Chief Executive Officer

Balaji “Raj” Rajan is CEO of Ceannate Corp, a firm focused on the students and institutions in the post-secondary education sector. 


Raj took over a two-person company called Financial Management Systems in 2003 and built Ceannate Corp, across four wholly-owned subsidiaries - Financial Management Systems, i3 Group, IonTuition, and META. Each company addresses student relationship. META is the first teletherapy app built specifically for colleges.


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 works closely to influence public policy relating to financial literacy, financial aid practices, and student loan management with policy-makers in Washington. 


Financial Management Systems is the nation’s most successful default portfolio manager for education related receivables.


In addition to serving as CEO, Raj sits on the Ceannate Corp Board of Directors and has been active in education finance policy and operations. He is a contributor for various OpEds on The Hill and Roll Call publications in Washington. He is a member of YPO Gold - Chicago Chapter.

President & Chief Operating Officer

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 25 years. She has contributed and operated in all facets of debt collection, loan servicing and default aversion. The asset classes include first-party, later stage, and purchased debt collections. She has managed operations domestically as well as near shore. Over the past ten years her area of operational management expertise has expanded into web-based tools and data focused solutions.


As President and Chief Operating Officer of Ceannate Corp, she is responsible for operations across all Company subsidiaries. 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. Today, IonTuition also serves as a benefit offering for employers. Maureen is also a member of Ceannate’s Board of Directors. Prior to joining Ceannate, Maureen served as President of an Account Receivables company where she grew the organization to over 1,400 employees and top rankings across all competitive client contracts.

Senior Vice President, FMS

Len Strepek’s experience spans 30 years in the accounts receivable management industry. Len has held the position of Contract Administrator/General Manager on several contracts for the U.S. Department of Education task orders from 2002–2008 and led the operation to first place finishes in several competitive ranking periods.


Len has managed a variety of business types including FSA default collections, GSL student loans (e.g., USAF, ECMC, CSAC, TGLS), university/campus, credit card, debt purchased, and other retail credit lines. His experience includes managing a $150M annual revenue budget exceeding targets year over year as well as collecting on portfolios over $1B in placement value.


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. His team has been the top performing agency in all areas, most notably for FSA. Len credits his success to his management team, well trained staff, and the continuously development of skills to stay ahead of industry changes tied to the evolving collection technology and strategies.

Vice President of Operations, FMS

As the Vice President for FMS, Lou Klein has complete oversight of collection and related operations. 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.