Financial Statements 2020 | 27
Corporate Risks
Below is an extract from the May 2020 Corporate Risk Register showing key risks and mitigations . The residual / net risk score is after controls and mitigations have been applied and is out of a maximum risk score of 25 .
Corporate Risks
Residual / net risk score
Mitigations
Business interruption , service delivery , financial impact and unavailability of key staff to deliver essential services as result of the Covid19 pandemic .
Local Authority budgetary pressures leading to financial pressure on C & S services .
20 n Adopted an NHS style major incident response with daily structured teams and communication
n Adopted command and control approach to leadership , decision making and business continuity arrangements
n Social distancing policies in place with staff being redeployed wherever possible to home working
n Government guidance being followed to ensure consistency in protecting customers and colleagues
15 n Strong strategic relationships maintained with Local Authorities along with a proactive approach to contract management
n Appropriate exit strategies in place for any “ at risk ” services
n Strategic approach to growth including increasing geographical coverage to reduce reliance in individual Local Authorities
Repairs service failure leading to unsatisfactory repairs , stock standard reduction and potential safety concerns and associated reputational damage .
Quality management shortcomings in care and support services leading to regulatory action , potential safety concerns and associated reputational and financial impact
Non-compliance with standards in Regulated Services leading to regulatory ratings impacting on reputation & financial performance or business development .
Homes England development programmes not delivered leading to potential contract failure potentially resulting in reputational damage or regulatory action .
15 n Quality management systems in place , including post inspections and stock condition surveys
n Performance and legal compliance assessed through a suite of KPI ’ s and reports
n Trend analysis on complaints and customer services is also undertaken to detect patterns and trends for improvements
15 n Strong quality management framework in place , led by an established and experienced team
n Performance metrics from both a quality and financial perspective reported regularly to be Board and senior management to ensure that there is appropriate engagement and scrutiny in place
n Safeguarding Scrutiny Panel with an Independent Chair which oversees all areas of safeguarding
15 n Designated experienced team in place with regulatory knowledge and oversight
n Policies and procedures which conform to the regulatory standards in place and regularly updated to ensure compliance
n Regular reporting to Board on compliance with necessary standards including an annual assessment of compliance with both regulatory standards and the NHF code of governance
15 n Programme management controls are in place to deliver schemes as planned
n Clerk of Works and Quantity Surveyor are appointed for each development to drive best value
n Governance arrangements for the Matrix Partnership have recently been revised to ensure that there is a renewed focus on delivery