NORWAY, ME – Norway Savings Bank is pleased to announce the appointment of Dawn Mugford (pictured below) as Senior Vice President, Chief Risk Officer. Mugford succeeds Carolyn Thomas, who is transitioning into a new role as Senior Vice President, Credit & Special Assets Officer, at the end of the year.

Mugford arrived at NSB in January of 2025 as Senior Vice President, Risk, and was also named the bank’s Bank Secrecy Act (BSA) Officer in July. She possesses more than 20 years of expertise in risk management, audit, and quality assurance in the financial sector. Prior to joining the NSB team, Mugford served as Executive Vice President, Chief Risk Officer at Rockland Trust Bank in Rockland, Massachusetts, and as Senior Vice President and Director of Operational Risk Management and Corporate Securities/Investigations at Eastern Bank in Boston, Massachusetts. She has also worked in the areas of risk, audit, and due diligence for TD Bank in both Canada and the U.S.

“In her career, Dawn has been responsible for reporting of all major risk types as well as expanding on risk management infrastructure to help maintain and grow customer confidence. She has proven herself to be an experienced and effective risk professional and a great fit for our achievement and support culture,” said Dan Walsh, President and CEO of Norway Savings Bank.

“Risk Management is always different and interesting,” said Mugford. “It’s trying to figure out what could possibly go wrong and being prepared for it in the best way possible to support our customers and the communities in which we serve. In my time at NSB, it’s clear that the great culture and reputation it has in the financial industry and beyond is well earned, and I’m looking forward to working with this amazing team in my new role.”

Mugford earned her Bachelor of Business Administration from the esteemed Wilfrid Laurier University, a top-rated Canadian business school, and was recently recognized as one of the “Top 50 Women Chief Risk Officers of 2024” by Women We Admire. She has volunteered with a number of organizations, including the American Red Cross (current board member), United Way, Junior Achievement, the Maine Cancer Society, and DOVE (past board member), an organization committed to ending domestic violence. In addition, Mugford is active in the Parkrun movement that offers free community events at which participants can walk, jog, run, volunteer, and socialize. Since her arrival in Maine, she is the co-organizer and event director for a new weekly Parkrun event held at Shaw Cherry Hill Farm in Gorham, where she resides. Mugford is also an active athlete, participating in several Tri-For-A-Cure races, a 70.3 Ironman, the Pan-Mass Challenge, ultramarathons, and successfully hiking Mount Kilimanjaro in Tanzania.

Looking to make a great career move yourself? Join a positive, team-based culture that will utilize your unique gifts to help you achieve great things! NSB is currently seeking motivated individuals for a number of exciting and dynamic roles. Come take a look: www.norwaysavings.bank/get-to-know-us/careers.