AVP, Head of Product Strategy - Pension Risk Transfer (PRT)
About The Position
Pacific Life is seeking a Head of Product Strategy for Pension Risk Transfer (PRT) to join our team. This role follows a hybrid schedule of four days in the office (on-site). The position will lead product development and innovation for the firm’s pension risk transfer business. Responsibilities include identifying and closing capability gaps, launching new offerings to expand market share, and establishing a long-term strategy for sustained, profitable growth. The role also involves developing market positioning and thought leadership. A deep understanding of the U.S. pension risk transfer market, regulatory landscape, and institutional client needs is essential, along with experience in product development, strategic vision, commercial acumen, and influencing cross-functional teams.
Requirements
- 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.
Nice To Haves
- 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.
Responsibilities
- Design new products and evolve current offerings.
- 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.
- 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.
- 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.
Benefits
- Medical, Dental, Vision
- Wellbeing Reimbursement Account
- Generous paid time off options including: Paid Time Off, Holiday Schedules, and Financial Planning Time Off
- Paid Parental Leave
- Adoption Assistance Program
- Competitive 401k savings plan with company match and an additional contribution regardless of participation
- Comprehensive relocation assistance
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
No Education Listed
