Hawaii's Department of Accounting and General Services is updating its financial and budget systems to replace outdated technology and improve management practices. Yovo Stefanov has been appointed as the first Director of the Business Transformation Office to lead this effort. Stefanov will use his experience in IT and change management to support the project. According to the Department of Accounting and General Services, "Yovo’s job is to leverage the latest technology and best practices to improve the financial management capabilities of state departments, agencies, and elected officials by giving them accurate financial information in a timely manner so they can make informed decisions for the state."
Stefanov worked at Hawaiʻi Gas and spent four years at First Hawaiian Bank. He said, "I was a compliance systems manager at FHB for four years managing anti-money laundering efforts that included fraud, risk management and compliance, and related strategic initiatives." He added, "Our biggest project was to convert a 40-year-old mainframe system into modern banking software.” Stefanov noted the similarity to the Department of Accounting and General Services’ 55-year-old Legacy Financial Management System.
Keith Regan, Department of Accounting and General Services Director and Comptroller, said, "He will guide the changes related to EFS, from preparation to deployment, with a strong emphasis on change management." Stefanov has experience in the real estate, technology, and utility industries and holds a bachelor’s and master’s degree from Hawaiʻi Pacific University. He is a former professional soccer player and is involved in sailing, kitesurfing, and coaching youth soccer. His appointment marks a change in the Department of Accounting and General Services’ financial system.
