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

📍 Job Overview

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

Company: Pacific Life

Location: Newport Beach, CA; Charlotte, NC; Omaha, NE

Job Type: FULL_TIME

Category: Product Strategy / Operations Leadership

Date Posted: 2026-06-05

Experience Level: 10+ years

Remote Status: Hybrid (4 days in office)

🚀 Role Summary

• Lead the strategic direction and product innovation for Pacific Life's Pension Risk Transfer (PRT) business.

• Drive profitable growth by identifying and closing capability gaps, launching new offerings, and expanding market share.

• Develop and execute a comprehensive long-term strategy for sustained success in the competitive PRT market.

• Serve as a thought leader, enhancing market positioning and influencing industry perception through strategic partnerships and communication.

• Collaborate cross-functionally with actuarial, risk, investments, legal, and operations teams to ensure product marketability, compliance, and scalability.

📝 Enhancement Note: This role is highly strategic, focusing on the end-to-end product lifecycle within the specialized Pension Risk Transfer (PRT) market. The emphasis on "Head of Product Strategy" indicates a leadership position responsible for defining the future of PRT offerings, requiring deep market expertise and strong commercial acumen. The hybrid work model with a significant in-office component suggests a collaborative environment where in-person engagement is valued for strategic discussions and team cohesion.

📈 Primary Responsibilities

• Product Development & Innovation:

  • Design and evolve new and existing PRT products to meet market demands and ensure competitiveness across various plan sizes and segments.
  • Identify and address critical capability gaps within the current product portfolio.
  • Explore and launch adjacent and complementary offerings, such as small market PRT, retiree medical buyouts, retiree life, and asset-intensive structures.
  • Partner closely with actuarial, risk management, investment, legal, and operations teams to ensure products are market-ready, compliant, and operationally scalable.

• Strategy & Market Growth:

  • Define and execute the overarching PRT product strategy to achieve ambitious growth and profitability targets.
  • Lead strategic partnership initiatives to accelerate market penetration and expansion.
  • Continuously monitor competitive positioning, market dynamics, including interest rate trends, longevity assumptions, regulatory changes, and evolving client preferences.
  • Develop sophisticated segmentation and go-to-market strategies to broaden reach across Fortune 500, mid-sized sponsors, and multi-employer plans.
  • Collaborate with distribution teams to craft compelling messaging, collateral, and market positioning that resonates with consultants, plan sponsors, and other key partners.

• Leadership & Influence:

  • Act as a recognized thought leader, representing the firm at industry conferences, panel discussions, and media engagements.

  • Work closely with senior leadership to ensure the PRT strategy aligns seamlessly with Pacific Life's broader retirement and institutional business objectives.

  • Foster an internal culture that champions innovation, disciplined execution, and a client-centric approach to product development and delivery.

📝 Enhancement Note: The responsibilities highlight a dual focus on both strategic foresight and operational execution. The emphasis on "adjacent and complementary offerings" suggests an expansion mandate beyond traditional PRT. The requirement to partner with actuarial, risk, investments, legal, and operations underscores the cross-functional nature of this role and the need for strong collaboration and communication skills to drive complex product initiatives from conception to launch.

🎓 Skills & Qualifications

Education:

• Bachelor's degree in Finance, Economics, Actuarial Science, Business Administration, or a related field.

• Professional certifications such as CFA (Chartered Financial Analyst) or FSA (Fellow of the Society of Actuaries) are highly preferred. Experience:

• Minimum of 10 years of progressive experience in pensions, insurance, asset management, or closely related financial services sectors, with a dedicated focus on Pension Risk Transfer (PRT) or institutional annuities.

• Proven track record of successfully developing and launching innovative financial products, particularly within complex, regulated environments.

• Demonstrated experience in strategic planning, market analysis, and defining long-term product roadmaps.

• Experience navigating and understanding the intricacies of defined benefit plan design, funding methodologies, and risk-transfer mechanics. Required Skills:

• Deep understanding of the U.S. Pension Risk Transfer (PRT) market: Including market dynamics, competitive landscape, and key client needs.

