Bank executive responsible for managing risk at Webster Bank to step down from position.
Webster Bank, a leading financial institution in the United States, is bolstering its risk and cybersecurity infrastructure as it approaches the $100 billion-asset threshold.
In a significant move, Daniel Bley, the bank's current Chief Risk Officer (CRO), has announced his retirement after 14 years with the lender. Bley will continue in his CRO role until a replacement is found, after which he will move to an advisory role.
Beyond his role as CRO, Bley also oversees Bank Secrecy Act/anti-money laundering and fraud programs at the bank. He has been instrumental in managing the bank's enterprise risk functions, including operating, compliance, and regulatory risk.
Before joining Webster Bank in 2010, Bley served in credit-risk positions at Royal Bank of Scotland for two years and ABN Amro for 18 years. His contributions to the bank's risk management programs and growth have not gone unnoticed, with John Ciulla, Webster's CEO, praising his work.
To fill the CRO role, Webster Bank has appointed management consulting firm Russell Reynolds to conduct the search. The search involves both internal and external candidates, with the bank inviting interested parties to submit their résumés to the Chief Operating Officer at [email protected], with a closing date for applications on June 30, 2025.
As part of its infrastructure development, Webster Bank plans to improve data, cybersecurity, digital, and regulatory reporting. The bank is also preparing for higher capital and liquidity requirements and more frequent regulatory reporting.
Recognising the significant technology component as it nears the $100 billion-asset threshold, Webster Bank is stepping up its hiring efforts. The bank intends to hire approximately 200 employees this year, with about 25 of those positions in technology and cybersecurity roles on the IT team.
Webster Bank is also bolstering its cybersecurity infrastructure as it nears the $100 billion-asset threshold. This move comes as the bank plans to build technology, risk, and data infrastructure to potentially execute a whole-bank acquisition in the next one to three years.
Regulatory conditions are considered in the bank's potential acquisition plans, ensuring compliance with all relevant laws and regulations.
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This news signifies a period of growth and transformation for Webster Bank, with a focus on strengthening its risk and cybersecurity infrastructure to support its future growth and potential acquisitions.
In light of its approaching $100 billion-asset threshold, Webster Bank is bolstering its cybersecurity infrastructure, recognizing the importance of technology as it nears this significant milestone. Moreover, in order to accommodate this growth and potential acquisitions, the bank is planning to hire approximately 200 employees this year, with about 25 of those positions focusing on technology and cybersecurity roles.
