Director of Payments and Operational Strategy

First Interstate; Billings (MT); On-site; USD 211,000 - 347,000; Full time

Benefits offered by this job

PTO + federal holidays

Student debt repayment program

401(k) with 6% match

Community involvement

Job summary

First Interstate Bank is seeking a Director of Payments and Operational Strategy to lead payments and fraud risk management, reporting to the COO. The role shapes strategy, governance, and prioritization across faster payments, cards, ACH, wires, and ATM services, while driving efficiency and controls.

You will partner with executive leadership to deliver scalable solutions, analytics, and measurable business results across multiple lines of business with a focus on client experience.

Qualifications

• Significant leadership experience in payments, fraud, banking, or related fields.
• Strong knowledge of faster payments, card networks, ACH, wires, and ATM operations.
• Expertise in payment fraud risk management, analytics, and controls.
• Proven ability to develop strategy, manage complex initiatives, and drive results.

Responsibilities

• Develops enterprise strategies and multi-year roadmaps for Payments and Payment Fraud Risk.
• Leads modernization of faster payments, cards, ACH, wires, and ATM capabilities.
• Establishes governance, policies, metrics, and reporting for payment services and risk management.
• Oversees analytics, risk indicators, loss prevention, and board reporting.
• Partners with COO on enterprise initiatives, process improvements, and automation.

Skills

Leadership experience

Payments knowledge

Regulatory & risk

Vendor management

Strategic planning

Data analysis

Education

Bachelor’s Degree

Master’s Degree

Banking school

Job description

This position may be located in Billings, MT or Denver, CO.

What’s Important to You

We know your career is just one aspect of a meaningful, complex, and demanding life. That’s why we designed our compensation and benefits package to provide employees and their families with as much choice as possible.

• Generous Paid Time Off (PTO) in addition to paid federal holidays.
• Student debt employer repayment program.
• 401(k) retirement plan with a 6% match.
• The health and happiness of the places we call home matter to us. Learn a little more about what we do for the communities we serve and why we want YOU to be a part of it.

SUMMARY

The Director of Payments and Operational Strategy leads the Payments and Payment Fraud Risk Management functions and partners closely with the Chief Operations Officer (COO) to develop and advance the bank’s broader operations strategy. This role defines strategy, establishes priorities and governance, develops leaders, and drives execution across faster payments, debit cards, credit cards, ACH, wire transfers, ATM services, payment fraud risk management, innovation, and operational improvement. The position collaborates across business, operations, technology, finance, risk, and external partners to deliver secure, scalable solutions, effective controls, exceptional client experiences, and measurable business results.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Develops and executes enterprise strategies and multi-year roadmaps for Payments and Payment Fraud Risk Management and partners with the COO to advance the bank’s broader operations strategy in alignment with its vision, growth objectives, risk appetite, and technology priorities.
• Leads the strategic direction, performance, and ongoing modernization of faster payments, debit cards, credit cards, ACH, wire transfers, and ATM capabilities.
• Establishes governance, policies, standards, controls, metrics, and reporting for payment services and the enterprise payment fraud risk management program.
• Oversees payment fraud analytics, prevention systems, key risk indicators, loss and prevention metrics, emerging threat response, quality assurance, and reporting to senior management and the Board Risk Committee.
• Partners with the COO to advance business‑led projects, enterprise initiatives, process improvements, automation efforts, and operating model changes that enhance efficiency, service quality, scalability, controls, and financial performance.
• Drives innovation by evaluating emerging technologies, fintech partnerships, data capabilities, and industry practices through disciplined business cases, pilot programs, and implementation plans.
• Collaborates with business lines and control functions to understand client and employee needs, manage regulatory and operational risk, strengthen organizational resilience, and ensure solutions are practical and effective.
• Establishes and monitors performance measures related to adoption, transaction and ATM volume, revenue, expense, service quality, system availability, payment fraud exposure, operational risk, initiative delivery, and client experience.
• Oversees vendor, network, and technology partner relationships, including strategic alignment, service‑level performance, issue resolution, and management of material dependencies.
• Provides clear, decision‑ready analysis, reporting, and recommendations to the COO, executive leadership, and the Board, as appropriate.
• Aligns stakeholders across business lines, operations, technology, finance, treasury management, enterprise risk, compliance, information security, internal audit, and external partners to achieve strategic objectives.

