About the Company
The Commonwealth Bank of Australia (CBA) is one of Australia’s leading multinational banks, with operations across New Zealand, Asia, the US, and the UK. With a rich history spanning over a century, CBA is committed to providing outstanding financial services to individuals, businesses, and institutions. We pride ourselves on our customer-centric approach, innovative technology, and strong ethical foundations. At CBA, we foster a culture of integrity, collaboration, and continuous improvement, ensuring we not only meet but exceed our regulatory obligations while serving our customers with trust and transparency.
Job Description
As a Regulatory Compliance Officer specializing in Consumer Affairs at Commonwealth Bank, you will play a critical role in ensuring our operations, products, and services adhere to all relevant consumer protection laws, regulations, and industry codes. You will be instrumental in safeguarding our customers’ interests, maintaining our reputation for trustworthiness, and mitigating regulatory risks. This role involves a deep understanding of Australian consumer law, particularly in the financial services sector, and the ability to translate complex regulatory requirements into practical business solutions. You will work collaboratively with various internal teams, providing expert advice and fostering a culture of compliance across the organization.
Key Responsibilities
- Monitor, interpret, and disseminate information on new and evolving consumer protection laws, regulations, and industry codes (e.g., ASIC, ACCC, Banking Code of Practice).
- Conduct regular compliance reviews and risk assessments related to consumer affairs to identify potential areas of non-compliance.
- Develop, implement, and maintain robust compliance policies, procedures, and internal controls aligned with consumer protection requirements.
- Provide timely and accurate regulatory advice and guidance to business units on product development, marketing, customer communications, and complaint handling processes.
- Oversee the effective resolution of consumer complaints, ensuring adherence to regulatory standards and internal policies.
- Develop and deliver comprehensive compliance training programs to employees across various departments.
- Prepare and submit reports to senior management and regulatory bodies on compliance performance and emerging risks.
- Collaborate with legal, risk, audit, and business teams to ensure a consistent and integrated approach to compliance.
- Participate in regulatory inquiries, audits, and investigations, providing necessary documentation and support.
Required Skills
- Proven understanding of Australian consumer law, particularly within the financial services industry.
- Strong analytical and problem-solving skills with meticulous attention to detail.
- Excellent written and verbal communication skills, capable of articulating complex regulatory concepts clearly.
- Ability to interpret and apply complex legal and regulatory frameworks to business operations.
- Proficiency in conducting compliance risk assessments and developing mitigation strategies.
- Demonstrated ability to work independently and collaboratively in a fast-paced environment.
- High level of integrity, ethical conduct, and discretion.
Preferred Qualifications
- Bachelor's degree in Law, Commerce, Business, or a related field.
- Professional certification in Compliance (e.g., GRC, ICA qualifications) is highly regarded.
- Experience engaging with regulatory bodies such as ASIC or ACCC.
- Previous experience in a financial services institution, ideally within a compliance or legal function focusing on consumer affairs.
- Postgraduate qualifications in relevant fields.
Perks & Benefits
- Competitive annual salary and performance-based bonuses.
- Comprehensive superannuation scheme.
- Generous leave entitlements, including parental leave and long service leave.
- Access to a range of employee benefits, including health and wellbeing programs, discounted banking products, and financial advice.
- Extensive professional development and career growth opportunities within a leading financial institution.
- Supportive and inclusive work environment with a focus on diversity.
- Access to flexible work arrangements where appropriate.
- Employee assistance program for personal and professional support.
How to Apply
If you are interested in this position, please click the "Apply Now" button below. To ensure your application is properly considered, please prepare the following:
- An up-to-date Resume or CV
- A brief cover letter summarizing your experience and motivation
Applications are reviewed on a rolling basis. Only shortlisted candidates will be contacted for an interview.
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