• Product Development & Innovation: Ability to conceptualize, design, and bring to market new financial products and solutions.

• Strategic Planning & Execution: Capability to develop and implement long-term strategies that drive growth and profitability.

• Commercial Acumen: Strong business judgment and ability to identify and capitalize on market opportunities.

• Stakeholder Management & Influence: Exceptional skills in building relationships, influencing cross-functional teams, and engaging with senior leadership.

• Regulatory Landscape: Familiarity with the regulatory environment impacting insurance products and pension plans.

• Defined Benefit Plan Knowledge: Comprehensive understanding of pension plan design, funding, and risk-transfer mechanisms.

Preferred Skills:

• Existing network and relationships with key pension consultants, plan sponsors, and reinsurance partners.

• Experience leading product development within a highly regulated insurance or financial services institution.

• Strong analytical and financial modeling skills to support product viability and pricing.

• Experience with market segmentation and go-to-market strategy development.

• Public speaking and thought leadership capabilities, demonstrated through industry engagements.

📝 Enhancement Note: The preferred skills, particularly existing relationships with consultants and plan sponsors, strongly suggest that this role is expected to hit the ground running in terms of business development and market engagement. The emphasis on CFA or FSA designations further reinforces the technical and analytical rigor expected for this strategic product leadership position.

📊 Process & Systems Portfolio Requirements

Portfolio Essentials:

• Showcase concrete examples of successful product strategy development and product launch initiatives within the financial services or insurance sector.

• Demonstrate a clear understanding of market analysis, competitive intelligence, and the strategic planning process used to identify product opportunities.

• Provide evidence of collaboration with cross-functional teams (e.g., actuarial, legal, operations, distribution) to bring products to market.

• Include case studies or project summaries that highlight the impact of product innovation on market share, revenue growth, and profitability.

• Detail experience in navigating regulatory requirements and ensuring product compliance. Process Documentation:

• Document the process followed for identifying market needs and translating them into product requirements.

• Outline methodologies used for competitive analysis and market sizing within the PRT or institutional annuity space.

• Illustrate the process of working with actuarial and risk teams to assess product feasibility, pricing, and risk.

• Detail workflows for engaging with legal and compliance to ensure regulatory adherence for new product offerings.

• Describe the process of partnering with distribution and marketing to develop go-to-market strategies and collateral.

📝 Enhancement Note: For a "Head of Product Strategy" role, the portfolio should emphasize strategic thinking, market analysis, and successful product execution rather than granular operational process documentation. The focus should be on the strategic framework, market validation, and the business impact of the products developed.

💵 Compensation & Benefits

Salary Range: $220,000 - $270,000 annually (Base Pay)

Benefits:

• Health & Well-being: Comprehensive Medical, Dental, and Vision insurance plans. A Wellbeing Reimbursement Account offers flexibility for personal wellness expenses.

• Time Off: Generous Paid Time Off (PTO), recognized Holiday Schedules, and dedicated Financial Planning Time Off to support work-life balance and personal financial management.

• Family Support: Paid Parental Leave and an Adoption Assistance Program to support employees during significant life events.

• Retirement Savings: A competitive 401k savings plan with a company match, plus an additional company contribution regardless of employee participation, ensuring robust retirement planning support.

Working Hours: Standard full-time hours are expected, likely around 40 hours per week. Given the hybrid nature and leadership responsibilities, flexibility may be required to meet business needs, including occasional extended hours for critical projects or market events.

📝 Enhancement Note: The provided base salary range of $220,000 - $270,000 is highly competitive and aligns with senior leadership roles in specialized financial product strategy in major U.S. markets. The extensive benefits package emphasizes employee well-being, family support, and long-term financial security, which are key attractors for experienced professionals. The mention of "additional incentive pay" suggests a bonus structure tied to performance, likely linked to product success and business growth targets.

