DORA Deputy Executive Director
Myklebust was appointed as Colorado’s State Bank Commissioner in July 2015. Prior, he had served as the State Commissioner of Financial Services from 2006—2015. In April 2017, he was appointed as Commissioner for both the Division of Banking and the Division of Financial Services. Myklebust left DORA on November 30, 2017 to start his own consulting business.
While serving as State Bank and Financial Services Commissioner, Myklebust had executive authority to ensure the safety of over $9.7 billion in deposits by 1.5 million consumers in Colorado’s credit unions, savings and loan associations and life care institutions, and $50 billion in deposits in Colorado’s commercial banks and trust companies. Myklebust negotiated solutions on complex policy and financial issues, as well as administered the enforcement of federal and Colorado laws, rules and regulations and compliance examinations for both divisions. He also managed relationships with a variety of stakeholders such as boards of directors, legislators, attorneys, federal regulatory agencies, consumers and industry associations.