Mahindra & Mahindra Financial Services (M&M Finance) has named Mahesh Rajaraman as the new Chief Risk Officer (CRO), effective August 1, 2024. This decision comes in the wake of the resignation of the current CRO, Mallika Mittal, who will be leaving the company to explore external opportunities. Mittal’s resignation will be effective from the close of business hours on November 16, 2024.
In a regulatory filing, M&M Finance detailed that Gaurav Verma, Head Underwriting & Product Policy, will oversee the risk management function on an interim basis until Rajaraman assumes his role.
Rajaraman brings 29 years of extensive banking experience, having served in various high-profile roles at City Union Bank, Yes Bank, HDFC Bank, HSBC Bank, and ANZ Grindlays Bank. His expertise spans retail assets, credit cards, agricultural lending, and SMEs, with a strong focus on policy, risk, underwriting, fraud risk management, and anti-money laundering.
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Rajaraman’s appointment is expected to bring a renewed focus on strengthening the risk management framework at M&M Finance as the company navigates through these challenges and strives to restore stakeholder confidence.