🎯 Team & Company Context

🏢 Company Culture

Industry: Financial Services / Insurance (Specializing in retirement solutions and life insurance). Pacific Life operates within a mature and highly regulated industry, emphasizing stability, long-term relationships, and robust risk management.

Company Size: Pacific Life is a large, established organization, indicated by its presence in multiple U.S. locations and its comprehensive benefits package. This size implies a structured environment with established processes, but also opportunities for significant impact due to the scale of operations.

Founded: Pacific Life was founded in 1868, signifying a long history of financial strength and market presence. This longevity suggests a stable, enduring company culture focused on long-term value creation and customer trust.

Team Structure:

• The PRT Product Strategy team likely operates within the broader Institutional or Retirement Solutions division.

• This role reports to a senior executive (e.g., SVP of Institutional Product, Head of Retirement Solutions), indicating a high level of visibility and strategic importance.

• Collaboration is expected with dedicated teams in actuarial, risk, investments, legal, compliance, operations, sales, and marketing, requiring strong matrixed leadership skills. Methodology:

• Data-Driven Decision Making: Pacific Life likely emphasizes data analysis to inform product strategy, market assessment, and financial modeling.

• Disciplined Execution: Given the nature of insurance and financial services, there's a strong focus on rigorous process, risk management, and compliance in product development and rollout.

• Client-Centricity: The company's mission statement and focus on policyholder needs suggest a culture where understanding and serving client requirements is paramount in product design and strategy.

Company Website: https://www.pacificlife.com/

📝 Enhancement Note: Pacific Life's long history and industry position suggest a culture that values stability, integrity, and long-term growth. For a product strategy role, this translates to a need for a methodical, data-informed approach that balances innovation with robust risk management and regulatory compliance. The "hybrid" work model indicates a blend of in-office collaboration and individual focused work.

📈 Career & Growth Analysis

Operations Career Level: This is a senior leadership role, "AVP, Head of Product Strategy," signifying a significant level of responsibility and strategic influence. It sits at the intersection of product management, business development, and market strategy within the specialized PRT domain.

Reporting Structure: The role reports to a senior executive within the Institutional or Retirement Solutions business unit, indicating direct involvement in high-level strategic planning and execution. Direct reports are possible, particularly in areas related to product analysis and market research.

Operations Impact: This role has a direct and substantial impact on revenue generation, market share expansion, and the long-term profitability of Pacific Life's Pension Risk Transfer business. Successful product strategy and execution will be critical to the company's competitive standing and financial performance in this key market segment.

Growth Opportunities:

• Leadership Expansion: Potential to grow into broader leadership roles within the Institutional or Retirement Solutions divisions, overseeing a larger portfolio or multiple product lines.

• Strategic Influence: Opportunity to shape the future direction of Pacific Life's offerings in the institutional and retirement markets, contributing to significant business growth.

• Industry Recognition: Potential to become a recognized expert and thought leader in the PRT and institutional annuity space, enhancing personal and company brand.

• Cross-Functional Development: Exposure to various business functions, including finance, risk, investments, and distribution, fostering a holistic understanding of the business.

📝 Enhancement Note: The "AVP" title combined with "Head of Product Strategy" positions this individual as a key strategic leader. Growth opportunities are likely to involve expanding the scope of responsibilities within Pacific Life's institutional business or potentially moving into P&L ownership for a specific product line or business unit over time.

🌐 Work Environment

Office Type: Hybrid work model, requiring 4 days per week in a designated Pacific Life office (Newport Beach, CA; Charlotte, NC; or Omaha, NE). This structure promotes in-person collaboration, team building, and access to company resources.

Office Location(s):

• Newport Beach, CA: A major hub for Pacific Life, likely offering extensive amenities and a vibrant corporate environment.

• Charlotte, NC: A growing financial services center, offering access to a strong talent pool and a dynamic business community.

• Omaha, NE: Another significant location for Pacific Life, known for its strong financial sector and cost-effective business operations.

