English regulator upgrades governance grade of two providers

The RSH said that based on evidence gained from reactive engagement, it “has assurance that SLH has strengthened its governance to better achieve its corporate objectives”.

“It has addressed weaknesses in its internal control framework by enhancing its procedures for managing conflicts of interest, and improving the quality and accessibility of information in its assets and liabilities register,” the regulator said in its report.

“Under new leadership, SLH has also undertaken a comprehensive review of its operations with external support. This has led to a better consideration of risk and return in its activities and has resulted in the implementation of a new development delivery model. SLH has established a new value for money strategy with measurable targets linked to its corporate objectives.”

Anna Bishop, chief executive of South Liverpool Homes, said: “This is a significant achievement which is testament to everyone who has played their part in this transformation journey so far.

“We have put in place lasting processes and controls that underpin everything we do, and it’s important that we continue to build on this positive progress by working together in an inclusive environment that fosters openness and accountability.

“We are committed to putting our customers at the centre of everything we do, and this judgement demonstrates that we are in a strong position to continue investing in and improving our services to them.”

David Jepson, chair of South Liverpool Homes, said: “We aim to achieve the highest standards in everything we do, so this latest judgement is welcome news for everyone.

“It is pleasing that the regulator recognises the substantial progress we have made to improve our governance arrangements, which has been a huge team effort from the executive team, board and colleagues from across the organisation.

“Our vision is to deliver great homes, strong communities and bright futures and it’s reassuring to know that we are on the right path to deliver this ambition with a robust board, a committed workforce and strong financial foundations.”

Croydon Churches Housing Association

The RSH said Croydon Churches Housing Association (CCHA), which manages around 1,500 homes across three London boroughs – Croydon, Sutton and Bromley – has improved its financial assurance framework and financial reporting, and strengthened its board skills.

In its previous judgement in June 2022, the regulator noted that CCHA needed to make improvements to the board’s oversight of business and financial planning, including stress-testing, to “ensure adequate scrutiny and oversight of its activities and key risks”.

The RSH said that based on evidence gained from reactive engagement, it has assurance that the CCHA board has “developed and improved its collective understanding of financial performance, and its ability to make decisions and challenge the executive on financial matters”.

“Board skills have been strengthened in relation to business and financial planning,” the regulator said in its report. “Recruitment and succession planning reflect a rebalancing of finance, customer focus and asset management skills on the board.

“A review of financial reporting has delivered improvements in the accuracy, consistency and timeliness of information received by the board and regulator.

“Gaps in the financial assurance framework have been addressed, and there have been improvements to the wider risk management framework.

“Terms of reference for the board, committees and leadership team have been reviewed to clarify responsibilities in relation to financial planning and stress-testing, treasury management, and asset management.”

Tracy Cullen, chief executive at CCHA, said: “We are extremely pleased with the outcome of our latest judgement. The board and executive team have taken a collaborative approach and worked hard to improve our internal systems over the past 18 months. This has been a positive process, and we would like to thank the regulator for its support.

“The measures taken will protect the services that we provide to our residents, which has always been our first priority.”