Governance
This page highlights our governance performance, demonstrating how strong leadership, clear accountability and effective controls support sustainable growth, protect stakeholder interests and enable us to deliver on our social and environmental commitments.
Governance at a Glance
- G1 governance rating reaffirmed by the Regulator of Social Housing
- V2 financial viability rating maintained
- C1 consumer standards rating achieved
- No adverse regulatory findings during the reporting year
- Comprehensive ESG risk management framework embedded across the organisation
- 38,000+ homes governed under Aster's regulatory and assurance framework
Key governance priorities include regulatory compliance, risk management, board oversight, transparency, cyber security and ethical leadership.
T7 - Structure and Board
Legal structure of the organisation, its Board and Trustees, and its approach to Governance
C28 - What is the housing provider's most recent regulatory grading/status?
G1, V2, C1
In spring 2026, the Regulator of Social Housing (RSH) carried out a full assessment of Aster’s business arrangements, looking at how we are governed, our financial viability and how well we meet consumer standards. This resulted in July 2026 (outside the 2025/26 reporting period) in us having our G1 governance rating reaffirmed – the highest possible grade, and one we have held since the regulatory grading system came into force. Our financial viability rating was also reconfirmed at V2, having moved from V1 to V2 in December 2025. This was reflective of the increased investment in our services and portfolio of over 38,000 homes despite wider economic pressures, to maintain quality and safety for customers.
We are proud to have also received the highest possible grading of C1 for compliance with consumer standards, in our first assessment under the new standards. The C1 rating shows we’re delivering good outcomes for customers including the provision of good-quality homes, keeping customers safe and giving customers meaningful opportunities to have their say. As part of its inspection, the Regulator recognised our commitment to openness and customer involvement, acknowledging the ways we keep customers informed and engaged in decisions about our services, and treat them with fairness and respect. The RSH also noted our approach to ensuring the health and safety of tenants in their homes; our effective, efficient and timely repairs and maintenance service; and our efforts to tackle anti-social behaviour working with other organisations and members of our communities.
C29 - Explain how the housing provider’s board manages ESG risks.
Are ESG risks incorporated in the housing provider’s risk register?
Our Risk Framework takes an enterprise risk management approach. This is integrated into our strategic and service planning processes and performance management, with a Risk Register maintained and regularly discussed.
Our Operating Environment and Horizon Risk Map includes themed sections for Environmental and for Societal/Sector. Our Strategic Risk Themes (principal risks) include Investment in Homes and Sustainability, Regulatory Standing and Customer Satisfaction and wider perception, among others. Specific strategic and operational risks are identified under these themes, including risks relating to the environment and to continued good governance. Each risk is fully assessed and appropriate responses and management plans are put in place and monitored.
Our Compliance Register contains all laws, regulations, sector standards and codes of practice applicable to us across environmental, governance and social responsibility and our plans for meeting these.
The Aster Group Ltd Board ensure ESG risks are managed appropriately, and are supported by our Committees and wider governing bodies including the Group Risk and Assurance Committee.
C30 - Has the housing provider been subject to any adverse regulatory findings in the last 12 months (data protection breaches, bribery, money laundering, HSE breaches, etc.) that resulted in enforcement or other equivalent action?
Aster has not been subject to any adverse regulatory findings in the last 12 months. We have robust policies, procedures and performance oversight in place to keep colleagues and customers safe. We have mandatory training for all colleagues and secure IT systems to prevent data protection breaches, and a speak up policy and culture that encourages colleagues to report all instances of misconduct.
C31 - How does the housing provider ensure it gets input from a diverse range of people into the governance processes?
Our Diversity and Inclusion policy, Inclusive Recruitment training and strong Customer Voice feedback routes ensure that a range of perspectives feed into our governance processes. Our governance reporting template for all Board and Panel reports prompts authors to consider and include feedback from customers and colleagues - this information forms part of the decision-making process.
