Actuary & Director - Annuity Product Innovation

Job Summary

The Actuary & Director of Annuity Product Innovation plays a crucial role in driving innovation and strategic product development within Pacific Life. This position requires a strong background in annuity product development, with a focus on competitive pricing, market-driven solutions, and strategic alignment with broader business goals.

About the Role

This role is based in Newport Beach, CA, Omaha, NE, or Charlotte, NC, with a hybrid schedule of 4 days on-site and 1 day remote. Comprehensive relocation assistance is provided for those not currently located near an office.

Responsibilities

• Lead the design and pricing of innovative annuity products that are competitive and attractive in the marketplace.
• Provide actuarial solutions to challenges encountered in annuity product development during the research, development, and viability phases.
• Educate financial professionals and clients about annuity features, benefits, risks, and retirement income trade-offs.
• Ensure that the annuity product development process aligns with divisional and enterprise product, capital, and risk management strategies.
• Collect and analyze feedback on existing annuity products, market trends, and unmet customer needs to identify opportunities for enhancements or new offerings.
• Identify key risks, hedging considerations, and option trade-offs inherent in annuity designs to support sound decision-making.
• Communicate clearly and proactively with stakeholders throughout early development stages to avoid late-stage issues or misalignment.
• Provide technical support to implementation teams, including IT, Compliance, Marketing, and Operations, as needed.

Requirements

• 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.

Qualifications

• 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.

Benefits

• Prioritization of your health and well-being including Medical, Dental, Vision, and Wellbeing Reimbursement Account.
• 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.
• A competitive 401k savings plan with company match and an additional contribution regardless of participation.

Pay

• Newport Beach, CA: $203,760 - $249,040
• Omaha, NE: $175,950 - $215,050
• Charlotte, NC: $185,220 - $226,380