Norway Savings Bank has hired Dawn Mugford as senior vice president of risk.
Most recently, Mugford served as executive vice president and chief risk officer at Rockland Trust Bank, based in Rockland, Mass.
Mugford has over 20 years of experience in risk management, audit, and quality assurance in the financial sector. Women We Admire recently recognized her as one of the “Top 50 Women Chief Risk Officers of 2024.”
Prior to her time at Rockland Trust Bank, she was the senior vice president and director of operational risk management and Corporate securities and investigations at Eastern Bank in Boston. She also held roles for TD Bank in both Canada and the U.S.
“Risk management is always different and interesting,” said Mugford. “It’s trying to figure out what could possibly go wrong and then be prepared in the best way possible for it. It’s also about figuring out how to navigate activities to support our customers and strengthen the bank but still be within our risk appetite.”
Mugford received her bachelor’s degree in business administration from Wilfrid Laurier University in Ontario, Canada.
The Gorham resident was born near Manchester, England, and moved to Canada as a youth. She has volunteered with the American Red Cross, United Way, Junior Achievement, the Maine Cancer Society, Park Run, and DOVE, an organization committed to ending domestic violence.
“In her career, Dawn has been responsible for the enterprise-wide monitoring, controls, measurement, and reporting of all major risk types as well as expanding on risk management infrastructure to help maintain and grow customer confidence,” said Dan Walsh, president and CEO of Norway Savings Bank.
Norway Savings Bank has 24 branches and was ranked No. 7 among the largest Maine-based banks, based on assets of $1.83 billion on June 30, 2024, according to the 2025 Mainebiz Book of Lists.