Risk Assurance Framework
Approach to risk and assurance
We have a clear purpose at Settle, underpinned by values and behaviours, which shape us and guide us in achieving our priorities.
The external environment continues to present challenges for all businesses, including housing associations and it therefore crucial that we have an effective risk management framework in place that provides a structured and coherent approach to identifying, assessing and managing risk and ensures Settle remains a well governed and financially resilient organisation.
Our approach to risk management
Our approach to risk is governed by our risk appetite statement and risk assurance framework.
- Risk appetite sets the level of risk we are prepared to accept in pursuit of our strategic objectives and before action is deemed necessary to reduce the risk. The Board reviews the risk appetite statement at least annually.
- Risk Assurance Framework helps us manage both strategic, operational and emerging risks across the business. This ensures there are regular conversations about risk management throughout the business with quarterly reporting to the Executive Team, Committees and Board. The framework provides that operational, strategic, and emerging risk registers are in place and reviewed on a regular basis.
Risk Management
Each risk within the Strategic Risk Register is regularly analysed and prioritised. The register identifies the existing controls and mitigations as well as the actions required to bring the risk to target level. Our assurance is based on the three lines of defence model. All risk and risk movements are reported monthly to the Executive Team and quarterly to the Audit and Risk Committee and Board.
As at 31 March 2025, the Board was monitoring the following 13 strategic risks:
