Inspector, Anti-Money Laundering

The Real Estate Board invites applications from suitably qualified individuals to fill the following post that is to be assigned to the upcoming Real Estate Authority of Jamaica (REAJ)

Career Opportunity

Inspector, Anti-Money Laundering (AML) (Level 8)

Salary Range: $4,594,306 to $6,178,831 per annum.

Job Summary

Under the direct supervision of the Senior AML Inspector, the incumbent contributes to the regulation and monitoring of the operations of real estate dealers, developers, and salesmen across Jamaica in accordance with relevant GoJ policies and real estate legislations, specifically the Anti-Money Laundering (AML) Act and the Proceeds of Crime (POCA) Act.

The Inspector AML facilitates the inspections of dealers and development sites to observe and report on their progress and ultimately provides information for management decision-making. The inspector also provides information to inform dispute resolutions, appeals and complaints as necessary.

Key Responsibility Areas:

•  Monitors case allocation to direct reports, taking ownership for their progression through to conclusion, and following up to ensure that prompt action and decisions have been taken.
• Assists with the processing of applications from real estate dealers, salesmen, developers, and other stakeholders for a suite of services provided in relation to the relevant legislations.
• Examines and monitors the operations of real estate dealers, developers, and salesmen to ensure they are complying with the provisions of the Real Estate Dealers and Developers Act (REDDA), POCA and Terrorism Prevention Acts, and are carrying out required due diligence checks in relation to their customers and employees by:

-        Visiting work sites/offices to ensure that required records are being maintained.

-        Communicating any adverse findings and following up to ensure that corrective measures are implemented. .

-        Preparing written reports on each inspection visit.

-        Updating monitoring and vetting the portal where Real Estate Dealers & Salesmen and any other practitioners prescribed under the REDDA or any other legislation re required to be registered in relation to POCA TPA or any other such international requirements similar in nature.

-        Recommending, to the Director of the Inspectorate, action to be taken regarding cases of persistent non-compliance.

• Assists in updating guidelines and procedures as it relates to POCA & AML requirements for designated real estate professionals.
• Proposes the revision of real estate sector legislations, policies, regulations, and standards based on monitoring and evaluation findings.
• Provide support to the Investigator by providing reports in relation to investigations regular monitoring routine and special investigations.
•  Prepares supervisory reports to the Financial Investigation Division (FID) and senior staff for legal actions when required and represents the REAJ at legal proceedings including tribunal and Court hearings.
• Assists with the monitoring of dealers, developers and salesmen to ensure compliance with the Real Estate (Dealers & Developers) Act.
• Assist with special projects and any other duties assigned by the Director.
• Analyze data provided through risk assessment to detect weaknesses in our monitoring framework.
• Responds to queries and information requests from industry personnel and members of the public.
• Receives, investigates, and resolves complaints from dealers, developers, salesmen, members of the public or other parties as provided for under the relevant Acts.
• Receives information on or identifies critical issues or breaches that will impact industry practitioners and the public at large and follows-up with a written report.
• Promotes the Authority’s policies by making presentations at seminars, discussions and other fora to industry personnel, staff of the REAJ and the public.
• Keeps abreast of legislative and other changes in the international and local environments and initiates preemptive actions by the Section.

Required Qualifications and Experience

• First degree in Land Economy, Valuation Surveying (Estate Management); or Professional designation such as ACCA or CPA; or First Degree in Business Administration/Management Studies majoring in Finance/Accounts.

PLUS

• Anti Money Laundering (AML) or Counter Financing of Terrorism (CFT) training.
• Three (3) years’ Auditing or Accounting experience.
• Two (2) years progressive experience in the Regulatory Sector
• Training in paralegal studies

Applications accompanied by résumés should be submitted no later than Tuesday, August 8, 2023, via https://rebcsc.bamboohr.com/jobs

Please note that we thank all for responding, but only short-listed applicants will be contacted.