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Large Welsh landlord under review after regulator raises concerns over lack of executives
Large Welsh housing association Trivallis has had its regulatory judgement placed under review after the country’s regulator raised concerns about the absence of senior executives in its management team.
The Welsh regulator told the Pontypridd-based association that the absence of its senior team means it does not have the necessary management capacity. It also raised concerns that Trivallis had not provided the necessary assurances to support its current regulatory status.
In a statement, the 12,000-home landlord said it was important to point out that the regulator does not have any concerns about tenant safety or the services the association provides to them.
It added that it did not expect its tenants, their leases or services to be affected by this announcement and they will continue to receive all services and maintenance as normal.
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The association’s board has now taken steps to address the concerns raised by the regulator and has signed a voluntary undertaking, which is a legal document that sets out exactly what actions must be taken and by when.
That includes several in-depth reviews of structures, governance and management arrangements, and financial assumptions.
Trivallis explained that voluntary undertakings and the resulting independent reviews are a common method for boards and the regulator to agree necessary actions and improvements.
The board has also appointed four senior independent advisors – who have many years’ experience between them in social housing, leadership and finance – to assist with the governance work.
Jonathan Huish, chair of the board at Trivallis, said: “Colleagues and tenants can rest assured that Trivallis will be stronger and better after this process with the regulator.
“Notwithstanding the work the board must now do to provide all necessary assurances to the regulator, the focus must always be on our tenants and colleagues and meeting their needs.
“We will continue to help people find homes and provide them with the support they need to sustain their tenancies with us. That means that all servicing and maintenance work will continue, as will new build and refurbishment works.”
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