Workspace Context:

• Collaborative Environment: The hybrid model is designed to foster collaboration, team synergy, and spontaneous idea exchange, crucial for strategic product development.

• Technology & Resources: Employees will have access to Pacific Life's standard corporate IT infrastructure, including necessary software, hardware, and communication tools to support their roles.

• Team Interaction: Expect regular in-person meetings with the PRT team, other business unit leaders, and cross-functional partners to drive strategic initiatives and operational alignment.

Work Schedule: The primary work schedule will be based on standard business hours, with an expectation of 4 days in the office. Flexibility may be required to accommodate market dynamics, client needs, and project deadlines, particularly in a role that influences a competitive market.

📝 Enhancement Note: The hybrid model is a key element of the work environment, indicating a preference for in-person collaboration while allowing for some flexibility. Candidates should be prepared for regular office presence and engaging in face-to-face strategic discussions and team activities. Relocation assistance is offered, suggesting the company is open to candidates not currently residing near one of the designated office locations.

📄 Application & Portfolio Review Process

Interview Process:

• Initial Screening: A recruiter or HR representative will likely conduct an initial phone screen to assess basic qualifications, salary expectations, and cultural fit.

• Hiring Manager Interview: A detailed discussion with the hiring manager (likely a senior executive) focusing on your experience in PRT, product strategy, leadership capabilities, and strategic vision. Be prepared to discuss your approach to market analysis and product innovation.

• Cross-Functional Interviews: Interviews with key stakeholders from actuarial, risk, investments, legal, operations, and distribution teams. These will assess your ability to collaborate, influence, and understand their respective areas of expertise as they relate to PRT product development.

• Executive Presentation/Case Study: A potential final round may involve a presentation on a strategic topic, a case study related to PRT product development, or a discussion of your portfolio to demonstrate your strategic thinking, market acumen, and communication skills.

• Final Round with Senior Leadership: A meeting with very senior executives to discuss strategic alignment, leadership philosophy, and overall fit within the company's long-term objectives.

Portfolio Review Tips:

• Strategic Focus: Curate examples that clearly demonstrate your strategic thinking, market analysis capabilities, and ability to translate market needs into successful product strategies.

• Quantifiable Impact: Highlight achievements with measurable outcomes. Use data to show how your product initiatives led to increased market share, revenue growth, profitability, or improved client satisfaction in the PRT or institutional annuity space.

• Process & Collaboration: Illustrate your process for product development, from ideation and market validation to cross-functional collaboration and launch. Showcase your ability to work effectively with diverse teams.

• Thought Leadership: Include examples of how you have contributed to industry discussions, developed market insights, or positioned products effectively in a competitive landscape.

• Tailoring: Adapt your portfolio presentation to align with Pacific Life's specific business objectives and the PRT market context.

Challenge Preparation:

• Market Analysis & Strategy: Be prepared to discuss your approach to analyzing the PRT market, identifying trends, and formulating a strategic product roadmap.

• Product Innovation: Prepare to discuss how you would approach developing new PRT offerings or enhancing existing ones to address specific market needs or competitive pressures.

• Cross-Functional Collaboration: Anticipate questions about how you would lead and influence teams across different departments (actuarial, risk, legal, sales) to achieve product development goals.

• Financial Acumen: Be ready to discuss financial modeling, pricing strategies, and profitability analysis related to PRT products.

• Industry Knowledge: Refresh your understanding of current PRT market conditions, regulatory changes, and competitive strategies.

📝 Enhancement Note: Given the strategic nature of this role, expect interview questions to be heavily focused on strategic thinking, market understanding, and leadership. A strong portfolio that demonstrates tangible results and strategic foresight will be crucial for success. The potential for a final presentation or case study suggests the need to prepare a concise and impactful narrative around your accomplishments.

🛠 Tools & Technology Stack

Primary Tools:

• CRM Systems (e.g., Salesforce): For understanding client segmentation, distribution channels, and market outreach strategies. While not a direct user for daily operations, understanding CRM data and its implications for product strategy is key.

