AVP, Head of Product Strategy - Pension Risk Transfer (PRT)

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 seeking a Head of Product Strategy for Pension Risk Transfer (PRT) to join our team in Newport Beach, CA, Charlotte, NC, or Omaha, NE. This role follows a hybrid schedule of four days in the office (on-site). If you are not currently located near one of our offices, we offer comprehensive relocation assistance.
 

You will lead product development and innovation for the firm’s pension risk transfer business. You will identify and close capability gaps, launch new offerings to expand market share, and establish a long-term strategy to ensure sustained, profitable growth in a highly competitive and evolving marketplace. This role will also play an important role in developing market positioning and thought leadership to enhance standing in the market.

You have a deep understanding of the U.S. pension risk transfer market, regulatory landscape, and institutional client needs. You have experience combining product development expertise with strategic vision, strong commercial acumen, and the ability to influence cross-functional teams to deliver results.

Key Responsibilities

Product Development & Innovation

• Design new products and evolve current offering

• Identify and address capability gaps in the current product set to ensure competitiveness across target plan sizes and segments

• Explore and deliver adjacent and complementary offerings (e.g., small market, retiree medical buyouts, retiree life, asset-intensive structures)

• Partner with actuarial, risk, investments, legal, and operations to ensure products are market-ready, compliant, and operationally scalable

Strategy & Market Growth

• Lead strategic partnership strategies to accelerate growth in targeted markets

• Define and execute the PRT product strategy to achieve growth and profitability targets

• Monitor competitive positioning and market dynamics, including interest rates, longevity trends, regulatory developments, and client preferences

• Develop segmentation and go-to-market strategies to expand reach across Fortune 500, mid-sized sponsors, and multi-employer plans

• Partner with distribution to build messaging, collateral, and positioning that resonate with consultants, plan sponsors, and other partners

Leadership & Influence

• Serve as a thought leader internally and externally, representing the firm at industry conferences, panels, and media engagements

• Collaborate closely with senior leadership to align PRT strategy with the firm’s broader retirement and institutional businesses

• Foster a culture of innovation, disciplined execution, and client-centricity

Qualifications

Required:

• 10+ years of experience in pensions, insurance, asset management, or related fields with a focus on PRT or institutional annuities

• Strong knowledge of defined benefit plan design, funding, and risk-transfer mechanics

• Demonstrated track record of product innovation and strategic planning

• Exceptional leadership, communication, and stakeholder management skills

Preferred:

• CFA, or FSA designation

• Experience leading product development in a regulated insurance or financial services environment

• Existing relationships with pension consultants, plan sponsors, and reinsurers

Success Measures

• Launch of new product offerings that expand market opportunity and competitiveness.

• Achievement of annual growth and profitability targets in the PRT business.

• Recognition as a market leader and innovator in the pension risk transfer space.

• Improved consultant and plan sponsor perception of the firm as a top-tier PRT provider.

Base Salary Range: $220,000 - $270,000

Base Pay Range:

The base pay range noted represents the company’s good faith minimum and maximum range for this role at the ti