We are committed to acting on what customers tell us, and gather feedback in a range of ways, including surveys, customer groups and day-to-day conversations. This helps us understand what works well and where we need to improve. This year, we engaged with customers, receiving more than 17,000 responses through our varied surveys. As previously mentioned in C23, this year we introduced a new Customer Engagement Framework and added a customer Chair and customer Member to the Customer Voice Committee (CVC). The CVC forms part of our governance structure, and is made up of our customers, senior executives and non-executive directors. It reviews performance, challenges our approach, and ensures customer views are reflected in decisions about homes, neighbourhoods and communities. We also have a Customer Scrutiny Panel (CSP) and Designated Complaints Panel (DCP) which ensures the customer voice plays a key part in how we improve our services.
Our new Colleague Voice Forum, due to be launched in the 26/27 financial year, will have a diverse range of colleagues representing each business area and a direct line into our new Change Oversight Panel. Our CEO will also strategically sit on the Forum so that ideas, concerns and perspectives will be heard right at the heart of the business, and turned into action.
C32 - Does the housing provider have policies that incorporate Equality, Diversity and Inclusion (EDI) into the recruitment and selection of board members and senior management?
How do they do this?
Our Diversity and Inclusion Policy and Principles, available on our website, outline our approach to making sure we work with our customers and colleagues in a fair and inclusive way.
We have mandatory training modules for all colleagues and colleague networks for support and awareness raising (including Enable (our disability confident network), LGBTQ+, race and heritage, carers and gender).
Previous rounds of board recruitment have included the selection panel receiving unconscious bias training from the Head of Inclusion.
An Inclusive Recruitment e-learning course was developed in 2025 and forms part of our Leader Playbook. An Inclusive Board Recruitment guide has also been shared with our Governance team.
C33 - What % of the housing provider's Board have turned over in the last two years?
What % of the housing provider's Senior Management Team have turned over in the last two years?
Board: 30%
Senior Management Team: 0%
The Overlap Boards have ten members; in the last two years, three members have stepped down, having reached the end of their maximum term. In line with the UK Corporate Governance Code, the maximum tenure for Board members is nine years. There has been no turnover of Executive Board members in the last two years.
The Group’s governance framework and rules of the association have been structured based on the principles of the UK Corporate Governance Code. This sets out the standards of good practice and the principles that the Board of Directors should apply in order to promote the purpose, values, and future success of the Group. In December 2025, the Board resolved for Aster to adopt the 2024 UK Code of Governance from 1 April 2026. During 25/26, we progressed our transition to the updated 2024 Code, with reporting commencing from April 2026. This work reinforces our commitment to transparency, accountability and long-term sustainability.
C34 - Number of board members on the housing provider's Audit Committee with recent and relevant financial experience.
2
One of our Non-Executive Directors, Mat Cooling, is an experienced NED with extensive audit experience and is the Chair of the Group’s Risk and Assurance Committee. He has over 15 years of experience in audit, risk, governance and strategic oversight across public, private and international sectors, and considerable experience chairing and advising on audit, finance and risk committees. He is currently the Director of Risk and Assurance for a leading university in the south east. In his spare time he is a trainer for Chartered Institute of Public Finance and Accountancy (CIPFA) and the Institute of Internal Auditors (IIA).
Chris Tyson, an Independent Committee Member, also has extensive audit and NED experience, as well as experience as a Pension Trustee and Senior Finance professional. He has previously been a committee member on Finance and Treasury; and Audit and Risk Committees with another housing association.
C35 - What % of the housing provider's board are non-executive directors?
70%
The majority of our Board are non-executive directors (NEDs), in line with the UK Corporate Governance Code’s recommendation that at least half are NEDs, to ensure objective, independent oversight from individuals with a range of skills, knowledge and experience. This is essential for the long-term success of the Group and for ensuring the Group is appropriately managed and operates responsibly as it pursues its objectives.
As part of our Board and Committee Membership, Recruitment and Succession Policy, we have a Board Skills Vision, aligned to the Corporate Strategy and future ambitions of the organisation. This helps to ensure diverse pipeline for succession of Members, with an appropriate range of skills and experience to further the objectives of the business and be resilient to changes in our operating environment.
C36 - For how many years has the housing provider’s current external audit firm partner been responsible for auditing the accounts?
Our current audit firm partner has been with Aster for less than a year, having started in September 2025. We are committed to upholding the highest standards of independence and objectivity in the auditing of our accounts. For this reason our previous partner stepped down, having reached the end of their tenure to be considered independent.
