For many of us, September heralds a new start, reminiscent of going back to school, and it’s also time to tackle all those things put off until ‘after the holidays’. Here are some of the priorities you might want to consider in the coming weeks based on our conversations across the sector.
- The RSH is getting much more diligent on data returns and quality/accuracy. If you have a 31 March year end your FVA (Annual Accounts Return) is due by 30 September. Are you on course to submit and are you confident that you have completed the return correctly?
- VfM is a hot topic for the Regulator and one that is bringing more focus. Are you aware of the requirements to determine organisation specific metrics, do you have an updated VfM strategy in place and can you demonstrate that this is embedded throughout the organisation?
- We’ve identified that there is a significant pressure on development resources at the moment, particularly in London and the South East where RPs are competing with private developers. Are you able to fully resource your programme?
- IR35 will impact RPs from 1 April 2020. Is your organisation compliant?
- Stress testing of the business plan continues to be high on the agenda particularly around Brexit risks and mitigations . Have you tested your plan and had your results validated?
- The summer gives people time to reflect and many return in September with plans of changing job and/or retiring. Do you have any Board member retirements coming up? If so, do you have a succession plan?
- Executive reward is a hot topic across a number of sectors, including housing, with organisations balance the requirements of providing an appropriate level of reward with the need to developing an approach which attracts and motivates the right calibre of individuals. Some key areas to consider include:
- Are you paying the right level of reward to your executives based on market comparisons?
- Is your overall strategy fit for the needs of the business – including reference to any bonus schemes and the wider total reward package?
- Have you considered how your approach fits with areas such as; gender pay and ethnicity pay reporting, chief executive pay ratio reporting, increased requirement on transparency and accountability (as detailed in the FRC Corporate Code) etc.
- Property compliance post Grenfell. Have you provided sufficient assurance for the board and executive as part of the assurance framework/regulatory compliance? Are you acting on the findings of your fire safety reviews?
- If a member of your Executive Team decided to take a permanent holiday do you have a succession plan?
- IDAs are constantly evolving. Are you prepared for the next round?
If any of the above are on your mind and you would like to discuss mitigations and solutions please contact Jim Lashmar on 07968 616550 email@example.com or your usual Altair contact.