Benefits
For more detailed information, visit the Department of Administrative Services (DAS) web site
The State of Iowa’s commitment to its employees is demonstrated by the compensation and benefits package provided to you by the State of Iowa. In addition to your direct compensation as a State of Iowa employee, a significant amount is spent on the benefit plans available to you and your family. As a Division of Banking, Bank or Finance Bureau employee, you are an executive branch employee, non contract and non Merit.
Iowa Public Employees’ Retirement System (IPERS)
IPERS is a “defined benefit” retirement plan. A defined benefit plan uses a set formula to calculate benefits at retirement, providing a lifetime monthly benefit that cannot be outlived. You and the State of Iowa contribute a set percentage of pretax pay to IPERS. The deductions come out of the check automatically. More information is available at the IPERS website.
Health Insurance
Employees have two comprehensive health insurance plans from which to choose: a statewide plan and a nationwide plan. The cost of the premium is shared by the State and the employee.
Dental Insurance
The dental plan provides coverage for a broad range of preventive services and comprehensive coverage for most conditions requiring dental diagnosis and treatment, including orthodontic treatment for children.
Life Insurance
The State of Iowa’s life insurance plan provides your family financial protection in the case of your death. If you are a full-time employee, the life insurance plan provides you with a basic term life insurance benefit at no cost to you ($20,000). In addition, you have an opportunity to purchase additional life insurance coverage at very economical group rates through payroll deduction.
Long-Term Disability Insurance
The State provides you with long-term disability insurance if you become disabled. The State pays the full cost of this life insurance coverage. The State of Iowa’s long-term disability insurance provides for a monthly benefit of 60 percent of the employee’s annual earnings, up to a maximum of $36,000.
Employee Assistance Program
The Employee Assistance Program (EAP) is a confidential, professional service to help you and your family members deal with problems before they begin to affect your health, happiness, or success.
Employee Discount Programs
The Employee Discount Programs allow you to save money by offering savings on popular goods and services.
Flexible Spending Accounts
You may defer up to $3,050 per year for unreimbursed health and dental expenses on a pre-tax basis and up to $5,000 per year for dependent care expenses on a pre-tax basis.
Workers’ Compensation
All employees are covered by the State of Iowa Worker’s Compensation Law. The law covers on-the-job accidents and occupational diseases. Benefits are determined by the State of Iowa statute.
Retirement Investors’ Club (RIC)
The Retirement Investors' Club (RIC) is a voluntary retirement savings program that allows the employee to set aside a portion of their salary to help supplement the state-sponsored retirement plan and Social security benefits. There are no vesting requirements in this program. The State matches up to $75 per month.
- Paid Time Of
- As a full-time employee, you will receive paid time off for vacation and sick leave. You will begin accruing two weeks of vacation and eighteen days of sick leave annually when you start. The amount of vacation you receive increases periodically after you have been employed a certain number of years.
- Employees also receive nine paid holidays each year; and two unscheduled holidays are added to the employee’s annual vacation accrual.
Culture
Thinking about the Iowa Division of Banking's culture, what would you want an applicant to know about working for the division?
