Commonwealth Bank of Australia

Do work that matters

The Product Development Team forms part of the Platform & Investment Product team within CFS. This team has responsibility for designing, developing and enhancing the wrap platform, monitoring performance and profitability of Wrap products, product development and design, and for project managing any new initiatives and enhancements. In addition, the team manage relationships with external suppliers, act as product owner in the Value Streams for the Wrap Platform and provide technical, competitor and product information to other parts of the business,

As Product Development Manager within the Wrap Product team, you will play a vital role in supporting the delivery of key strategic initiatives. Helping to design and deliver product development for the products offered by CFS, you will look to understand, prioritise and deliver product development that will best meet customer needs and business objective. This will also require you to Influence stakeholders as it relates to development of products and solutions for customers.

See yourself in our team:

This role, based in either our Hawthorn East or Sydney CBD offices, will require you to be a key product contact point on projects and support the value streams. You may also be required to lead a specific development as product owner, or provide support to the Senior Manager, Wrap Product Development for larger initiatives and will contribute to the strategic and tactical plans for the wrap business.

Other key responsibilities will include:

• Managing assigned responsibilities relating to specific projects with concept papers, product specifications, and working with the technology teams to deliver features on the platform.
• Providing a strong customer centric design approach on all projects to lead to better customer outcomes.
• Acquiring a strong understanding of the Group’s Risk Appetite Statement and apply this overly to all aspects of product management.
• Providing input into Board, Committee and Management papers for product development proposals.
• Analysis of the market and competitor products relative to our own to identify new opportunities.
• Review and monitor product profitability.

We’re interested in hearing from people who have the following background:

To be successful in this role you will need to have a strong knowledge of wrap platforms, CFS products and business and the wider product landscape. You should possess a good understanding of the strategic issues for Wrap businesses and be able to use this knowledge to drive tactical initiatives. With 3+ years work experience within the wealth management sector, you will have good technical knowledge relevant to the superannuation and investments industry (i.e. legal, tax, product and financial concepts).

In addition, you will also have:

• A relevant Business, Economics or financial services related degree qualification.
• The ability to develop and maintain relationships across the business and to influence senior stakeholders across our wider business.
• The ability to work well within a team, sharing ideas and information and seeking others’ input and opinions.
• Strong presentation and project management skills.
• Strong problem solving skills, numerical and analytical skills.
• The ability to make effective decisions considering stakeholders, regulatory requirements and the competitive environment.

CBA has entered into an agreement with KKR to sell a 55% interest in its CFS superannuation and investments business for total cash consideration of $1.7billion (implying a total valuation of $3.3billion). CBA will retain a 45% shareholding in CFS.

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies.

The sale is expected to complete in the second half of 2021. As this is a role to work in the CFS business, the successful candidate will initially be employed by the CBA Group but on sale completion, their employment will transfer to a new entity that will employ the CFS business employees from completion.

If you're already part of the Commonwealth Bank Group (including Bankwest), you'll need to apply through Sidekick 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: 14/07/2021