Risk Impact HowWeManage Risk Our financial viability is not fully protected • Unable to deliver services • Unable to deliver the commitments in the corporate plan – “go to” agenda • Regulatory consequences • Reputational damage • Reduced investment capacity • Reduced access to funding • Long term financial plan (LTFP) in place • LTFP includes the approved Arhag annual budget and operational cashflows • Financial health indicators in place that monitor financial viability including financial covenant position • Stress testing regime implemented with Board • Financial health indicators discussed monthly by the Senior Management Team and on a quarterly basis by Audit and Risk Committee Funding challenges • Insufficient liquidity to meet our obligations • Unable to deliver services • Unable to deliver the corporate plan commitments • Regulatory consequences • Reputational damage • Reduced service & investment capacity • Prudent liquidity policy that excludes capital receipts • Financial returns to the Regulator of Social Housing shared with Audit and Risk Committee and Board • Monthly monitoring by Senior Management Team • Lender relationship management led by Chief Executive Officer / Director of Finance & Resources. We are not compliant with data protection legislation • ICO fines / sanction • Individual and / or class legal actions • Regulatory consequences • Reputational damage • Mandatory data protection training for all staff • Reports on staff completion of mandatory training • Robust data protection processes and procedures in place Our business continuity plans are inadequate • Disruption to service delivery • Poor customer service • Financial consequences • Criminal and/or civil prosecution • Regulatory consequences • Reputational damage • Business continuity working practices in place to oversee arrangements • Local incident management teams are set up • Stress / scenario testing carried out annually • Core service information is backed up daily and replicated to the Cloud Inability to attract/retain talented staff • Poor customer service – increased customer dissatisfaction • Supporting and professional services are unable to support frontline delivery • Loss of corporate memory • High staff turnover impacts remaining staff negatively • Increased recruitment and reward costs • New Senior Management Team in place providing consistency to staff • Building our Foundation – programme will identify and implement peoplebased improvements (People Strategy) • First People Strategy sessions held with over 50% staff attendance. Annual Report 2021-2022 19
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