Louise Roseman, the longtime head of the Federal Reserve's payment systems division, plans to retire this year.

Roseman has been director of the Fed's division of reserve bank operations and payment systems for the past 17 years, according to a Wednesday news release. She has worked at the Fed since 1985, when she joined the payment systems division as a program leader.

The Fed, which will begin a search for her successor, did not provide an exact date for Roseman's retirement.

The division that Roseman leads has oversight of reserve bank operations, including the provision of payments services, and fiscal agency services to the Treasury Department and to other government agencies.

"Louise's vision and energy during a time of rapid technological innovation have contributed enormously to the Federal Reserve's important mission of fostering a safe and efficient payment system," Fed Chair Janet Yellen said in the news release.