Toms River, N.J.-based OceanFirst Bank, a unit of OceanFirst Financial Corp., named Grace Vallacchi executive vice president and chief risk officer, effective Sept. 5.

In her new position, Vallacchi, who has more than 25 years of experience in commercial banking and regulatory oversight, will be responsible for managing the bank's credit and enterprise risks.

Vallacchi currently serves as an associate deputy comptroller in the Northeastern District of the Office of the Comptroller of the Currency.