The RSH is the regulator for social housing providers in England. It assesses landlords on areas including governance and financial viability to make sure they are well-managed and able to provide homes and services for customers now and in the future.
The Regulator has awarded us a Governance grading of G3 and a Financial Viability grading of V3. The judgement identifies areas where we need to make further improvements, including governance, risk management, internal controls and financial oversight.
We accept the Regulator's findings and are committed to addressing them. While we are disappointed with this outcome, we recognise that we must do more to demonstrate that the improvements we are making are delivering lasting results.
Ruth Cooke, our Chief Executive, said: "While we are disappointed with this outcome, we fully accept the Regulator's findings and recognise we still have work to do to deliver the ambitions set out in our Simpler, Stronger, Better strategy and, most importantly, to continue improving outcomes for our customers."
"We have already made progress in strengthening governance, financial oversight and decision-making across the organisation, and we have a clear plan in place to deliver further improvements. We remain committed to working closely with the Regulator and demonstrating sustained progress over time.
"I want to reassure our customers that this judgement is not about the safety of their homes and does not change our commitment to providing safe, quality homes and services. We will continue to invest in our homes, meet our safety responsibilities and support our customers and communities."
GSA remains a stable organisation and our services will continue as normal. We will continue to work closely with the Regulator and be open about the progress we are making.
We've already started making improvements, including:
- Making sure decisions are made clearly and effectively across the organisation
- Improving how we identify and manage risks
- Strengthening our financial planning and oversight
- Carrying out independent reviews to make sure improvements are working
- Increasing oversight from our Board and senior leaders
- Monitoring our performance closely and taking action where improvements are needed
- Delivering a clear improvement plan and regularly reviewing our progress.
You can read the full regulatory judgement here.