The Wales international keeper returned to the club this summer after helping Huddersfield Town clinch promotion to the Premier League during a successful season-long loan.
“It shows he's got faith in what I can bring to the squad," Ward told the Liverpool Echo.
“The more keepers we have got with quality, the better. The manager has talked about us having competition between us which can only be healthy for the squad in general.
“That's our aim every day – to push each other as far as we can because we want Liverpool to have the best goalkeeper that we can potentially give them.
“The manager knows the three boys are more than capable. It's a fight for the No 1, but we'll be helping each other along the way."