We maintain a risk map to identify and assess the principal risks that could affect our residents, homes, services, finances, governance and ability to deliver more affordable rural housing.
Each risk is assessed before and after the controls in place are considered. The map records three levels of assurance.
- Operational controls and monitoring
- Oversight by the rural housing association boards and relevant committees
- Independent assurance, including external audit, accreditation, specialist advice and regulatory review where appropriate
The boards oversee the risk-management process through regular performance, compliance, financial and strategic reporting. The risk map is reviewed and updated to reflect changes in the operating environment, with further action taken where controls or assurance need to be strengthened. This approach helps us manage risk responsibly, remain financially resilient and continue providing safe, good-quality homes and services to rural communities.
We take a balanced and proportionate approach to risk, considering each risk on its own merits and in the context of the circumstances facing the sector, locality and the Association. Decisions are made with careful regard to the potential impact on residents, services, finances, reputation and our ability to achieve our objectives.