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Pacific Life Insurance Company

Pacific Life Insurance Company

Actuary & Director - Annuity Product Innovation

Actuary & Director - Annuity Product Innovation

Job Details
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Uploaded On
October 8, 2023
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Location
Newport Beach, United States
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Remote?
No
Company Overview
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Headquarters
Newport Beach, CA
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Number of Employees
3000
Estimated Number of Actuaries
204
Salary
$
168
k-$
210
k
Glassdoor Ratings
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Recommend to a Friend
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Overall Score
[ Job Description:

Pacific Life is investing in bright, agile, and diverse talent to contribute to our mission of innovating our business and creating a superior customer experience. We're actively seeking a talented Director and Actuary of Annuity Product Innovation to join our Consumer Markets Division Product Design team in Newport Beach, CA, or Omaha, NE. This role can be on-site, hybrid, or 100% remote.

As a Director & Actuary of Annuity Product Innovation, you'll play a key role in Pacific Life's growth and long-term success by researching, testing and developing innovative and market-driven annuity products and offerings. You will collaborate with stakeholders, both externally and across the various Pacific Life departments, to develop product solutions that address key customer needs and that meet pricing and risk targets.

How you will make an impact:

  • Lead the development of innovative annuity product ideas, features, and offerings that meet the evolving needs of our customers.
  • Stay on top of external factors including consumer behaviors, competition via competitive analysis, and macroeconomic/regulatory changes, and use this insight to guide product development.
  • Exemplify and support a culture of innovation that enables outside-the-box thinking and inclusiveness within the team, promoting creative problem-solving and idea generation.


  • Utilize 'Design Thinking' principles to address consumer needs and coverage gaps, ensuring that our products are tailored to meet the unique requirements of our customers.
  • Influence the division's Go-To-Market strategy and work closely with other Strategy and Innovation teams to align product development with broader organizational goals.
  • Assist in research on capital and reserve optimization, participate in internal risk reviews for new products and features, and collaborate on risk mitigation and hedging strategies.


  • Research and understand the impact of accounting framework changes on competitiveness in the annuities market.
  • Collaborate with pricing teams to resolve product development issues and ensure pricing decisions are aligned with customer needs.


The experience you will bring:

  • 8 or more years' experience with a focus on annuity product development
  • FSA or equivalent
  • Proven track record of bringing innovative and strategic product solutions to market.


  • Strong project leadership/management, and collaboration skills.
  • Exceptional analytical and strategic thinking abilities.
  • In-depth knowledge of the economic, industry, and regulatory factors shaping annuity products.
  • Excellent communication and presentation skills.


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


What will make you stand out:

  • Active involvement in industry organizations, publications, or speaking engagements that showcase your expertise and influence in the annuity sector.


  • Demonstrated commitment to staying current with industry trends, emerging technologies, and best practices related to annuity products and financial services.


If you are a forward-thinking leader with a passion for innovation and a deep understanding of annuity products, we invite you to apply for the Director and Actuary - Annuity Product Innovation role at Pacific Life. Join us in shaping the future of financial security for our clients.

Want to learn more about life at Pacific Life? Take an inside look at our company culture: Instagram.com/lifeatpacificlife.

#LI-TM1 #LI-Hybrid

Base Pay Range:

The base pay range noted provides a basis to determine the appropriate offer dependent upon several factors including but not limited to geographic location, experience, skills, education and pay equity. Also, most employees are eligible for additional incentive pay.

$168,200.00 - $210,200.00 - $294,300.00

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


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. ]
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Working at 

Pacific Life Insurance Company

Pacific Life Insurance Company is a reputable and long-standing provider of life insurance, annuities, and investment solutions. With a rich history spanning over 150 years, Pacific Life has established itself as a trusted name in the industry, known for its financial strength and stability. Actuaries play a crucial role at Pacific Life, utilizing their expertise in risk assessment and management to develop innovative and competitive products. They analyze vast amounts of data, conduct in-depth calculations, and employ advanced statistical models to determine appropriate pricing and risk levels for insurance and investment offerings. Actuaries collaborate closely with cross-functional teams, including underwriters and product managers, to ensure the company's products meet the needs of its diverse customer base. Pacific Life recognizes the value of continuous professional development and supports its actuaries in pursuing actuarial exams and further enhancing their skills. Through comprehensive training programs, mentorship opportunities, and access to industry seminars, actuaries at Pacific Life can stay at the forefront of the field and expand their knowledge. Joining Pacific Life as an actuary means becoming part of a dynamic and inclusive work environment, dedicated to innovation and excellence. Actuaries can expect competitive compensation packages, comprehensive benefits, and a supportive culture that values work-life balance. By joining Pacific Life, actuaries have the opportunity to make a meaningful impact in the lives of individuals and families by helping them secure their financial future with reliable insurance and investment solutions.