A valve assembly including a tubular having a first end, a second end, and an intermediate portion extending therebetween. The second end includes one or more openings. A pin member extends radially outwardly of the intermediate portion of the tubular. A valve member is arranged about the tubular. The valve member includes a first end portion, a second end portion and an intermediate section extending therebetween. The second end portion includes a valve element that registers with the one or more openings. An actuator sleeve is mounted to the first end of the valve member and extends about the tubular. The actuator sleeve includes a first end section, a second end section, and an inner surface extending therebetween. The inner surface includes a plurality of J-slots that are selectively receptive of the pin member to establish a position of the valve element relative to the one or more openings.