Citizens Financial Group, the parent company of Citizens Bank, announced the appointment of Richard Stein as chief risk officer, effective the first quarter of 2024.

Stein will succeed Malcolm Griggs, who is retiring, and report to Bruce Van Saun, chairman and chief executive. Stein will also serve on the bank’s executive committee.

With more than 25 years of experience, Stein will join Citizens from Fifth Third Bancorp, where he most recently served as executive vice president and chief credit officer. He also served in roles of increasing responsibility at Comerica and Bank of America.

Griggs retires after joining Citizens in 2016 as chief risk officer and 34 years in the banking industry.