Published 23rd March 2022
A message from Jonathan Huish, Chair of the Trivallis Board.
As part of my role as Chair of the Trivallis Board, I am proud to see the positive impact Trivallis continues to have in our communities.
Another part of my role as Chair is to support Trivallis with Welsh Housing Regulation. The purpose of regulation of housing associations is to protect tenants and investment in housing associations. It is undertaken by the Welsh Government, and largely takes the form of oversight and monitoring with intervention only where necessary.
You can find out more about the regulatory framework for housing associations registered in Wales, here:
Housing associations registered in Wales: regulatory framework | GOV.WALES
The Welsh Government Regulator has informed the Trivallis Board that our regulatory judgement is under review because they have concerns about the governance and management arrangements for the Association.
Judgement Under Review Notice
The Regulator is looking into matters in relation to the association’s governance and management which are potentially material and may impact on its regulatory judgement.
We expect to issue a new regulatory judgement on conclusion of our work.
While this is not an intervention by the Regulator, they are concerned that the Association has not provided the necessary assurance to support our current regulatory status. They are also concerned that the absence of senior executives means we do not have the necessary management capacity.
The Regulator does not have any concerns about tenant safety or the services we provide to them. Tenants, their leases and services are not affected by this announcement. They will continue to receive all services and maintenance as normal while the Board and staff work with the Regulator.
The Regulator will work closely with the Board while we address their concerns and provide the necessary assurances to enable them to reach a decision about our regulatory judgement status.
The Board is taking 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 we will take and within what timeframe, so that we can to provide full assurance to the Regulator.
We have been asked to undertake several in-depth reviews of structures; governance and management arrangements; and financial assumptions. Voluntary undertakings, and the resulting independent reviews, are a common method for Boards and the Regulator to agree necessary actions and improvements.
To help us with this work, the Board has appointed senior independent advisers to provide and additional capacity. Jill Jones, John Comber and Cliff Parker have been engaged as advisors to the Board and to provide senior support within the business. All three bring a wealth social housing and private sector C-suite, leadership, and finance expertise to the association.
Staff can rest assured that Trivallis will be stronger and better after this process with the Regulator, and that they are very much part of that. The Board appreciates that this announcement may cause some concerns about what this means for the future, but please be assured that we need you to be part of this process and the future of Trivallis.
We ask all our staff to work with the Board and leadership team to ensure Trivallis continues to provide high quality housing, support and services to our tenants and customers. Staff and the trade unions will be fully involved and kept informed.
Notwithstanding the work the Board must now do to provide all necessary assurances to the Regulator, the focus must always be on tenants, 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.