We're very pleased to welcome a positive regulatory judgement, following a recent In-Depth Assessment (IDA) carried out by the Government's Regulator, the Homes and Communities Agency.
As a result of the assessment, the Regulator has judged that RBH has been upgraded to the highest governance rating (G1) and remains on the second-highest viability rating (V2).
All housing associations now receive an In-Depth Assessment every three to four years. The 2017 assessment was the first for RBH since we transferred from Rochdale Council.
Gareth Swarbrick, Chief Executive of RBH, said:
“We are very pleased with this regulatory judgement which recognises the work that our employees, working together with our tenants, do every day, in what we know can often be challenging circumstances. I'm extremely proud of the hard work that our employees, tenants and board members have put in together to ensure that the judgement was positive.
Our mutual model puts our tenant and employee members at the heart of our decision-making and we are pleased that the regulator agrees that our governance arrangements deliver effective decision-making and risk management. We want to continue to deliver for our tenants and communities which means utilising our resources to best effect."
The HCA rating of G1 shows that the regulator believes that RBH is meeting the requirements set down on governance. The V2 rating, means that the regulator believes that the requirements on financial viability are being met but that RBH continues to have risks and challenges to manage.