WCHG Maintains its Top Ratings for Governance and Financial Viability
Wythenshawe Community Housing Group is delighted to announce that it has maintained its highest regulatory ratings a housing association can achieve with G1 for Governance and V1 for Financial Viability following an in-depth assessment conducted by the Regulator of Social Housing (RSH).
The objectives of the Regulator are set out in the Housing and Regeneration Act 2008, and covers economic regulation, focusing on governance, financial viability and value for money that maintains lender confidence. The regulator also sets consumer standards and takes action if these standards are breached and there is a significant risk of serious detriment to tenants or potential tenants.
As part of the process they conduct In-depth assessments (IDAs) which are a tool that was introduced in 2015 by the Homes and Communities Agency (HCA). IDAs explore housing associations compliance around the below components and if their existing regulatory judgments need to be revised. WCHG’s ratings reflect the Regulator’s confidence on the way we govern, manage and our position around financial stability.
Strategy
Structure
Financial Resilience
Risk Profile and Mitigations
Governance
Group Chief Executive Kevin Lowry said, “We are immensely proud with the results of the IDA, retaining these top ratings for governance and financial viability is a strong reflection on the hard work, commitment and dedication of all our colleagues. Despite receiving these great results we will not become complacent, we will not tire to look at new ways of improving our services for our customers which are already built on firm foundations. WCHG will continue on its journey to provide 836 new homes by the year 2020, to transform more lives leaving a lasting legacy for generations to come”.
The Bishop of Manchester, The Right Reverend, Dr David Walker, Group Chair of WCHG said, “This is an excellent endorsement of the strength of WCHG. Good governance and robust financial viability are what allows us to work alongside our tenants, partners and the people of Wythenshawe, to ensure this continues to be a great place to live and learn, play and work”.
