Wakefield and District Housing’s (WDH) innovative approach to risk management has seen the business shortlisted for a major international award.
WDH has been shortlisted for the Institute of Risk Management’s (IRM) Global Risk Awards 2015 for delivering value through risk management.
Nominations for the award were received from companies based 16 countries spanning five continents, with the winner to be announced in February.
WDH’s approach to risk management is already recognised as best practice in the housing sector and will feature in the National Housing Federation’s new guide Understanding assurance: a guide for housing association board members, which is being launched at the Federation’s Audit Committees Conference in Birmingham on 3 December 2014.
Jeff Colley, WDH’s Risk and Audit Manager, is speaking at the conference.
Jeff said: “We are extremely proud to be recognised as best practice, and we are honoured to be invited by the National Housing Federation to share our learning and experiences with our peers.
“Being shortlisted for the IRM’s Global Risk Awards demonstrates the value that our new approach can add to how businesses are run, both within our sector and beyond”
WDH’s innovative approach to risk management integrates assurance mapping and risk management into one system. This provides the Board and senior management with clearer, more objective reporting on how well risks to the businesses are being managed.
John Butler, Finance Policy Officer at the Federation said: “WDH’s fresh approach to a risk and assurance combined framework could be of real benefit to housing associations. The responsibility of housing association board members is to govern their organisations in a changing and increasingly risky operating environment. By incorporating WDH’s framework in our assurance guide housing association, board members will gain an understanding of this leading practice and be in a better position to obtain assurance that their organisation’s system of internal control is working effectively to reduce the risks to their organisations.”