State Bank and Financial Services Commissioner
Commissioner Chris Myklebust was appointed as the State Bank and Financial Services Commissioner at DORA on April 28, 2017. In this dual role, Commissioner Myklebust oversees two separate financial divisions at DORA — the Division of Banking and the Division of Financial Services — has 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.
The Division of Banking regulates the business of state chartered and/or licensed financial institutions, including state commercial banks, money transmitters and trust companies. The Division of Financial Services regulates state-chartered credit unions and savings and loan associations, the administration and enforcement of the Savings and Loan Public Deposit Protection Act, and certain financial activities of state life care institutions.
As State Bank and Financial Services Commissioner, he negotiates solutions on complex policy and financial issues, as well as administers the enforcement of federal and Colorado laws, rules and regulations and compliance examinations for both divisions. He also manages relationships with a variety of stakeholders such as boards of directors, legislators, attorneys, federal regulatory agencies, consumers and industry associations.
He was appointed as Colorado’s State Bank Commissioner in July 2015 after serving as the State Commissioner of Financial Services for nearly 10 years. As the State Bank Commissioner, he is responsible for all examination and enforcement functions of the Division of Banking, subject to the policy- and rule-making authority of the Banking Board, for all Colorado state-chartered commercial banks, trust companies, and licensed money transmitters. In addition, he is responsible for enforcing the Public Deposit Protection Act.
He had served as the State Commissioner of Financial Services from 2006-2015.
He previously worked in the private sector as a consultant serving in a number of management capacities throughout the United States, specializing in the areas of mergers and acquisitions, regulatory, legal and compliance, marketing and business operations.
Commissioner Myklebust is a graduate of Regis University in Denver where he earned a Bachelor of Science degree in Business Administration with an emphasis in Management. He also holds a degree in Electronics Engineering Technology and has been professionally licensed in securities and real estate.
Denver, CO 80202