TowneBank hires chief risk officer, senior EVP

Suffolk-based TowneBank appointed Ernest Piccioli as senior executive vice president and chief risk officer, the bank announced Monday.

Piccioli is based at TowneBank’s headquarters. As chief risk officer, he will be responsible for governance of the company’s risk programs and oversee risk management, vendor management, credit review and appraisal services.

“Having Ernest aboard as chief risk officer provides added assurance for the sustained safety and soundness of our company,” TowneBank President and CEO William I. “Billy” Foster III said in a statement. “His proven success in an enterprise risk management leadership role for a large financial institution made it clear that he was the right candidate.”

Piccioli worked for Truist Financial Corp. for more than 30 years, most recently as executive vice president and chief risk officer. He holds a bachelor’s degree in business management and economics from North Carolina State University and an MBA from Wake Forest University.

Piccioli is a member of the Risk Management Association’s Lending and Credit Risk Professionals group and the Consumer Bankers Association’s Risk Committee.

“The TowneBank team has been so welcoming,” he said in a statement. “I look forward to leading the risk management efforts of this dynamic and growing organization that has always valued risk mitigation as a key factor in its success.”

Founded in 1999, TowneBank now has more than 45 banking offices throughout Hampton Roads and Central Virginia and in North Carolina. As of March 31, TowneBank had total assets of $16.73 billion.