Sallie Mae Names Munish Pahwa Chief Risk Officer

Rhea-AI Summary

Sallie Mae (Nasdaq: SLM) has appointed Munish Pahwa as Executive Vice President and Chief Risk Officer. Pahwa will be responsible for the company's risk and compliance function and maintaining relationships with regulators. He replaces Kerri Palmer, who is now Chief Operational Officer and President of Sallie Mae Bank. Pahwa has been Chief Credit Risk Officer for Sallie Mae since 2021 and has extensive experience in risk roles at Bank of America, MBNA, PNC Bank, and Bank of New York Mellon. Pahwa's appointment is expected to enhance the company's risk and compliance functions.

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae® (Nasdaq: SLM), formally SLM Corporation, has named Munish Pahwa Executive Vice President and Chief Risk Officer. Pahwa will be accountable for the company’s integrated risk and compliance function and maintaining strong relationships with regulators. He succeeds Kerri Palmer, who was named Chief Operational Officer and President of Sallie Mae Bank earlier this year.

Pahwa has served as Chief Credit Risk Officer for Sallie Mae since 2021. Prior to joining Sallie Mae, he spent nearly 16 years at Bank of America in various risk roles. Pahwa also held roles in Risk, Collections, Operations, and Decision Sciences at MBNA, PNC Bank, and Bank of New York Mellon.

“Munish is a proven risk management leader who’s been instrumental in developing and managing our risk management framework,” said Jon Witter, CEO, Sallie Mae. “He’s served well as our interim Chief Risk Officer for the last 6 months and I’m confident his extensive experience and familiarity with our business will further advance and enhance our strong risk and compliance functions.”

Pahwa earned a bachelor’s degree in engineering from MACT, Bhopal and an MBA from Indian Institute of Management, Calcutta. He earned a doctorate in economics from the University of Delaware.

He is a board member for the University of Delaware’s Center for Economic Education & Entrepreneurship.

For more information visit www.salliemae.com.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Category: Corporate and Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20230720728432/en/

Rick Castellano

302.451.2541

rick.castellano@salliemae.com

Source: Sallie Mae

FAQ

Who has been appointed as the new Chief Risk Officer of Sallie Mae?

Munish Pahwa has been appointed as the new Chief Risk Officer of Sallie Mae.

What will be Munish Pahwa's responsibilities in his new role?

Munish Pahwa will be responsible for the company's risk and compliance function and maintaining relationships with regulators.

Who was Munish Pahwa's predecessor?

Kerri Palmer was Munish Pahwa's predecessor.

What role will Kerri Palmer take on?

Kerri Palmer will now serve as Chief Operational Officer and President of Sallie Mae Bank.

What is Sallie Mae's main business?

Sallie Mae is the leader in private student lending, providing financing and resources to support access to college.