive and analytically sound reports that address:

• any breaches of the legislative framework addressing AML/CFT/CPF, the Commission’s issued Guidelines on same, or other standards identified.
• material changes in the licensee’s business strategy, customer base, products, services, delivery channels, geography and the attendant impact on its AML/CFT risk profile; and
• and material developments which may impact the institution’s AML/CFT   risk profile that requires immediate regulatory action or enhanced monitoring.

• Utilizing analytical tools and current trends to establish and update the ML/TF risk profile of assigned licensees/registrants on an ongoing basis, including the preparation of comprehensive documentation to support the risk assessments.
• Executing key fieldwork procedures during onsite visits, including analytical procedures around testing, validations, confirmations, walkthroughs, preparing comprehensive examination worksheets and drafting the report for final review.

QUALIFICATIONS AND EXPERIENCE:

• First degree Law, Accounting, Finance, Management Studies or related discipline.
• Professional certification(s) such as CIA, CRMA, CAMS, ICA, CFE and any other professional designation would be an asset.
• The job requires at least 3 years’ relevant working experience.
•  Experience working in a professional services firm, financial institution or regulatory body will be a distinct advantage.