C37 - When was the last independently-run, board-effectiveness review?
The last board-effectiveness review was carried out on 01/03/2025.
The review identified a number of opportunities to further enhance existing arrangements and provided overall assurance that the governance framework was effective and compliant with the UK Corporate Governance Code 2018. It also confirmed that the recommendations arising from the Deloitte Governance Review had either been implemented or were progressing as planned, particularly in relation to the Corporate Structure Review and Customer Voice approach.
C38 - How does the housing provider handle conflicts of interest at the board?
We have a policy that sets out how we handle conflicts of interest at the Board, based on the Board Code of Conduct.
Our Board and Committee Code of Conduct sets out how we handle conflict of interests, recognising the duties that members owe, and how they must conduct themselves. Our agendas and recommendations always make it clear which entity Board is considering the items, to ensure transparency and ensure that any conflicts can be noted.
Recognising that we have charitable entities in our Group structure, the Code of Conduct also references the additional responsibilities for members of charitable entities.
The Code of Conduct also refers to what should happen if a conflict does arise, ultimately ensuring that members should act in the best interests of the Group as a whole.
T8 – Employees
Supports employees
C39 - Does the housing provider pay the Real Living Wage?
We strive to pay our people fairly and provide both them and our customers with tools and resources to help manage their finances. While we don’t currently pay the Real Living Wage for all our colleagues, it is something that we are very aware of for the small number of colleagues who this relates to and are working towards realising this in the future.
C40 - What is the housing provider's median gender pay gap?
11.6%
C41 - What is the housing provider's CEO:median-worker pay ratio?
9.34:1
C42 - How is the housing provider ensuring equality, diversity and inclusion (EDI) is promoted across its staff?
In order to demonstrate to colleagues the importance of Diversity and Inclusion (D&I) and our expectations, we have Diversity and Inclusion Principles which support our D&I Policy. We also have a three-year D&I strategic plan available to colleagues and customers detailing our ambitious objectives, with accountability achieved through quarterly progress reports. Our values and behaviours framework, The Aster Way, also has D&I at its core in terms of setting inclusive behaviour expectations for colleagues, and this year has been further professionalised, with our Handbook now aligning to the Chartered Institute of Housing (CIH) Code of Conduct and Code of Ethics helping us be the best possible place to work.
Our progress in D&I was recognised in 2025 when we achieved a silver Talent Inclusion and Diversity Evaluation (TIDE) benchmark award, awarded by Onvero (formerly the Employers’ Network for Equality and Inclusion). We have continued to work with Onvero to measure our D&I approach and outcomes, and we were also delighted to maintain our Disability Confident Leader status in 2025, as well as receiving Pledge Pioneer accreditation status from the House-Proud pledge, demonstrating our commitment to supporting LGBTQ+ colleagues and customers.
Our D&I learning and awareness offer has continued to develop. This includes our popular 'Active Inclusion' session which covers unconscious bias, micro-behaviours, and inclusive language; sessions on Allyship, Inclusive Leadership, Race Fluency, LGBTQ+ Awareness, as well as a Disability Awareness session and e-learning, some of which is mandatory such as the D&I and Disability Awareness e-learning.
Our five colleague networks (Disability ‘EnAble’, LGBTQ+, Race and Heritage, Gender, and Carers) provide safe spaces for colleagues to come together to share experiences, celebrate key events and help shape key guidance for colleagues and leaders. Our Disability Confident (‘EnAble’) Network have now produced three quarterly editions of the colleague-led EnAble magazine, dedicated to celebrating the diverse experiences, and talents of disabled and/or colleagues with health conditions, shining a light on the challenges they face while emphasising their invaluable contributions. Enham Trust’s Employment Plus programme, which supports disabled individuals and those with long-term health conditions to move closer to, or into, mainstream employment, plays a key role in promoting diversity and inclusion across organisations. Disability awareness training with Aster and Enham colleagues was facilitated by Enham Trust during the year. They also provided ongoing advice and guidance to internal managers supporting disabled and neurodivergent colleagues.
