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Two day event: Wise before the event – how to get ready for your IDA
- Type HQN Event (Virtual)
- Venue Virtual workshop
- Start 17 Jun 2021 10:30
- End 24 Jun 2021 13:00
HQN is running two accelerator workshops to help registered providers prepare for an In-Depth Assessment. We have a proven formula for success that we will share.
Helpfully, the Regulator of Social Housing has published the results of an independent survey of those who have been through IDAs.
It sets out the changes these landlords put in place after an IDA. Why don’t you do these before an IDA?
It’s what the RSH wants to see, they all make sense, and you will maximise the rating. That’s a win win win.
“Greater focus on stress testing”
This is the change 59% of RPs made thanks to an IDA but it’s time to get ahead of the game.
During this session we will:
- Explain the RSH requirements (including making practical use of the stress factors identified in their annual Sector Risk Profile)
- Show how G1/V1 landlords approach stress testing (make sure the stresses are comprehensive, layered on top of each other and tailored to the actual RP so they are relevant and come to life for the board)
- Outline the key ingredients of emerging scenarios you can adapt to your circumstances (such as Covid recovery and the Green Swan decarbonisation stress tests recommended by the Bank for International Settlements)
- Take you through the mitigations G1/V1 landlords are applying to counteract risks
- Demonstrate how you can use your business planning models to show the impact of particular stresses and mitigations on your various covenants and golden rules
- Give practical examples showing how stresses can breach covenants aligned to strategies for offsetting these (note: all mitigations need to be prudent and not just a means to avoid a covenant breach - cutting repair cost to the point where safety is at risk is simply not an option)
- Explain the role your board must play in stress testing – they must grasp the key risks, understand the early warning signs of a risk emerging and what to do when it does – stress testing must be tough – “What is difficult in training will become easy in a battle” Alexander Suvorov
- Learning the lessons from Covid – this was a classic Black Swan event – how should we mobilise for any such surprises in the future?
“Greater focus on risk appetite and risk reporting at Board level”
About one third of RPs went to work on this after an IDA.
We will cover:
- Good practice on setting and reporting on risk appetites
- Techniques for setting your risk appetite – the scoring and ranking options explained
- Matching risks to plausible mitigation strategies that actually work
- Putting in place the lines of defense – sharing good practice on management controls, using internal auditors and independent technical experts (on the big safety risks of fire, gas, electrics, water, asbestos and lifts)
- Dealing with damaging new risks such as cyber crime
- Managing sales and development risks as the market flexes after lockdown and Brexit
- The emerging lessons from the Grenfell Inquiry on commissioning experts, reporting to board and listening to residents
- Ensuring you are ready for the new challenges coming through the Charter for Social Housing Residents such as identifying and supporting the nominated officers for safety and the Consumer Standards and preparing for service inspection
- Alerting you to the dangers of fake assurance from traffic light reports (Is green always good? What was the sample size? Who makes the judgement call? Can you rely on them?).
According to the RSH, too many RPs remain behind the curve when it comes to getting the right mix of people on their Board and producing succinct, up to date and accurate papers. We can help.
“Reviewing skills gaps in Board membership”
About a quarter of landlords took steps to upskill boards after their IDA. Our session will cover:
- Identifying the core skills and attributes all boards need to run the business and meet regulatory requirements
- How to specify the particular blend of skills and attributes needed at your board based on your size, specialisms and areas of exposure to risk
- Explaining what the RSH is looking for when it examines your governance reviews, skills audits and appraisal records
- How to make sure the resident voice is heard clearly in the boardroom (whether through board membership and/or the use of panels and other forms of consultation)
- How to avoid the known pitfalls that catch out even the most skilled boards, such as groupthink
- How to keep the skills base refreshed and in tune with changing times (Do you have members with any knowledge of combating cyber-crime and removing carbon from homes?).
“Reviewing presentation materials to ‘thin out’ Board papers and make them more digestible”
This is what 28% of RPs tried to do following their IDA. Frankly, we thought the figure would be a lot higher! Separating the wood from the trees is akin to the labours of Sisyphus. No sooner have board members got through one 300-page board pack and the next one thumps onto the doormat (or clogs up your iPad).
For HQN, this is one of the most serious issues facing boards. It is all too easy to miss important things and fail to ask the right questions. This lies at the heart of why boards with great CVs make big mistakes.
We will cover:
- Planning for meetings to ensure important matters for decision get the time and focus needed
- The role of the chair in planning meetings and making sure the right questions get asked and answered
- Writing succinct reports that give all the pertinent facts with clear options for decisions
- How to present complex financial information in a straightforward manner
- (including use of graphs)
- Keeping clear sight of risks as they pass through various meetings such a main board, risk and audit and development
- The effective use of awaydays to get under the skin of thorny issues.
Who should attend?
- Chief executives
- Executive teams
- Board members (including resident members)
- Governance staff
- Audit and risk teams
- Senior staff responsible for compiling Board reports
- Anyone involved in the IDA process.
The two workshops can be booked separately below:
Full price: £150.00 *
Individual workshop: £99.00 *
* Please note that all prices are subject to standard VAT. Byte Size members do not qualify for member discounts or free places at this event. Please call 01904 557150 for more information.
Cancellations and substitutions:
If you are unable to attend an event or public training course, please let us know in writing (email is fine) at least 48 hours before. Please email email@example.com
Otherwise, a cancellation fee of £60 plus VAT will be chargeable.
If you are using a package place to attend and do not inform us within the agreed time frame, then a place will be taken to cover your non-attendance.
Cancellations must be made in writing, and will be acknowledged by HQN Limited.