Student lender Sallie Mae, formally SLM Corp., announced the promotion of Chief Credit Risk Officer Munish Pahwa to executive vice president and chief risk officer.

Pahwa will be responsible for the company’s integrated risk and compliance function and maintaining strong relationships with regulators. He succeeds Kerri Palmer, who was promoted to chief operational officer and president earlier this year.

Prior to joining Sallie Mae, Pahwa spent nearly 16 years at Bank of America in various risk roles. He also held roles in risk, collections, operations, and decision sciences at MBNA, PNC Bank, and Bank of New York Mellon.