Actuary & Director - Annuity Product Innovation

Job Description:

Providing for loved ones, planning rewarding retirements, saving enough for whatever lies ahead – our policyholders count on us to be there when it matters most. It’s a big ask, but it’s one that we have the power to deliver when we work together. We collaborate and innovate – pushing one another to transform not just Pacific Life, but the entire industry for the better. Why? Because it’s the right thing to do. Pacific Life is more than a job; it’s a career with purpose. It’s a career where you have the support, balance, and resources to make a positive impact on the future – including your own.

We’re actively seeking a talented Actuary & Director of Annuity Product Innovation to join our Research and Development team. This role is on-site 4 days per week and work from home 1 day per week in Newport Beach, CA, Omaha, NE, or Charlotte, NC. If you are not currently located near one of our offices, we offer comprehensive relocation assistance.

As an Actuary & Director of Annuity Product Innovation, you will move Pacific Life, and your career, forward by researching, testing, and developing innovative and market-driven annuity products and offerings. You will collaborate with stakeholders, both externally and across various Pacific Life departments, to develop product solutions that address key customer retirement income needs and meet pricing, profitability, and risk targets.

How You’ll Help Move Us Forward:

• Drive Product Research and Pricing Projects: Lead the design and pricing of innovative annuity products that are competitive and attractive in the marketplace.

• Lead R&D Phase: Serve as the lead actuary during the research, development, and viability phases, providing actuarial solutions to challenges encountered in annuity product development.

• Educational Materials Development: Actively participate in creating educational materials and tools for financial professionals and clients to clearly explain annuity features, benefits, risks, and retirement income trade-offs.

• Ensure Strategic Alignment: Ensure the annuity product development process aligns with divisional and enterprise product, capital, and risk management strategies.

• Feedback Collection and Analysis: Collect and analyze feedback on existing annuity products, market trends, and unmet customer needs to identify opportunities for enhancements or new offerings.

• Risk Identification: Identify key risks, hedging considerations, and option trade-offs inherent in annuity designs to support sound decision-making.

• Stakeholder Communication: Communicate clearly and proactively with stakeholders throughout early development stages to avoid late-stage issues or misalignment.

• Technical Support: Provide technical support to implementation teams, including IT, Compliance, Marketing, and Operations, as needed

The Experience You Bring:

• 8+ years of experience with a focus on product development

• FSA designation.

• Proven track record of delivering innovative, strategic solutions to market.

• Strong project leadership, collaboration, and cross-functional influence skills.

• Exceptional analytical, strategic thinking, and problem-solving abilities.

• In-depth knowledge of economic, regulatory, and market factors impacting products.

• Excellent communication and presentation skills.

• Ability to thrive in a fast-paced, dynamic environment.

• Extensive actuarial modeling experience and ability to review model results.

What Will Make You Stand Out:

• Active involvement in industry organizations, publications, or speaking engagements related to annuities or retirement income.

• Demonstrated commitment to staying current with industry trends, emerging technologies, and best practices in annuities and financial services.

Salary Ranges per Location:

• Newport Beach, CA: $203,760 - $249,040

• Omaha, NE: $175,950 - $215,050

• Charlotte, NC: $185,220 - $226,380

Base Pay Range:

The base pay range noted represents the company’s good faith minimum and maximum range for this role at the time of posting. The actual compensation offered to a candidate will be dependent upon several factors, including but not limited to experience, qualifications and geographic location. Also, most employees are eligible for additional incentive pay.

$203,760.00 - $249,040.00

Your Benefits Start Day 1
 

Your wellbeing is important to Pacific Life, and we’re committed to providing you with flexible benefits that you can tailor to meet your needs. Whether you are focusing on your physical, financial, emotional, or social wellbeing, we’ve got you covered.

• Prioritization of your health and well-being including Medical, Dental, Vision, and Wellbeing Reimbursement Account that can be used on yourself or your eligible dependents

• Generous paid time off options including: Paid Time Off, Holiday Schedules, and Financial Planning Time Off

• Paid Parental Leave as well as an Adoption Assistance Program

• Competitive 401k savings plan with company match and an additional contribution regardless of participation

You Can Be Who You Are

We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.

What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife

EEO Statement:

Pacific Life Insurance Company is an Equal Opportunity /Affirmative Action Employer, M/F/D/V. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at Pacific Life Insurance Company.