How L&Q manages risk

Find out how we identify, assess and manage risks that could affect residents, homes, services or our ability to run our business. 

Our approach to managing risk 

Managing risk helps us keep residents safe, protect their homes and services and make sure we can continue to run our business in the future.

When planning and making decisions, we identify risks, assess how serious they could be and put measures in place to manage them. We regularly check whether these measures are working and take further action where needed.

Different people and groups are responsible for managing and overseeing risks across L&Q.

Jump to

• What we mean by risk
• How we manage risk
• Who is responsible for managing and overseeing risk
• Risks that matter most to residents
• What happens when new risks emerge
• Our annual Risk Statement

What we mean by risk

A risk is something that could affect our ability to maintain safe homes, provide good services or deliver our long-term plans.

Examples include:

• building safety issues
• cyber security incidents
• financial and economic pressures
• service and utility disruptions
• contractor performance issues
• changes in laws or regulations
• environmental changes, like extreme weather

Understanding risks helps us make informed decisions, plan ahead and respond when circumstances change. 

How we manage risk

We identify the main areas of risk across L&Q and make sure a director is responsible for overseeing each one. 

For each area, we:

1. Identify risks – we look at what could affect residents, homes, services or L&Q.

2. Assess risks – we consider how likely each risk is and what impact it could have.

3. Manage risks – we put measures and actions in place to reduce or manage the risk.

4. Monitor and review risks – we regularly check whether these measures are working and make improvements where needed.

This process helps us manage existing risks and respond when risks change or new ones emerge.

Who is responsible for managing and overseeing risk

Everyone at L&Q has a role in managing day-to-day risks. Different people and groups have specific responsibilities for overseeing our most significant risks:

• directors oversee risks within their areas and the actions being taken to manage them
• the Executive Group regularly reviews the most significant risks facing L&Q
• the Audit and Risk Committee provides oversight and challenge
• the Group Board oversees our overall approach to managing risk

We also provide risk reports to the Audit and Risk Committee every quarter, giving the committee oversight of our main risks and the actions being taken to manage them.

Together, these checks help make sure our risks are identified, managed and regularly reviewed, and that further action is taken where needed.

Risks that matter most to residents

We manage risks across all areas of L&Q. Some can have a particularly direct impact on residents.