atlas12 - competition will be tough, as it is for any decent job these days. This has very little to do with the amount of jet hours you have, number of type ratings you have, if you are a checker or trainer, or exceed the minimum requirements. The role is that of a second officer.
Most important will be that you are the right fit for Qantas. They know you can fly, you have a licence that says so, especially the back seat. Who you are as a person is where the focus will be. Online psych profiling, video interviews, and face to face behavioural interviews will no doubt be a major feature. All the best!