What are the responsibilities and job description for the Director, Financial Operations position at Fortis Payment Systems LLC?
Description:OVERVIEW:At Fortis, we lead the way in next generation payment technologies and solutions. We transform payments into a competitive advantage for our clients and partners, enabling businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves payments closer to invisible with a proprietary platform that supports and strengthens the payments capabilities of merchants and software partners. We are a collaborative team of innovators, problem solvers, and builders, committed to the growth of our clients, partners, and team members. Through award winning software integrations, robust data, and industry vertical and commerce expertise, we deliver the ultimate frictionless commerce experiences. We are in hyper growth mode and seeking talented, innovative, and collaborative problem solvers to help us build and scale the future of payments. Grow your career with us and be on the cutting edge of the rapidly expanding FinTech payments space.The Director of Financial Operations is a strategic and hands-on leader responsible for overseeing all financial operational functions within the payment processing organization, with a primary focus on partner residual payout management and rebilling the organization’s platform fees and POS device revenue. This role ensures the accuracy, integrity, compliance, and timeliness of complex commission and residual distributions while maintaining strong internal controls and scalable financial processes.The ideal candidate brings deep experience in payment processing, merchant services, residual calculations, and high-volume transaction environments, along with a strong operational and analytical mindset.ESSENTIAL DUTIES:Financial Operations LeadershipLead and oversee all financial operations, including residual payout processing, commission structures, partner settlements, and reconciliation processes.Oversee internal company billing related items such as merchant hardware, platform fees rebill, and ACH return rebillDevelop, implement, and optimize scalable financial systems and operational workflows.Ensure accuracy and timeliness of monthly partner residual payouts.Administer accuracy and timelines of merchant invoices and credit memo for organization’s internal billing and refund related itemsOversee transaction-level reconciliation between processors, banks, and internal systems.Residual & Internal Billing ManagementManage complex residual/commission structures, including tiered, performance-based, and portfolio-based residual models.Validate and audit residual calculations to ensure compliance with contractual agreements.Collaborate with Sales, Partner Management, and Executive teams to structure and implement new compensation plans.Co-lead residual migration for portfolio acquisition to the organization’s proprietary residual systemAddress and resolve partner inquiries related to payout discrepancies.Develop and maintain end-to-end billing and refund workflows including recurring and 3rd party gateway billing.Risk Management & ComplianceEnsure compliance with financial regulations, internal policies, processor guidelines, and industry standards (e.g. PCI-DSS, NACHA).Strengthen internal controls related to payment processing, settlement, and payout distributions.Partner with Risk Collection team to mitigate exposure related to outstanding balance, overpayments, and claw backsSupport internal and external audits, including SOC and regulatory reviews and financial reviews.Systems & Process OptimizationLead financial systems integration and automation initiatives.Drive continuous improvement initiatives to reduce manual processes and operational risk.Strategic LeadershipBuild, mentor, and manage a high-performing financial operations team.Establish KPIs and performance standards.Foster cross-functional collaboration between Finance, IT, Risk, Product, Legal, Operations, and Sales Operations.Requirements:EDUCATION AND EXPERIENCE:Bachelor’s degree in Finance, Accounting, Business, or related field (MBA or CPA preferred).10 years of experience in financial operations, with at least 5 years in a leadership role.Proven experience in the payments, fintech, or financial services industry.Strong understanding of payment processing, settlement cycles, and reconciliation practices.Proficiency in financial systems (e.g., NetSuite, Oracle, SAP) and data tools (e.g., SQL, Excel, BI platforms).Excellent leadership, communication, and problem-solving skills.PREFERRED ATTRIBUTES:Experience with high-volume transaction environments and real-time payment systems.Familiarity with global payment networks and cross-border financial operations.Ability to thrive in a fast-paced, high-growth, and tech-driven environment.PHYSICAL REQUIREMENTS:Working Conditions: This is a remote position. Travel is required.Physical Activities: Occasional standing, stooping, reaching and lifting up to 25 pounds.Physical Demands: Prolonged periods of sitting at a desk, typing on a computer keyboard, and speaking on the telephone. Frequent repetitive motions.Note: This job description is not an employment agreement or contract. This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this position. Duties, responsibilities and activities may change at any time with or without notice.
Salary : $150,000 - $175,000