MANAGEMENT RESPONSIBILITIES

• Leads the Payments and Payment Fraud Risk Management functions, establishing clear accountability, coordinated priorities, and effective decision‑making while partnering with the COO on broader operations strategy.
• Develops, coaches, and mentors leaders and team members, ensuring they have the resources, training, and support necessary to achieve business objectives and professional growth.
• Maintains oversight of strategy execution, performance, staffing, budgets, risk, and material issues while appropriately delegating day‑to‑day management responsibilities.
• Fosters a collaborative, high‑performing culture focused on client service, innovation, continuous improvement, disciplined execution, and sound risk management practices.
• Establishes clear expectations, performance standards, and accountability measures to support individual, team, and organizational success.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

KNOWLEDGE, SKILLS AND ABILITIES

• Significant leadership experience in payments, payment fraud, banking, financial services, operations, product management, or a related field, including responsibility for multiple functions and experience leading leaders and senior‑level teams.
• Demonstrated knowledge of faster payments, debit card, credit card, ACH, wire transfer, and ATM products, networks, economics, operations, and associated risk considerations.
• Strong understanding of enterprise payment fraud risk management frameworks, regulatory requirements, analytics, key risk indicators, prevention systems, risk assessments, quality assurance practices, and internal controls.
• Proven success in developing strategy and leading complex initiatives, project portfolios, process improvement efforts, innovation programs, and organizational change from concept through implementation and measurable results.
• Experience managing vendors, technology partners, budgets, service‑level agreements, and critical operational dependencies.
• Ability to analyze financial and operational data, develop compelling business cases, and communicate clear, actionable recommendations to executive leadership and Board‑level audiences.
• Strong judgment, executive presence, collaboration, influence, negotiation, and change leadership capabilities.

EDUCATION AND/OR EXPERIENCE

• Bachelor’s Degree in Business, Finance, Operations, Technology, or a related field required
• Master’s Degree preferred
• Graduate of a recognized banking school preferred
• 10+ years of progressive leadership experience in banking or financial services, with significant exposure to several of the following areas: loan operations, deposit operations, treasury management operations, payments, and contact center operations required
• Experience working in a bank with $15 billion or more in assets preferred

PHYSICAL DEMANDS AND WORKING ENVIRONMENT

The physical demands and work environment are representative of those that must be met or encountered to successfully perform the essential functions of the job. In compliance with the Americans with Disabilities Act, the company provides reasonable accommodation to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.

• Dexterity of hands/fingers to operate computer keyboard and mouse - Frequently
• Sitting - Frequently
• Standing - Occasionally
• Noise Level - Moderate
• Typical Work Hours - M-F (8-5)
• Weekends - Subject to business need
• Regular and Predictable Attendance - Required
• Travel - 30%

COMPENSATION & BENEFITS

We offer a competitive total compensation package including base salary and benefits. The anticipated pay range for this position is $210,540 to $347,380 per year in CO and depends on a variety of non-discriminatory factors including, but not limited to, job‑related knowledge, skills and experience, education, and geographic location. Additionally, this role is eligible to receive annual discretionary cash and stock bonuses. Benefits available for this position include, but are not limited to, medical, dental, vision, short-term and long-term disability benefits and life insurance, flexible spending accounts, health savings account, employee assistance program, 401(k), Paid Time Off (new hires accrue at .069 per hours worked which equates to approximately 18 days per year inclusive of paid sick time) and up to 11 paid Federal holidays. Please note this information is provided for those hired in Colorado only, and this role is open to candidates outside of Colorado with compensation that aligns with your location. For more information regarding our benefits, please visit https://www.firstinterstatebank.com/company/about/employee-benefits.php