Director - Defined Contribution Lifetime Income Product

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 Director to join our Defined Contribution Lifetime Income team in Newport Beach, CA or Omaha, NE (preferred locations, and relocation assistance may be provided). Qualified remote candidates will also be considered.

As the Director, you’ll play a key role in Pacific Life’s growth and long-term success by leading efforts to implement innovative Defined Contribution Lifetime Income product initiatives and providing both strategic and tactical leadership.

How you will make an impact:

Fixed Product Development, Implementation, & Stakeholder Engagement (50%)

• Lead the team responsible for DCLI Fixed Products, including developing products and defining product features, as well as scheduling, sequencing, and allocating resources to ensure seamless execution and implementation of our retirement income solutions.

• Oversee and partner with key division and enterprise functions such as Delivery Acceleration, Compliance, Marketing, Operations and Technology to prioritize product initiatives.

• Responsible for the design, build, and maintenance of Fixed Product solutions with a strong understanding of market dynamics, regulatory requirements, and competitive landscape.

• Ensure that Fixed Product development efforts are aligned with potential customer value and speed to market, maintaining close collaboration across the Division and Enterprise to enhance process efficiency and optimize outcomes.

• Oversee the delivery of Fixed Products and features in accordance with agreed-upon schedules, ensuring they meet customer needs and business objectives, and ensuring alignment with strategic and business objectives, as well as compliance considerations.

• Work to align resources, address implementation challenges, and manage the internal landscape, ensuring that the Fixed product goals are met in a timely and efficient manner.

• Collaborate closely with Pricing team to design and evaluate innovative insurance products and pricing strategies that align with market trends and customer needs for Fixed products.

• Drive creation of technical specifications for admin and illustration systems and perform user-acceptance testing to ensure accurate implementation for Fixed products.

DCLI Market Development (50%)

• In collaboration with DC Strategist, support general retirement and DCLI market research efforts done by research and product managers while staying on top of industry trends.

• Maintain strong relationships with National Markets to support distribution efforts (including conducting meetings with potential Strategic Partners) and ensure the product is connected to market needs.

• In partnership with Finance, develop cost-benefit analyses for new product development in partnership with other Product Managers.

• Provide retirement and DCLI market insights and customer analytics to inform research, marketing, distribution and pricing.

• Serve as a trusted advisor to the Head of Defined Contribution Lifetime Income on issues affecting strategic decisions and support counsel to the team on matters related to product development and delivery.

About you:

• Strong organizational, interpersonal and communication skills. 

• Ability to travel 25-50% of the time across the US to attend events/conferences to network with various market participants and promote Pacific Life.

• Highly skilled with envisioning future state operating models and when comparing to the current state and designing the roadmap of initiatives to close the gap between the current and target future state.

• Extensive experience in methods and tools for process improvement/efficiency, control enhancement, requirements for enabling technology and data, designing the organization of the future.

• Excellent analytical and problem-solving skills, with the ability to interpret complex data, understand anomalies, and develop actionable insights.  

• Excellent written and verbal communication skills, including the ability to prepare effective and concise work-product and present effectively to senior audiences and influence decision-making

• Strong networking and listening abilities to identify attractive market opportunities in light of learning potential clients’ needs, wants, ideas.

• Ability to adapt to changing demands and influence, partner and collaborate with divisional stakeholders and senior members of the firm.

• Solution-oriented, self-motivated, creative and thrives in “growth mindset” environment

The experience you bring:

• Bachelor’s degree in marketing, business, or a similar field.

• Experience in financial services industry with a focus on product, strategy, and/or business development roles

• Extensive knowledge of the Defined Contribution market.

• Experience in Group Retirement and/or Individual Annuity market.

• Deep experience in product development and/or product delivery.

• Demonstrated ability to lead and grow team members.

What makes you stand out:

• Deep knowledge of DC plans, lifetime income product types and competitor landscape.

• Individual annuity product experience (VA, GLWB, FIA, SPIA/DIA, RILA).

• Up-to-date with DCLI industry trends, emerging technologies and regulatory changes that impact the insurance landscape.

• Experience with retirement plan advisors, plan sponsors and plan administrators, asset managers and managed advice providers.

• Strong interpersonal skills and the ability to navigate ambiguity.

• Excellent leadership skills and ability to motivate and inspire others.

• An agile mindset and the ability to demonstrate results in a start-up environment

• Strong presentation skills (particularly external facing)

• Advanced certifications or industry licensing (ASA, FSA, EA, CFA, MBA , etc.)

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

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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.