"When I first started, I was impressed with my mentor's training style. She was helpful in making sure I was introduced to new areas at a pace that fit my learning abilities. My entire regional team was also very supportive and eager to help me learn and grow as an examiner." -Examiner
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"I have moved three times during my career for my husband’s career advancement. The one constant with each move was that my job with the IDOB went with me. It is something I have always greatly appreciated about the Division. " -Tracy Crail, Examiner
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"Teamwork. That is something we strive for at the IDOB. Once you meet your crew, they become like family." -Kayla Coronado, Examiner
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"The IDOB provides a team atmosphere that allows you to develop individually in a professional environment." -Alexander German, Examiner
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"I’m now going on my 10th year with IDOB and my only wish would be that I might have started 10 years earlier. It’s been a fun ride. The people here are human and care about you both professionally and personally." -Daniel Siems, Examiner
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"At the IDOB, staff are always going out of their way to help others. We donate to the local food banks and Toys For Tots each year. We really try to look out for each other too though by celebrating a life event with a coworker or providing assistance to one who is having a hard time." -Brandy March, Executive Officer
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"We have a group of professionals that care about their co-workers, with a desire to provide assistance and recommendations to individual banks and bankers to allow them to succeed; opportunities exist for examiners to continue to learn regardless of their level of experience." -Examiner
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"We all work as a team and help each other out when needed! There is always someone to call if you need help." -Halie Jorgensen, Examiner
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"The Iowa Division of Banking is a great place to work with a positive team atmosphere, unlimited training opportunities, supportive colleagues, amazing benefits, and wonderful work-life balance." -Hayley Brauns, Examiner
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"I think if I had to describe the IDOB's organizational culture in two words that would be informative for applicants, I'd choose "respect" and "stability.” I'd say "respect" because I think the IDOB operates with a high level of respect for all of its employees, at all levels. Seniority certainly exists, but I don't perceive any strong distinctions between junior and senior employees, or between the bank and finance bureaus, etc. Everyone has a role to play and is respected for it. And I'd say "stability" because so many of our employees have been around for a relatively long time. The IDOB's unique mission encourages longevity, because we really do get better at our jobs the longer we do them and it is a relatively steep learning curve at first. But for people interested in developing a specific skill set that will be cultivated over time, valued, and retained, the IDOB would be a good fit." -Executive Officer
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"Best of both worlds. The division is small enough to have an immediate impact when hired, yet has the resources to offer the training necessary to become successful." -Zac Smith, Examiner
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"At the IDOB everyone is welcome and treated with respect and dignity. The culture is positive with a hard-working, ambitious attitude. The desire to succeed creates a friendly element of competition that pushes everyone to contribute and pitch in to complete our work and move on to the next assignment. After my first statewide annual meeting I made comments about the positive and friendly culture to a colleague who responded, 'It's like one big family!' " -David Cronin, Examiner
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"I would want an applicant to know that it is a team atmosphere. You will always have the opportunity to learn from and ask questions to individuals with great experience in the banking and regulatory industries. Secondly, working for the division always brings variety to your career, you will get the opportunity to work with countless bankers and people which is something that I really enjoy." -Austin Halls, Examiner
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Thinking about your professional responsibilities, what would you want an applicant to know about working for the IDOB?
"Working at the IDOB makes the complexity of examining a bank become straightforward and simple. From experienced and specialized examiners to examiner trainees there is a team at every bank completing the exam with everyone capable of fulfilling a leadership role to ensure all tasks are completed. The diversity of assignments and progression of training enables capable people who know nothing about examining banks when hired to quickly become qualified and dependable team members." -David Cronin, Examiner
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"The IDOB allows examiners to experience a dynamic work environment working both individually and as a team. The Division also gives examiners the opportunity to work with numerous banking professionals throughout the state of Iowa on a weekly basis." -Alexander German, Examiner
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"Our job allows us to interact with bankers and examiners all over Iowa. Bank examiners are adaptive as they transition from one work environment to another." -Examiner
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"Working at the IDOB allows you to be exposed to many areas of banking. Every institution is ran differently, so I go into every examination planning to learn something different." -Kayla Coronado, Examiner
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"Community banks in Iowa are quite diverse. The breadth of experience gained from examining such a large number of institutions makes the career unique. Knowledge expansion is rapid, with exposure to many areas." -Zac Smith, Examiner
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"IDOB staff have a strong reputation for being among the best in the banking industry. Supervisors and staff leverage their strengths and willingly teach co-workers to improve their capabilities. We use the team approach and rotate duties in an effort to be interchangeable in all aspects of an examination. This approach fosters team unity." -Examiner
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"Employees are expected to be able to perform their job without constant oversight or supervision. This does not mean that you will not have adequate training or resources, it just means you won’t be micromanaged and are expected to speak up when you need support or guidance. I think that IDOB strives to employs individuals who have initiative, drive and experience in their roles. " -Executive Officer
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"Everyone relies on everyone at the IDOB. This means that constant communication, willingness to learn, and accountability are needed in an applicant. You must be willing to work with others and work well on your own." -Austin Halls, Examiner
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"We are exposed to many different areas of banking, get to meet and work with new individuals, and push ourselves to learn each and every day!" -Halie Jorgensen, Examiner