Piet Hamberg has left Grasshoppers to become Liverpool's new academy technical manager.
"Following the departure of Steve we took the opportunity to review the academy structure and decided to separate the very distinct roles," said Parry.
"Piet will come in with the specific brief to head up the coaching and development side, while Malcolm will be in charge of all recruitment."
Reds boss Rafa Benitez backed the appointment of Hamberg as he looks for the club to develop their own young talent.
"We have had some very good reports about Piet and he will bring great experience to the new role," Benitez told the club's official website.
"Our youngsters can only benefit from working with someone with his background in youth development."