Southern Financial Bancorp in Warrenton, Va., has hired William H. Stevens as executive vice president of risk management, a newly created position.

For eight years Mr. Stevens was a senior analyst in the Inspector General's Office of the Federal Deposit Insurance Corp. Earlier he was an executive vice president at Riggs National Bank in Washington. He began his career with 18 years at Chemical Bank, now Chase Manhattan Bank.

Southern Financial also hired Richard P. Steele for a newly created position -- senior vice president, special projects. He will initially be responsible for merging the company's back-office operations with those of Fairfax-based Horizon Bank of Virginia, which it is buying.

Mr. Steele was senior vice president of FX Concepts Inc., an international money management firm in New York. Earlier he worked 23 years at Eli Lilly & Co.

He and Mr. Stevens will report to Georgia Derrico, chairman and chief executive officer of $271 million Southern Financial.

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