Governance and Regulation
Our chosen code of Governance is the National Housing Federation Code Excellence in Governance.
The Homes and Communities Agency (HCA) as the regulator for social housing, maintains an assessment of compliance with the economic standards for all private registered providers with more than 1,000 homes.
They prepare regulatory judgements against the standards and issue ratings on a scale of 1 – 4 with 4 being non-compliance and cause for possible regulatory intervention or enforcement action. We have achieved V1 for Viability "The provider meets the requirements on viability set out in the Governance and Financial Viability standard and has the capacity to mitigate its exposure effectively" This demonstrates that we are a well-run and viable organisation"
We have received a rating of G2 for Governance which is defined as "meeting the requirements on governance but needs to improve some aspects of its governance arrangements to support continued compliance" In this case, the HCA recommend that our Value for Money Assessment needs to be more transparent and accessible to enable our stakeholders to understand how we are achieving value for money. We are working with the HCA to implement the necessary changes to achieve the top rating of G1.
We have a robust framework in place to identify and mitigate any potential risks. Although we have incorporated risk reviews as a requirement for all project plans or service developments, we have ensured that the process is simplified and results in a useful tool for the teams involved.
As part of our commitment to continuous improvement, we set challenging targets and assess our performance against previous results and by benchmarking with other Registered Providers (RP) of social housing of a similar size and composition. We also benchmark our performance against other organisations in different sectors and "best in class"