At the JN Group, we are committed to safeguarding your accounts, funds and information, and our teams are committed to the highest standards of integrity and performance.

We have several teams within the Group, consisting of our internal audit, financial and risk management professionals, who monitor and ensure that best practices and procedures are maintained, in keeping with regulatory standards, so that exposure to risks are minimised.

We use a variety of controls to detect and prevent unauthorised access to your data. As part of our security procedures, we:

• Regularly review security standards and mechanisms, and test our various systems
• Monitor the financial environment carefully so that we can put in place the best mechanisms to protect our customers’ information and funds
• Stay up to date with emerging trends and changes in the financial landscape
• Ensure that monitoring systems are equipped to detect trends related to user login activity on customers’ accounts

HOW WE MANAGE EMPLOYEE ACCESS TO YOUR INFORMATION

• Ensure that robust control mechanisms and processes are in place so that only authorised employees have access to our systems. These levels of authorisation are reviewed on a regular basis
• Educate and train our employees in cybersecurity and best practices, including twice-yearly mandatory training
• Encourage the use of our employee Whistleblower policy to report improper conduct or fraudulent activities
• Have a Conduct Review Committee that monitors and reviews transactions and activities of employees and directors that involve personal, family, financial or business relationships which could create actual or potential conflicts of interest

The JN Group has risk management processes in place to protect your assets and to ensure that we can continue to serve you.

Our Business Continuity Plan (BCP) ensures that service to you is maintained in the event of a crisis which may disrupt our normal operations.  The BCP includes:

• Maintenance of a back-up system for client and other information
• Regular communication to customers, regulators and other stakeholders to provide updates about our activities
• Detailed guidelines to enable our return to normalcy in the shortest possible time
• Periodic testing of the plan to ensure its effectiveness and relevance

Regulatory Compliance

Our regulated companies are licenced by the relevant government authorities, including the Bank of Jamaica (BOJ), Financial Services Commission (FSC), and the Jamaica Stock Exchange (JSE), and we are committed to meeting all the requirements of our regulators.                            

Internal Audit

Our Internal Audit team conducts detailed probes, on a regular basis, to review controls and compliance with policies and procedures, laws and regulations in the areas of investment management, pension accounting, and regulatory reporting.

The scope of internal audits includes examination and evaluation of the adequacy and effectiveness of our governance, risk management, and internal processes.

Corporate Integrity

We maintain a robust Corporate Integrity Unit which helps to ensure that employees do not engage in inappropriate conduct that may compromise our clients’ safety and the safety of their assets.

Cybersecurity

Our cybersecurity team works to safeguard our online interactions and financial services platforms. Customers use our online platforms, such as JN Bank LIVE (www.jnbslive.com) or our JN Fund Managers’ portal (www.online.jnfunds.com) to access and monitor their accounts and conduct some transactions. The platforms are designed with your security in mind. Not only are our platforms monitored constantly, but we have automatic alerts for customers to ensure full transparency when online transactions are being conducted on their accounts.

JN Bank customers who use the JN Bank LIVE online platform receive alerts, such as a SMS text message when transactions are sent to other banks or to JN accounts.

A SMS text message is sent to the customer each time he/she conducts a transaction using a JN Bank credit card. Additionally, a SMS text message is sent for card-less deposits done at JN Bank Smart ATMs.

JNFM customers receive:

• Transaction statements via email notification after transactions to buy and/or sell securities.
• Transaction statements or confirmation notifications via email when rolling over investments such as repurchase agreements.
• Quarterly statements

Customers are encouraged to be aware of the popular methods used by hackers to steal their personal information and the steps that can be taken to safeguard their accounts. We educate clients about these trends and practices so that they can protect themselves.

Our webpage www.jngroup.com/security provides information to assist persons to better protect their data.

All deposits at JN Bank are covered by the Jamaica Deposit Insurance Corporation (JDIC), within specified insured limits stipulated by the Jamaican government, in the event of the failure of the bank. Client funds at JN Fund Managers are not covered by the JDIC; however, JN Fund Managers has acquired private insurance coverage to protect clients’ investments.

JN Bank and JN Fund Managers also have private insurance coverage in place which is used to repay customers if there is proof that funds were removed dishonestly from their accounts.

There is also ongoing fraud detection and prevention education and training for employees. This involves:

• Sensitising staff members about the fundamentals of fraud prevention and detection
• Providing a better understanding of fraud mitigation policies and procedures, and
• Encouraging adherence to these policies and procedures.

Funds are invested in Government of Jamaica securities and corporate bonds approved by the Financial Services Commission (FSC). These securities are held by approved independent entities such as the Jamaica Central Securities Depository and the BOJ.

• Your investments are monitored regularly against these securities, in keeping with the requirements of the FSC
• The FSC conducts periodic assessments of our operations to ensure that our clients’ investments are fully backed only by approved securities

We have a Privacy Agreement which outlines how we handle your personal information. Among other things, we commit to:

1. Secure and protect your personal information.
2. Not disclose your personal information outside the JN Group without your consent.
3. Enable you to express your preferences so that you can manage how we use your personal information.

You can visit www.jngroup.com/privacy-notice for more details about how your personal information is managed.