FMS Leadership

Balaji Rajan – CEO

Balaji “Raj” Rajan is Chief Executive Officer of Ceannate Corp., a leading business process outsourcing firm focused entirely on the students and institutions in the post-secondary education sector. 


Raj is responsible for the overall strategy of the Ceannate companies which employ over 900 individuals across four wholly-owned subsidiaries including Financial Management Systems; AuthenticAID, Inc.; i3 Group, LLC; and Iontuition, Inc.  Each company addresses student relationship and loan management challenges specific to distinct phases in the education loan lifecycle including: in-school and in-grace servicing, financial literacy, repayment optimization, delinquency prevention, default aversion, and debt resolution. Over the course of his time in the education sector, Raj has developed long-standing relationships with and expertise in programs at the U.S. Department of Education.


As a leading innovator in the student borrower assistance arena and based on the perspectives of Ceannate having engaged in millions of student-borrower interactions, in 2011, Raj oversaw the conception, development, and implementation of iontuition, the first web-based, user-friendly tool to help student loan borrowers manage and plan repayment of their student loans. Raj has also sought to bring the company’s expertise to bear in the development of public policy relating to financial literacy, financial aid practices, and student loan management by authoring two opinion pieces on those topics:  “Student Loan System Needs an Overhaul” (The Hill, January 7, 2014) and “How Congress Can Fix the Student Debt Crisis” (Roll Call, July 21, 2014).


While he maintains an active role across all subsidiary operations, Raj focuses primarily on product development and government affairs as he guides the core business towards profitable sustainability. In addition to serving as CEO, Raj sits on the Ceannate Corp. Board of Directors and has been active in several higher education organizations, including the National Council of Higher Education Resources, the National Association of Student Financial Aid Administrators, and the Coalition of Higher Education Assistance Organizations. He is also a member of YPO Chicago. 

Maureen Peterson – President & COO

Maureen Peterson, recognized as one of the Top 50 Most Influential Professionals in the sector, has managed ARM operations in increasingly senior positions for the last 20 years. She has contributed and operated in all facets of debt collection – from first-party servicing to purchased debt collections in near-shore facilities.


As President and Chief Operating Officer of Ceannate Corp., she is responsible for operations across all Company subsidiaries, including FMS’ Task Order operations for the U.S. Department of Education. Since joining Ceannate in 2008, she has led the Company through a period of unprecedented growth. The formation of i3 Group, followed shortly thereafter by the launch of iontuition, effectively expanded the Company’s service offerings to higher education institutions with an emphasis on student-facing web services. Maureen is also a member of Ceannate’s Board of Directors. Prior to joining Ceannate, Maureen served as President of Van Ru Credit Corporation where she grew the organization to over 1,400 employees and top rankings across all competitive client contracts.

Len Strepek – SVP, FMS

Len Strepek’s experience spans 20 years in the accounts receivable management industry. Most recently, Len held the position of Contract Administrator/General Manager for Van Ru Credit Corporation’s U.S. Department of Education task orders from 2002– 2008 and led the company to first place finishes in several competitive ranking periods. He has worked closely with Maureen Peterson and Balaji Rajan throughout his career. Len’s expertise in systems and process management are key to his successes. Len was responsible for a revenue budget of $30 million annually on the ED contract with over 400 employees and multiple branch offices reporting directly to him.

Lou Klein – VP, FMS

As the Vice President for FMS, Lou Klein has complete oversight of collection and related operations at the company's Schaumburg, IL and Rosemont, IL offices.  He has over 20 years of experience in accounts receivable management, the majority of which have been dedicated to the U.S. Department of Education Task Orders. Prior to FMS, Lou has worked with several companies including GC Services, Outsource Solutions Inc., and most recently Van Ru Credit Corporation. As a Collection Manager at Van Ru Credit Corporation, he was instrumental in leading the company to several first place rankings. Lou’s expertise ranges from portfolio management to the professional development of staff which has led FMS to several competitive rankings.