Head of Product

Community First; Australia; Remote; AUD 180,000 - 240,000; Full time

Job summary

Community First Bank is seeking a Head of Product to lead the portfolio strategy, pricing and governance in a customer-centric, regulated banking environment.

You will oversee the product lifecycle, collaborate with cross-functional teams and ensure sustainable commercial outcomes while maintaining compliance across advised markets.

Qualifications

• Senior-level product management or leadership experience.
• Strong knowledge of financial services regulation, compliance, risk and product governance.
• Relevant degree in business, commerce or finance; postgraduate qualifications are a plus.

Responsibilities

• Develop the Bank's product strategy aligned with corporate strategy, customer needs, risk appetite and priorities.
• Lead the development and execution of a clear, prioritised product roadmap across the Bank's portfolio.
• Oversee end-to-end product lifecycle: development, launch, optimisation, review and retirement.
• Ensure the product portfolio remains competitive, relevant, sustainable and aligned to target markets.
• Identify opportunities to simplify, enhance or rationalise products based on customer needs and market trends.
• Provide strategic product advice to the Executive Leadership Team and governance forums.
• Champion a customer-led approach to product strategy and development.
• Use insights to identify opportunities and drive continuous product improvement.

Skills

Senior-level product leadership

Pricing strategy

Cross-functional collaboration

Education

Relevant tertiary qualification in Business/Commerce/Finance

Postgraduate qualification in Business/Finance/Management

Job description

Community First Bank is one of Australia's leading customer-owned banks, proudly serving members and communities since 1959. With more than 80,000 members, over $2.4 billion in assets, and a strong presence across Sydney, the Illawarra, Sutherland Shire, Western Sydney and the Hunter region, Community First Bank is built on a simple philosophy: people helping people. As a member-owned organisation, we reinvest in delivering exceptional service, competitive products, and meaningful community support rather than generating profits for external shareholders. Our purpose is to help our members achieve their financial goals through trusted relationships, innovation, and a genuine commitment to the communities where we live and work.

About the role

Community First Bank is a customer-owned bank with a strong purpose of helping Australians achieve their financial goals while contributing to the communities in which they operate. The Head of Product will play a critical leadership role in delivering on this purpose by ensuring the bank's products remain competitive, relevant, simple and valuable for customers, while supporting sustainable growth and strong commercial outcomes. The role will provide strong product leadership in an increasingly regulated and complex banking environment, ensuring products remainfit for purpose, competitively positioned, commercially sustainable and compliant with applicable laws, regulations and regulatory expectations.

The role has three direct reports, including two Product Managers and a Product Coordinator. The role is also responsible for overseeingproduct change, ensuring changes are appropriately assessed, prioritised, governed and implemented. This includes changes to product features, terms and conditions,interest rates, fees and charges, as well as changes arising from regulatory, market, customer or commercial requirements. The Head of Product will ensure product changes are supported by appropriate analysis and consultation, with consideration given to customer outcomes, commercial impacts, operational requirements, risk, compliance and regulatory obligations.

What you'll do

• Develop the Bank's product strategy, ensuring alignment with the broader corporate strategy, customer needs, risk appetite and strategic priorities.
• Lead the development and execution of a clear, prioritised product roadmap across the Bank's portfolio.
• Oversee the end-to-end product lifecycle, including product development, launch, optimisation, review and retirement.
• Ensure the product portfolio remains competitive, relevant, sustainable and aligned to the Bank's target markets and strategic objectives.
• Identify opportunities to simplify, enhance or rationalise products based on customer needs, market trends, portfolio performance and strategic fit.
• Provide strategic product advice and recommendations to the Executive Leadership Team and relevant governance forums.

Customer & Proposition

• Champion a customer-led approach to product strategy and development, ensuring products deliver meaningful and sustainable value to customers.
• Use customer insights, research, data, market intelligence and frontline feedback to identify product opportunities and areas for improvement.
• Ensure product propositions is simple, transparent, accessible and aligned to customer needs and expectations.
• Partner with Member Experience, Marketing and Distribution to ensure product propositions are clearly articulated and effectively brought to market.
• Monitor customer outcomes and use insights to drive continuous product improvement.

Commercial Performance & Pricing

• Influence and drive product portfolio performance, balancing growth, revenue, margin, profitability, customer acquisition and retention with customer outcomes, risk and the Bank's strategic objectives.
• Establish and monitor appropriate product performance measures, dashboards and reporting.
• Lead the development of product pricing recommendations, supported by robust analysis of market conditions, customer impacts, competitor positioning and the Bank's strategic objectives.
• Prepare and present pricing recommendations to the Assets & Liabilities Committee (ALCO) for consideration and vote, recognising that all product pricing decisions are subject to ALCO approval.
• Develop pricing recommendations that balance financial performance, customer value, risk appetite and regulatory obligations, informed by liquidity and funding considerations provided by Finance.
• Monitor the impact of approved pricing decisions and recommend further changes where required.
• Identify opportunities to improve product economics, customer engagement and share of wallet.
• Develop robust business cases and recommendations for significant product investment, change or innovation.
• Lead the identification, assessment and prioritisation of new product opportunities and material product changes .
• Establish disciplined product discovery and development practices, ensuring customer needs, evidence and commercial analysis inform product recommendations and prioritisation.
• Develop and present business cases and recommendations for new products and material product changes to the appropriate governance forums.
• Ensure all material product changes are presented to the Assets & Liabilities Committee (ALCO) for consideration

Qualifications

1. Relevant tertiary qualification in Business, Commerce, Finance or a related discipline.

2. Senior-level product management or product leadership experience

3. Strong knowledge of financial services regulation, compliance, risk and product governance.

1. Postgraduate qualification in Business, Finance, Management or a related discipline.

2. Experience within banking and financial services

3. Relevant professional qualifications in risk, governance, compliance or financial services.