• Financial Modeling Software (e.g., Excel, specialized actuarial software): Essential for product pricing, profitability analysis, sensitivity testing, and scenario planning for PRT products.

• Project Management Tools (e.g., Asana, Jira, Monday.com): To manage product development timelines, track progress on initiatives, and coordinate cross-functional efforts.

• Presentation Software (e.g., PowerPoint, Google Slides): For developing strategic proposals, market analyses, and presenting findings to senior leadership and external stakeholders.

Analytics & Reporting:

• Business Intelligence Tools (e.g., Tableau, Power BI): For analyzing market data, sales performance, product adoption rates, and profitability metrics.

• Data Analysis Platforms: Proficiency in analyzing large datasets to identify trends, understand client behavior, and forecast market opportunities.

• Internal Reporting Dashboards: Familiarity with accessing and interpreting company-specific dashboards related to sales performance, product P&L, and market penetration.

CRM & Automation:

• Understanding of CRM functionalities: While not directly managing CRM operations, understanding how CRM data informs product strategy and client segmentation is important.

• Familiarity with Workflow Automation Concepts: Awareness of how automation can streamline product launch processes, client onboarding, and other operational aspects related to product delivery.

📝 Enhancement Note: While this role is strategic, a strong understanding of the underlying tools used for market analysis, financial modeling, and project management is essential. The ability to interpret data from BI tools and understand how CRM data informs product strategy will be critical. Specific "operations" tools are less critical than a strategic understanding of how technology supports product development and market execution.

👥 Team Culture & Values

Operations Values:

• Integrity & Trust: Upholding the highest ethical standards in all product development and market interactions, crucial in the insurance and financial services industry.

• Client-Centricity: A deep commitment to understanding and serving the needs of plan sponsors and institutional clients, ensuring products deliver genuine value.

• Innovation & Adaptability: Fostering a forward-thinking approach to product development, embracing new ideas and adapting to evolving market conditions and regulatory landscapes.

• Disciplined Execution: A commitment to rigorous planning, meticulous execution, and robust risk management in bringing products to market and managing their lifecycle.

• Collaboration & Partnership: Valuing teamwork and strong relationships across all departments to achieve shared goals and drive collective success.

Collaboration Style:

• Cross-Functional Leadership: Expect a collaborative style that involves leading through influence, building consensus, and facilitating communication across diverse teams (actuarial, risk, legal, sales, operations).

• Strategic Alignment: Emphasis on ensuring all product initiatives are aligned with Pacific Life's overall corporate strategy and business objectives.

• Open Communication: Encouraging open dialogue, constructive feedback, and knowledge sharing to foster a dynamic and effective product development environment.

• Data-Informed Dialogue: Engaging in discussions grounded in data analysis and market insights to drive objective decision-making.

📝 Enhancement Note: The company values suggest a culture that is both principled and performance-driven. For a product strategy leader, demonstrating an ability to integrate these values into strategic decisions and team management will be key. The emphasis on collaboration and client-centricity is paramount for success in this role.

⚡ Challenges & Growth Opportunities

Challenges:

• Market Volatility: Navigating the inherent volatility of interest rates, longevity trends, and economic conditions that significantly impact the PRT market.

• Competitive Intensity: Operating in a highly competitive landscape with established players and emerging entrants, requiring continuous innovation and differentiation.

• Regulatory Evolution: Staying abreast of and adapting to evolving regulatory requirements and compliance standards within the insurance and pension industries.

• Balancing Innovation with Risk: Developing new, innovative products while meticulously managing associated risks and ensuring operational scalability.

• Cross-Functional Alignment: Effectively aligning diverse stakeholder interests and priorities across multiple departments to drive product strategy forward.

Learning & Development Opportunities:

• Deepening PRT Expertise: Opportunities to further specialize in niche areas of PRT, such as small market solutions, asset-intensive structures, or specific regulatory frameworks.

