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 Vice President, Head of Pension Risk Transfer Pricing to join our Institutional Division in Newport Beach, CA. This role can either be remote or hybrid (3 days in the office, 2 days from home).
As the VP, Head of Pension Risk Transfer (PRT) Pricing, you will play a key role in Pacific Life's growth and long-term success by leading the PRT pricing team to design, price and implement retirement income products to support the Institutional Division's product strategies. This position will report to the SVP & CFO of the Institutional Division.
How you’ll help move us forward:
Strategic Initiatives
-- Oversee all pricing strategies for the PRT product line, ensuring alignment with long-term financial objectives.
-- Drive and implement pricing strategies that enhance profitability and mitigate risk.
-- Drive new product innovations, build pricing team capabilities and optimize ROI to achieve growth objectives for the PRT product line.
Innovation and Infrastructure Development
-- Execute transaction pricing and develop pricing infrastructure, fostering innovation.
-- Scale and drive continuous improvement in the pricing process.
-- Ensure effective controls are in place to achieve priced-for returns.
Collaboration and Relationship Building
-- Partner with the Head of PRT in the development and execution of PRT strategy.
-- Partner with Enterprise Model Development as needed to support pricing initiatives.
-- Partner with Enterprise Valuation to transition placed business from pricing to valuation.
-- Support development of product strategy for new DCLI markets as necessary.
Leadership and Influence
-- Lead and develop team of 10-15 actuaries, guiding them in strategic pricing efforts.
-- Build and maintain high credibility with internal and external partners.
-- Support strategic Enterprise projects as necessary (e.g., Project Blue, Affiliate Reinsurance, LDTI).
The experience you bring:
• Fellow of the Society of Actuaries (FSA)
• 15+ years of experience across diverse actuarial functions and products
• Deep knowledge of the PRT product line
• Extensive knowledge of pricing, valuation, risk management, and model development within the industry
• Product experience across a diversity of products, with a preference for experience with fixed annuities, variable annuities, stable value, funding agreements, and PRT
• Strong leadership in engaging, organizing and developing a large team of actuaries
• Demonstrated readiness to embrace change and challenge the status quo as appropriate
• Demonstrated ability to positively influence operating results to help enable management to meet their objectives. This individual should demonstrate willingness to immerse self in business operations.
You can be who you are.
People come first here. We’re committed to a diverse, equitable and inclusive workforce. Learn more about how we create a welcoming work environment through Diversity, Equity, and Inclusion at www.pacificlife.com. What’s life like at Pacific Life? Visit Instagram.com/lifeatpacificlife.
Benefits start Day 1.
Your wellbeing is important. We’re committed to providing 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 a 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.
Compensation:
Base salary $235,000 - $300,700 plus annual and long term incentives.
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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.
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
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.
