Risk Management & Assurance

The housing association sector continues to operate in a climate of considerable uncertainty, shaped by the aftershocks of recent economic disruption. These pressures have increased the financial complexity of both building new homes and managing existing stock.

When combined with the ongoing lack of clarity around future government policy on rents and grants, they underline the critical need for effective risk management. For the sector as a whole - and especially for organisations like English Rural with a focus on strategic growth - maintaining a flexible and responsive approach to risk remains more important than ever.

Our approach to identifying and managing risk is guided by the Risk Management and Assurance Framework, which is regularly reviewed and actively informs decision-making at Board level. Oversight is provided by the Group Audit & Risk Committee, with risk evaluated across all areas of activity. Strategic risks are captured within the Group Strategic Risk Register, which is updated annually and benchmarked against the Sector Risk Profile published by the Regulator of Social Housing.

The Group Audit & Risk Committee plays a central role in ensuring a robust and informed approach to risk. Its work gives the Board confidence that appropriate controls are in place. In addition to its responsibility for approving an annual programme of internal audits, the Committee has continued to focus on wider strategic risk oversight. This includes reviewing risk exposure across the organisation and agreeing the range of stress testing applied to the long-term financial business plan, ensuring we remain resilient in the face of future challenges.

As we navigate an uncertain time within the housing association sector, the importance of diligent risk management cannot be overstated. Our approach to the identification, understanding, and control of risk is guided by our Risk Management and Assurance Framework.

Through rigorous stress testing and scenario planning, we ensure that English Rural remains resilient and able to adapt to changing circumstances, always prioritising the needs of our residents and the investment in our current homes.

Philip O'Dwyer, Chair,
Audit & Risk Committee