• Strategic Leadership Development: Gaining experience in high-level corporate strategy, market expansion, and influencing executive decision-making.

• Industry Engagement: Becoming a recognized voice in the PRT industry through speaking engagements, committee participation, and thought leadership contributions.

• Broader Business Acumen: Expanding understanding of Pacific Life's diverse product lines and business units, potentially leading to broader roles within the organization.

• Mentorship Programs: Access to mentorship from senior leaders within Pacific Life, providing guidance on career progression and strategic development.

📝 Enhancement Note: The challenges presented are inherent to the PRT market and senior strategic roles. The growth opportunities are substantial, offering a clear path for career advancement within a large, stable financial institution, particularly for those who can demonstrate strategic impact and leadership.

💡 Interview Preparation

Strategy Questions:

• "Describe your process for identifying and evaluating new product opportunities in a complex market like Pension Risk Transfer. How do you balance market demand with business viability and risk?"

• "How would you develop a long-term product strategy for Pacific Life's PRT business to ensure sustained competitive advantage and profitable growth over the next 3-5 years?"

• "Walk me through a time you successfully launched a new financial product. What were the key challenges, how did you overcome them, and what was the ultimate business impact?"

• "How do you stay informed about market trends, competitive actions, and regulatory changes that impact the PRT market, and how do you translate this intelligence into actionable product strategies?" Company & Culture Questions:

• "What do you know about Pacific Life's current position in the PRT market, and where do you see opportunities for us to strengthen our offering and market leadership?"

• "How do you foster a culture of innovation and disciplined execution within a product development team, especially when working across multiple departments?"

• "Describe your approach to stakeholder management and influencing senior leadership to gain buy-in for your strategic product initiatives."

• "How would you ensure that new PRT products are not only innovative but also operationally scalable and compliant with all relevant regulations?" Portfolio Presentation Strategy:

• Structure: Organize your portfolio around key strategic achievements, focusing on the problem, your strategic approach, the execution, and the quantifiable results.

• Narrative: Tell a compelling story for each example, highlighting your strategic thinking, leadership, and the tangible impact of your contributions.

• Data Visualization: Use charts and graphs to effectively communicate market analysis, financial projections, and performance metrics.

• Conciseness: Be prepared to present your most impactful examples concisely, allowing time for discussion and questions. Focus on quality over quantity.

• Relevance: Tailor your portfolio examples to emphasize your PRT experience, product strategy expertise, and ability to drive growth in institutional financial services.

📝 Enhancement Note: Expect a rigorous interview process that probes deeply into your strategic thinking, market expertise, and leadership capabilities. The portfolio presentation is a critical component, so ensure it clearly articulates your strategic process and demonstrable impact on business outcomes.

📌 Application Steps

To apply for this operations position:

• Submit your comprehensive application, including your resume and any requested supplementary documents, via the Pacific Life careers portal.

• Tailor Your Resume: Emphasize your experience in pension risk transfer, institutional annuities, product strategy, market analysis, and cross-functional leadership. Quantify achievements with specific metrics related to product launches, market share growth, or profitability improvements.

• Prepare Your Portfolio: Curate a portfolio that showcases 2-3 of your most impactful product strategy or development initiatives. Focus on demonstrating strategic thinking, market analysis, collaboration, and measurable business results. Be ready to discuss these in detail.

• Research Pacific Life & PRT Market: Thoroughly research Pacific Life's current offerings, market position, and its strategic goals within the institutional and retirement solutions space. Understand the current landscape of the U.S. PRT market, key trends, and competitive dynamics.

• Practice Your Narrative: Prepare to articulate your strategic vision, leadership philosophy, and how your experience aligns with the requirements of the AVP, Head of Product Strategy role. Practice explaining complex concepts clearly and concisely.

⚠️ Important Notice: This enhanced job description includes AI-generated insights and operations industry-standard assumptions. All details should be verified directly with the hiring organization before making application decisions.