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Workshop one: Stress testing and risk
- Type HQN Event (Virtual)
- Venue Virtual workshop
- Start 17 Jun 2021 10:30
- End 17 Jun 2021 13:00
“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?).
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:
Discounted prices are available when you book both workshop sessions, click here for more infomation and to book.
Full price: £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 firstname.lastname@example.org
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.