Yes, JAY is a Scrabble word!

Letter values in Scrabble US: J 8, A 1, Y 4.

Is it a valid word?

JAY is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

United States diplomat and jurist who negotiated peace treaties with Britain and served as the first chief justice of the United States Supreme Court (1745-1829)
crested largely blue bird

Also: john jay.