TOMS RIVER, N.J., Aug. 08, 2017 (GLOBE NEWSWIRE) -- OceanFirst Bank (OceanFirst), the wholly owned subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC) announced Grace Vallacchi has been appointed Executive Vice President and Chief Risk Officer effective September 5, 2017.

Ms. Vallacchi is an experienced risk management professional who comes to OceanFirst with more than 25 years of experience in commercial banking and regulatory oversight. Currently, Ms. Vallacchi is an Associate Deputy Comptroller in the Northeastern District of the Office of the Comptroller of the Currency (OCC). As Associate Deputy Comptroller, Ms. Vallacchi is a senior officer of the Northeastern District with responsibilities that included direct oversight of seven Assistant Deputy Controllers with 180+ examiners responsible for supervising 120 community banks and thrifts. In addition to the various positions with increasing responsibility that she has held during her tenure at the OCC, Ms. Vallacchi also spent several years with New Jersey commercial banks. Ms. Vallacchi began her banking career at First Fidelity Bank in Newark as Vice President and Large Corporate Relationship Manager before serving as Vice President and Senior Commercial Credit Underwriter at First Union National Bank in Summit.

At OceanFirst, Ms. Vallacchi will have management responsibility for the credit risk and enterprise risk functions of the Bank.

OceanFirst Bank, founded in 1902, is a $5.2 billion community bank with branches located throughout central and southern New Jersey. OceanFirst Bank delivers commercial and residential financing solutions, wealth management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.