Sallie Mae announced that Munish Pahwa has been appointed as executive vice president and chief risk officer. In his new role, Pahwa will be responsible for the company's integrated risk and compliance function and maintaining strong relationships with regulators. He replaces Kerri Palmer, who was named chief operating officer and president of Sallie Mae Bank earlier this year.

Pahwa, who has served as chief credit risk officer for Sallie Mae since 2021, has previously 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.