Manager, Risk & Control Governance & Reporting

Retail Banking Services (RBS) is the public face of CommBank, delivering a seamless banking experience for the future, to our 10 million + personal and small business customers. We offer market-leading products and services, supported by some of the world’s best systems and processes.
The RBS Control and Customer Outcomes Team (CCO) is focussed on supporting RBS to have best practice management of risks, controls and conduct to ensure customers get the right outcomes. We aim to make things simple and easy so that our customers receive the best experience and want to do more business with us. We are also involved in rolling out Product Governance change initiatives across RBS to ensure our Business Partners can look to implement such change in a pragmatic manner which looks to balance customer outcomes and business outcomes.
The Product Governance and Regulatory Change sits within the CCO team. The team challenges and enhances the way we govern, design and distribute products and services.
The objectives of the team are to:

• Implement, manage and embed end to end product governance framework that extends from product design, in-life product monitoring to termination/migration to ensure that only suitable products are manufactured and distributed to RBS customers.
• To review all products manufactured and/or distributed by RBS channels and or third parties to RBS customers to ensure they comply with the articulated minimum product governance standards set by the Group.
• To manage conduct risk awareness and customer outcomes uplift activity across RBS.
• To complete end to end management of product concept reviews (relating to new product and major changes to existing products).

Do work that matters:
This is a permanent role, with the key purpose of completing deep dive reviews into products and services focused on conduct risks and customer outcomes. The role supports and constructively challenges RBS to focus on conduct risk events and how the design and distribution of products impacts on customer outcomes and our ability to meet community expectations. .
You will work close with colleagues across product and distribution, Compliance and Customer and Community Advocacy.
Your responsibilities will include:

• The timely completion of product and cross-product reviews, identifying issues and concerns specific to the product or process under review.
• Product reviews will require using a range of inputs into investigations, including data extracts, customer complaints, customer collateral, industry observations and workshops with key stakeholders to examine products, processes, systems, risks and controls.
• Review of new product launches and major changes to existing products to ensure compliance with internal policy and product governance as well as identifying poor customer outcomes.
• Preparation of qualified recommendations to senior leaders, clearly and concisely communicating these to drive the conduct agenda to improve our products for our customers.
• Build and foster strong stakeholder relationships across the product and distribution teams to ensure efficient delivery of strategic initiatives and resolution of issues identified during product reviews.
• Provide administrative support in managing stakeholder materials, managing action plans and timelines.

We're interested in hearing from people who have:

• Product management background preferred with demonstrated knowledge of financial service retail products including their features, how they are distributed to customers, the compliance and regulatory frameworks in which they operate in Australia, risk frameworks that apply to product management.
• Strong reasoning ability and negotiation / influencing skills, across a range of stakeholder groups
• Ability to think critically, analytically and strategically.
• Advanced written and verbal communication skills with a proven experience in report writing and presentations.
• Relevant tertiary degree or diploma in Law, Commerce or Business (preferred).
• 3 – 5 years’ experience working with retail financial services products, either in product management, audit or compliance.

If you are an experienced professional with a desire to take on complex work/projects then we would love to hear from you!
If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through to submit a valid application. We’re keen to support you with the next step in your career.
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Advertising End Date: 21/01/2024