A Chair’s perspective
A seasoned Chair gives his view on what makes an effective board
GOVERNANCE & STRATEGY
Image: Istock
Professor Paddy Gray
Chair, Túath Housing
Issue 68 | October 2023
This is not the first time I have chaired a board and I hope it is not the last. Indeed, the first board I chaired was when I was 22 in Belfast. The troubles were still at their height, the Northern Ireland Housing Executive had embarked on a major programme of redevelopment, demolishing unfit housing, dispersing communities to new housing on the outer edges of cities and towns, and the infamous Right to Buy legislation had not been introduced.
Since then, I have chaired and been a member of several boards across the UK and Ireland, witnessing many changes in policy and practice along the way. The common denominator for me, however, has been meeting so many people working to improve lives by providing decent affordable housing and at the same time not forgetting the people who live in them.
Túath to power
I became Chair of Túath Housing Association on 26 June 2022, and my role is to ensure we adhere to the principles of good corporate governance in all activities. This, to me, is crucial for maintaining the trust and confidence of tenants, staff, regulators and all our stakeholders. It is vitally important to create a culture within the organisation of transparency, accountability and effective decision making, to continue delivering the best possible services to tenants and to the wider community.
My perspective is that excellent corporate governance starts with an effective board – this is critical for success and for continued growth and stability. The board is responsible for setting strategic direction, reviewing progress, risk management and for ensuring financial stability.
Túath Board 2022
12
Board meetings
19
Sub-committee meetings
55%
of board members are male
45%
of board members are female
Diverse skills
Túath’s board is made up of individuals who have a variety of diverse skills and experiences and who are committed to the highest standards of corporate governance, consistent with the complexities of the housing sector.
This reflects the people, places and communities that we are investing in and committing to, demonstrating that these responsibilities are met.
It is important that clear roles and responsibilities are established, that the board meets regularly and has access to the necessary information to make informed and timely decisions, and to guarantee that these decisions are implemented effectively.
Policy principles
Integrity is at the core of everything that we do, and a key document which reflects this is the board’s Code of Conduct. This sets out the standards of behaviour expected from all board members and Co-Optees to the board. It encapsulates adhering to ethical standards and ensuring that Túath’s vision, values and objectives are to the fore.
It is also essential that a conflict of interest policy is in place to identify potential conflicts and to ensure they are managed appropriately; all board members have an overriding duty to act in the interests of the organisation.
Risk management is another crucial element of good governance. Túath has a robust risk management framework in place, which helps identify, assess and manage risks that could affect the association’s ability to deliver services and achieve our objectives. The risk strategy is regularly reviewed and updated to provide for continuous improvement and enhance our capabilities.
Prepared for partnership
Having these principles in place ensures Túath is well positioned to undertake mergers and acquisition (M&A) activity within the Approved Housing Body (AHB) sector. Following the transition in Ireland from voluntary to statutory regulation, we understand that some AHBs may be considering their future in the context of the increased regulatory environment.
From our board’s perspective, this is an area of significant interest, with our primary focus on ensuring that any activity in this space closely aligns with our mission, vision, and values. M&A activity can offer significant opportunities, however, it also presents some risks. My role as Chair is to guarantee that any activity is carefully assessed and managed in line with our core principles.
Effective governance requires a multifaceted approach, combining strategic planning, transparency, accountability, risk management and continuous improvement. One year on in my role as Chair I am confident that the governance of the organisation is as robust as it can be, thanks to dedicated and skilled colleagues across the board, subcommittees members and the excellent staff who work together under a great leadership team. Last year Túath added nearly 2,000 high-quality, energy-efficient dwellings to our ever-growing stock.
Building strong relationships and managing challenges with resilience has been something that has remained with me throughout my career. It allows us to create positive change for tenants and this philosophy is embedded across our organisation both at executive and non-executive levels.
I am proud to say I am part of #OneTúath.
“Merger and acquisition activity can offer significant opportunities, however, it also presents some risks. My role as Chair is to guarantee that any activity is carefully assessed and managed in line with our core principles.”
