Stephen Hamya is the Chief Internal Auditor at Uganda Development Bank Limited. He joined the Bank in July 2014 and has consistently proved to be an invaluable asset through his impassioned engagement of UDB Management in strategic projects and key initiatives that continue to improve and preserve organizational value. Stephen’s work with the Credit team in rolling out a credit risk scoring model for SMEs, his guidance on the parameters and related inputs has transformed the Bank’s operations.
He was pivotal in the Bank’s implementation of the new IFRS 9 Expected Credit Loss (ECL) model. He was also project lead on the review of the Bank’s customer-related loan data to address system-related challenges. A champion of Employee Engagement, Stephen serves on an internal committee tasked with creating and maintaining high levels of engagement among the Bank’s staff. He is instrumental to the development of the Bank’s annual reports due to his commitment to excellence. Through his tireless efforts, UDB has won Financial Reporting Awards (FiRe) on several occasions, including overall winner in the Financial Services Category in Uganda in 2018.
Prior to serving at UDB, Stephen worked with Ernst and Young Uganda as an Assurance Senior Manager where he oversaw a portfolio of over 30 clients in various sectors covering financial services, telecommunication, manufacturing, not for profit, oil and gas, fast-moving consumer goods, stated-owned entities, and pension funds among others. He was responsible for the direction and supervision of audit and related assignments in line with the firm’s methodologies. Stephen was a key member of the Firm’s Professional Practice Group (PPG) within the East African Region in charge of training and implementation of all audit related software; he pioneered the use of data analytics tools and the Firm’s audit software that was launched during his tenure with the audit firm.
While at Ernst and Young Uganda, he was seconded to work in the firm’s Financial Services Office in Zurich, Switzerland and also worked in the firm’s Rwanda office. Stephen is a Fellow of the Association of Chartered Certified Accountant (FCCA), a Member of the Institute of Certified Public Accountants of Uganda (ICPAU), a Member of the Institute of Internal Auditors (IIA) and an Associate Member of the Association of Certified Fraud Examiners (ACFE).