Actuary & Director - Annuity Product Innovation

Pacific Life; Newport Beach (CA); On-site; USD 203,760 - 249,040; Full time

Benefits offered by this job

Medical, Dental, Vision benefits

Generous paid time off

Paid Parental Leave

Competitive 401(k) savings plan

Job summary

Pacific Life is seeking an Actuary & Director of Annuity Product Innovation to lead innovative annuity product development. This role involves driving product research, pricing projects, and ensuring strategic alignment with company goals. Candidates should have over 8 years of experience, an FSA designation, and strong analytical and communication skills. The position offers a competitive salary with flexible benefits including health and 401(k) plans. Work location is primarily on-site in Newport Beach, CA, with remote options available.

Qualifications

• 8+ years of experience with a focus on annuity product development.
• Proven track record of delivering strategic annuity solutions.
• Exceptional analytical and problem-solving abilities.

Responsibilities

• Lead the design and pricing of innovative annuity products.
• Serve as the lead actuary during product development phases.
• Communicate clearly with stakeholders throughout development.

Skills

Annuity product development

Project leadership

Analytical skills

Communication skills

Education

FSA designation

Job description

Actuary & Director of Annuity Product Innovation

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 annuity product development
• FSA designation
• Proven track record of delivering innovative, strategic annuity 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 annuity products and retirement income solutions.
• 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.

Compensation and Benefits

Base Pay Range: $203,760.00 – $249,040.00

Benefits start day 1. Your wellbeing is important; we offer flexible benefits that you can tailor to meet your needs, including:

• Prioritization of your health and well‑being, including Medical, Dental, Vision, and Well‑being Reimbursement Account for you or eligible dependents.
• Generous paid time off options, including Paid Time Off, Holiday Schedules, and Financial Planning Time Off.
• Paid Parental Leave and Adoption Assistance Program.
• Competitive 401(k) savings plan with company match and an additional contribution regardless of participation.

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.