Malvern Federal Savings Bank, the wholly owned subsidiary of Malvern Bancorp, announced the appointment of William Woolworth as chief risk officer.

Woolworth is a banking industry veteran with nearly 30 years’ experience with financial institutions. Prior to joining Malvern Federal, he served in the positions of director of enterprise risk management, chief auditor and chief compliance officer for Customers Bank. He previously served as chief risk officer for First National Bank of Chester County and held audit director and manager positions at Ferris, Baker Watts, a full-service broker-dealer and investment banking firm; Citigroup; Provident Bank of Maryland; and First Maryland Bank.

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