Plot 6 Nakasero Road, Rwenzori Towers, 1st Floor, Wing B
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The Bank has in place a fully constituted, broad-based and independent Board of Directors, who exercise control over the Bank, determine the overall strategic direction of the Bank and provide oversight to the Bank’s Management team. The Board is composed of one executive director, one non-independent non-executive director and 5 independent non-executive directors, one of whom is the Chairman. The Board’s operations are clearly guided by the Board Charter and committee terms of reference. To enhance its effectiveness, the Board is constituted into three committees – namely Board Audit & Risk Committee, Board Strategic Planning Committee and Board Credit Committee; the mandate of these committees is articulated below;
At the helm of Management is an 8-member Executive Committee (EXCO) headed by the Managing Director, and with other members being Director Finance & Business Operations, Director Strategy & Corporate Affairs, Director Investment, Director Credit, Director Research & Knowledge Management, Director Risk and Bank Secretary/Head of Legal. The EXCO, appointed by the Board, is accountable for the day-to-day management of the Bank and the implementation of all Board-approved policies, strategies, budgets and plans.
The Bank has in place a Board-appointed Chief Internal Auditor who provides independent assurance to the Board and Management on the effectiveness of internal control environment. Further, UDBL has a Risk Management unit whose mandate is to proactively anticipate probable risks that may face UDB and ensures that appropriate mechanisms are in place to mitigate the occurrence and/or minimize the effects of these risks if they crystalized.