Author Kate Lindley Service Lead - Digital and Data
The annual sector risk profile has been released by the Regulator this week, reflecting the changing risk landscape and challenges currently facing social housing.
Unsurprisingly, there's a heavy focus on the need for providers to balance investment in existing stock with continued development to support meeting housing need - and a far greater focus on the macro-economic environment, along with the necessity to ensure effective tenant engagement in line with the intent of the White Paper.
The theme of data runs strongly throughout the whole risk profile - ranging from the explicit risks stated around data security, through to risks that rely on data and an effective control framework of mitigation such as the necessity to have robust data on stock quality ahead of changes to the Decent Homes standard and effective targeting of decarbonisation initiatives, through to making sure the processes and data about your assets keeps tenants safe in their homes.
Data and technology are the invisible elements that underpin almost everything that's done in housing - from housing and asset management and customer engagement, through to development, sales and financial control, but are often seen as 'back office' functions rather than critical enablers of service delivery and efficiency.
As the balancing act between investment in current stock and financing future development becomes more challenging, against a wider background of uncertainty, the necessity to provide robust data and digital foundations to ensure compliance, enable value for money – and optimise service delivery has never been greater – yet often digital and data skills are missing at the top table.
In recent years, some housing providers have taken to recruiting for digital and data skills alongside the more traditional board composition – and given that you can’t effectively govern what you don’t understand, it’s more critical than ever that Boards develop their understanding of digital and data to meet the challenge of the evolving risk landscape head on.
At Socitm Advisory, we work across local public services to deliver Digital, Data and Technology services, helping organisations to optimise delivery, mitigate risk, deliver benefit – and ultimately make a difference to people’s lives.
Our Data and Digital Risk Management for Boards training provides a short, focused, interactive and affordable overview into the key areas of strategic digital and data risk, as well as supporting Boards to understand the opportunities that can be brought about by improved use of Digital, Data and Technology.
For an informal chat or to find out more about how we might be able to help you, contact us Kate.Lindley@socitm.net