If your dam is leaking, I'd take a good look at what is down stream. A slow leak can turn into a trickle, then a stream, and tear out your dam in short order. You may be OK if the pond generally stays below the leak level now, but what happens if you get a really we spring or a couple of major back to back storms? Once the level gets high enough to start the leak flowing, it can erode thing down pretty quickly.
Hard to say what the risk is without seeing your set-up, but worth taking a close look at. Hopefully you or a neighbor don't have anything valuable in the potential flood zone