DORA Executive Director appoints Chris Myklebust as Department’s Deputy Executive Director
DENVER -- Colorado Department of Regulatory Agencies (DORA) Executive Director Marguerite Salazar announced today that she has appointed Chris Myklebust to serve as Deputy Executive Director of DORA.
As the former State Bank and Financial Services Commissioner, during his time at DORA, Myklebust oversaw two separate financial divisions -- the Division of Banking and the Division of Financial Services.
“Chris brings both vision and experience in creating a fair regulatory environment and building public trust while keeping consumers’ interests at heart,” noted Executive Director Salazar. “Plus, Chris comes to this position knowing DORA inside and out. As a former division leader himself, he can adeptly support all DORA divisions with their strategic performance objectives. I couldn’t be more pleased that he said ‘yes’ to returning to DORA in this new role.”
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.
“I was extremely honored when Executive Director Salazar reached out to me about this role,” he said. “I worked with her while she served as Insurance Commissioner and have enormous respect for her, the important work of every division, the professionalism of the staff, as well as the positive and proactive culture at DORA, so it didn’t take me long to consider the offer to come back as Deputy Executive Director. More importantly, I look forward to resume working on behalf of the people of Colorado.”
Myklebust’s appointment is effective as of today.