Senior Counsel

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 are actively seeking a Senior Counsel for our Variable Products team with sharp analytical and communication skills who is diligent, proactive, collaborative, and has demonstrated excellent legal and business judgment and strategic thinking. This role in the Office of General Counsel will support our Consumer Markets Division.  This role will be hybrid (2-3 days a week in office) in Newport Beach, CA or in Omaha, NE. We will also consider experienced candidates within this practice area on a 100% remote basis if not located near one of our office locations.

As a Senior Counsel you’ll move Pacific Life, and your career, forward by providing legal advice for SEC registered variable life products, and depending on experience, also to private placement life products and SEC registered variable annuities. You'll also provide support to a team of paralegals who prepare registration statements and other regulatory documents. You will fill a new senior role that sits on a team in the Office of the General Counsel and supports the Consumer Markets division. The team currently consists of paralegals/analysts and attorneys.

How you’ll help move us forward:

• Serve as a partner to the Consumer Market Division teams by providing legal guidance and support primarily for variable universal life (“VL”) products.  Depending on your experience, you will eventually provide guidance on variable annuity and private placement insurance products. 
• Draft, review, and file registration statements (prospectuses, summary prospectuses, and statements of additional information) for VL (Form N-6) insurance products, any amendments thereto, and other required filings with the SEC.  Draft and/or review responses to SEC comments. 
• Draft and review offering memorandums for private placement insurance products.  Assist onboarding underlying hedge funds, separate accounts, and prepare subscription agreements.
• Draft, review, and negotiate underlying fund agreements concerning participation, distribution, and administrative services.
• Provide legal review of marketing materials concerning variable products. 
• Monitor, review and interpret relevant securities and insurance laws, rules and regulations and keep clients and colleagues informed of the potential impact on the Company.
• The ideal candidate will also provide advice to an affiliated broker dealer that serves as principal underwriter/distributor of variable products and mutual funds.
• Participate in relevant industry groups as appropriate.
• Other duties as assigned. 

The experience you bring:

• At least 5 years relevant experience with SEC registered variable insurance products as a practicing in-house or law firm attorney.
• Law degree from ABA accredited law school and current bar membership.    
• An understanding of various optional benefits offered from variable universal life products, including accelerated death benefits, no-lapse guarantees, term insurance, LTC and other chronic illness and terminal illness benefits. 
• The ideal candidate will also have an understanding of optional benefits offered through variable annuity products, including withdrawal benefits, accumulation benefits, income benefits, and death benefits.
• Demonstrates high ethical standards. 
• Leadership competencies. 
• Excellent communication and interpersonal skills; adept at prioritizing work and providing advice under deadlines; and a focus on business enablement. 

What makes you stand out:

• Having both variable life and variable annuity experience.
• Prior experience advising a limited purpose broker-dealer that has an advisor desk.
• The successful candidate is motivated, can work independently on projects, work within a team dynamic, and can work with individuals at all levels throughout the organization in a respectful and collaborative manner. 

You can be who you are.

People come first here. We’re committed to a diverse, equitable and inclusive workforce. Learn more about how we create a welcoming work environment through Diversity, Equity, and Inclusion at www.pacificlife.com. 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.