(Bloomberg) -- New York Community Bancorp said its disclosure of “material weaknesses” in how it tracks risks won’t require additional reserves for future loan losses.

“Our allowance for credit losses considered these weaknesses and is not expected to change,” Alessandro DiNello, who this week replaced Thomas Cangemi as chief executive officer, said in a statement Friday. “The company has strong liquidity and a solid deposit base, and I am confident we will execute on our turnaround plan to deliver increased shareholder value.”

Also on Friday, the bank named George F. Buchanan chief risk officer and Colleen McCullum chief audit executive. Those executives’ predecessors left their posts in the months before the bank slashed its dividend and stockpiled cash against future loan losses in late January, sparking a crisis that has sent its shares tumbling.

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Buchanan has more than 30 years of experience in risks related to financial services, having previous stints at First Union, AmSouth Bank and Regions Financial Corp. McCullum joins NYCB from United Community Bank, where she was chief audit executive. She previously spent three years at Capital One Financial Corp., most recently as a senior vice president and head of line-of-business audit.

“George and Colleen are proven leaders with large bank and public company expertise and successful track records of delivering operational excellence,” DiNello said in the statement.

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