Applications are invited from suitably qualified professionals to resource the position of MSB Data Analyst, Off-Site Examination, Money Service Businesses Regulatory Department, Payment System and Money Services Oversight Division.

The successful candidate will report to the Head, Off-Site Monitoring and will be responsible, inter alia for:

1. Managing selected databases of the Financial Markets Infrastructure Division, particularly those housing cambio trading data, and the Remittance Reporting System (RRS) to ensure performance, stability, accuracy and reliability.  
2. Performing on-going review of the reporting and monitoring systems for money service businesses in order to identify and recommend modifications/enhancements inclusive of detailed findings from tests conducted on such upgrades to ensure all user requirements are satisfied.
3. Monitoring the systems for the reporting of cambio trading and remittance transfer data to ensure all money service businesses consistently comply with reporting requirements, as a condition of their licences.
4. Conducting analyses of the cambio trading and remittance transfer data to identify trends and typologies which indicate increased AML/CFT risks and hence the need for enhanced due diligence.
5. Conducting big data mining to gather relevant data for populating the risk-based frameworks for cambios and remittance companies to ensure the Bank has current and timely updates to inform each entity’s risk profile and hence the scope and frequency of supervision of licensees.
6. Monitoring cambios’ adherence to the Surrender and FX Limit requirements and making recommendations where non-compliance is identified to ensure management decisions are effected in keeping with the Ladder of Enforcement.
7. Providing summary reports of analyses conducted on relevant licensees to aid on-site examinations in the implementation of the risk-based approach to supervision.
8. Analysing error reports generated by the system and liaising with money service businesses to ensure errors are promptly addressed recognising the implications for the integrity of the data published by the Bank.  
9. Generating summary reports on the performance of money service businesses to inform policy, respond to external requests from relevant agencies and facilitate effective monitoring of these licensees’ operations.
10. Conducting timely and comprehensive thematic studies to facilitate ongoing analysis of the inherent risk of the remittance sector, in keeping with the requirements of the Caribbean Financial Action Task force (CFATF) for the implementation of a risk-based approach to supervision of MSBs.
11. Conducting forecasting and simulation exercises on financial data, through big data analytics, to analyse economic trends in foreign exchange earnings (through remittance transfers) and foreign exchange market activity (through cambios) to aid monetary policy implementation and support the Bank’s objectives for financial market stability.
12. Preparing special assignments/presentations in response to internal and external stakeholders’ requests, such as administering and coordinating surveys of licensees or responding to questionnaires and data requests on the financial system, through the utilization of analytical, investigative and research skills.
13. Preparing analytical reports to facilitate the efficient discharge of the regulatory function inclusive of identifying developments which could pose risk to the system.

QUALIFICATION AND EXPERIENCE

• Post Graduate Degree in Economics, Accounting, Banking and Finance, Actuarial Science, or other related discipline with one (1) year related work experience.

OR

• Undergraduate Degree in, Economics, Accounting, Banking and Finance, Actuarial Science, or related discipline plus five (5) years' related working experience.
• Experience in big data analytics and training in money laundering detection techniques would be an asset.

SPECIFIC KNOWLEDGE AND SKILLS REQUIRED

• Knowledge of the MSB licensing regime, operating directions for MSBs, the Bank of Jamaica Act, the Proceeds of Crime Act (POCA), Guidance Notes on the Prevention of Money Laundering and Countering the Financing of Terrorism, Proliferation and Managing Related Risks (AML/CFT/CFP Guidance Notes), FATF Recommendations and other relevant legislation.
• Excellent analytical skills.
• The ability to work intensely and under pressure.
• The ability to work in a team-oriented environment.
• The ability to prioritise multiple tasks effectively/efficiently.
• Excellent knowledge of database management.
• Excellent communication skills.
• Good interpersonal relationship skills.
• The ability to work on own initiative with minimum supervision.
• Good working knowledge of computer applications including familiarity with specific job-related software including Microsoft Excel, Microsoft Access, dating mining software and Crystal Report Writer.
• Excellent report writing and oral communication skills.
• Programming skills and knowledge of database and statistical applications.

SPECIAL CONDITIONS ASSOCIATED WITH THE JOB

• Works in a very dynamic and stressful environment. There is constant pressure to respond to technical difficulties that clients may experience.
• Exposed to highly confidential information.
• Requires a high level of integrity and professionalism.
• Exposed to unpredictable work demands related to developments beyond the control of, and external to the Division.
• Exposed to extended periods of concentration on exacting detail.
• Required to work beyond normal working hours, when necessary, in order to meet deadlines.
• Constantly works with a large volume of data.

Interested persons who meet the above requirements should complete the application form with cover letter and full resume no later than Thursday, 25 April 2024.

NB. Only short-listed candidates will be able to access the panel interview.