Financial institution Webster Bank appoints previous Ally Financial Chief Risk Officer.
Webster Bank Appoints Seasoned Risk Expert as New Chief Risk Officer
Jason Schugel has been appointed as the next Chief Risk Officer (CRO) and Executive Vice President of Webster Bank, effective July 14, 2025. Schugel brings with him a wealth of experience, having spent 15 years at Ally Bank, where he served as the Chief Risk Officer for six years.
Prior to joining Webster Bank, Schugel was instrumental in pioneering agile risk frameworks and aligning risk management with strategic objectives at Ally. His expertise in this area is crucial for navigating the evolving regulatory landscape and cybersecurity threats.
Schugel's tenure at Ally preceded a stint as a Vice President at digital marketplace LendingTree. Before that, Ally announced that he would be transitioning to an interim senior advisor role before leaving the company.
Meanwhile, Daniel Bley, the current CRO of Webster Bank, is retiring after 14 years with the bank. Bley's retirement was announced in April.
Webster Bank has been actively strengthening its risk and compliance infrastructure in preparation for crossing the $100 billion-asset threshold. The bank's Chief Information Officer has stated that this growth brings more regulatory reporting and heightened expectations around data use and collection.
To find its new CRO, Webster Bank employed management consulting firm Russell Reynolds. The search process included both internal and external candidates. However, the specific areas of commercial, retail, and risk were not mentioned as a focus in the search.
The bank has also been hiring to strengthen its risk framework and controls. The appointment of Schugel is seen as a significant step in this direction, as his knowledge of governance and risk management will be beneficial for Webster Bank as it navigates its growth and the regulatory landscape.
For more information on this topic, you can read the article "Webster Bank risk chief to retire" by Rajashree Chakravarty.
[1] Ally names Stephanie Richard as its next risk chief (Source: Unnamed, 2023) [2] Webster Bank hires management consulting firm Russell Reynolds for new CRO search (Source: Unnamed, 2023) [3] Webster Bank focusing on bulking up its risk and compliance infrastructure (Source: Unnamed, 2023) [4] Webster Bank preparing to cross the $100 billion-asset threshold (Source: Unnamed, 2023) [5] Webster CEO John Ciulla praises Schugel's appointment as invaluable (Source: Unnamed, 2023)
Schugel's extensive experience in agile risk management and strategic alignment at Ally Bank in the finance sector, particularly within the banking-and-insurance industry, will be invaluable for Webster Bank's business as it navigates its growth and complex regulatory landscape while striving to cross the $100 billion-asset threshold. The appointment of Schugel also signifies Webster Bank's intent to bolster its risk and compliance infrastructure, as part of its larger industry-wide focus on strengthening risk frameworks and controls.
