Suncorp Deputy CFO Clayton Herbert has been appointed Chief Risk Officer, replacing Robert Stribling.

He will begin to transition into the role in April and take up the new appointment fully in June.

Mr Stribling, whose contract ends in January, has agreed to extend his two-year contract to the end of June to allow a smooth transition.

Mr Herbert has been with Suncorp for 11 years. Before that he was an audit partner with KPMG for 17 years.

After leaving Suncorp Mr Stribling plans to scale down his work commitments and act as a consultant.