Our ‘Language Matters’ guide to inclusive language was reviewed and updated in 2025, with contributions and suggestions from our colleague networks to aid inclusive and accessible communications. Beyond this, our colleague networks and D&I team also regularly communicate and celebrate key notable dates throughout the year with articles, resources, and podcasts, such as a colleague describing ‘A Day in the Life’ during Ramadan, Deaf Awareness
Week resources, and Pride events.
We continue to promote the importance of inclusivity by this year participating in our seventh annual National Inclusion Week, which focuses on a week-long programme of sessions and content focused on the theme of ‘Build Trust. Navigate Change’. Our D&I team are also part of the National Housing Federation (NHF)’s EDI network, and our CEO, Bjorn Howard, is part of the NHF’s CEO EDI network where best practice is shared amongst sector peers.
Our Reverse Mentoring programme where Exec Board members and senior leaders become the ‘mentees’ and more junior staff the mentors, has been a huge success and helped heighten senior leaders’ understanding of lived experience as well as improving top-down connections.
Another initiative which demonstrated the strategic importance of inclusivity was a series of International Women’s Day podcasts featuring conversations between our female Executive Board members a combination of their female Reverse Mentors or some of our female Aspiring Leaders. These honest and insightful chats discussed everything from first jobs, role models, and inspiring leaders, to some of the challenges they’ve faced in their careers.
C43 - What activity has the housing provider undertaken over the last 12 months to support the physical and mental health of its staff?
What impact has this had on staff and the wider organisation?
Mental health
We’ve continued to partner with Plumm Health to provide colleagues with Mental Health support when they need it. It includes access to 1:1 video counselling/therapy sessions with accredited therapists, with appointments in as little as 24 hours; chat therapy via the platform; an AI wellbeing assistant to offer real-time mental health and personal growth support; unlimited access to a growing library of therapist-led psycho-educative digital courses; guided meditations; and live monthly workshops with access for family members. Plumm is both GDPR and HIPAA compliant, so all conversations are totally confidential and encrypted.
We have trained Mental Health First Aiders - colleagues that can spot the signs and symptoms of poor mental health and are armed with signposting information to help colleagues get the support they might need. We have a 24/7 employee assistance programme (EAP) in place which is a freephone telephone number to a counsellor available to all colleagues and a dedicated website full of tools and resources.
We run a number of live sessions on mental health including Increasing Emotional Resilience and Mental Health Champion training to arm colleagues with the tools to spot the signs and symptoms of poor mental health.
As part of our commitment to supporting mental health and wellbeing, we have also implemented Trauma Incident Management (TrIM) — a peer-delivered support system designed to assist colleagues who may be affected by potentially traumatic incidents in the workplace. Developed originally within the UK Armed Forces, TrIM is a structured yet flexible process that enables trained peer practitioners to identify colleagues who may benefit from early psychological support, fostering resilience and encouraging timely access to professional care when needed. By embedding TrIM into our wellbeing offer, we promote a proactive, stigma-free approach to mental health, particularly in high-pressure or critical roles. Over the last 12 months we have continued to
embed TrIM by training a Trauma Incident Management Practitioner to manage the response to TrIM requests and designing a new Trauma course which has been added to our wellbeing programme.
Physical wellbeing
Over winter, we rolled out free flu jabs to all colleagues, to help protect them, their families and our customers. We have plans to run the campaign again next winter.
Colleagues have BUPA Cashplans, covering physiotherapy, chiropractic and osteopathy appointments up to £150, consultants appointments, routine tests/health checks and prescription charges. They also have access to BUPA physio, a nurse telephone helpline and a health hub of information and advice.
As an accredited Menopause Friendly Employer we offer colleagues support, training and information to support them in this space. We have continued to provide a menopause friendly environment and support programme and are now offering access to the Bupa Menopause Plan for colleagues who are struggling to access good GP support.
During the year we developed and delivered a range of wellbeing sessions including bite sized lunch and learns to increase attendance. Our EAP gives access to a digital gym with bookable live workouts and recorded training plans for Pilates, yoga, injury prevention and menopause. We also have recorded yoga, Pilates and HIIT workouts via the Perkbox wellness hub, as well as recorded webinars on nutrition.
C44 - What activity has the housing provider undertaken over the last 12 months to support the professional development of its staff?
What impact has this had on staff and the wider organisation?
Ensuring that our colleagues have opportunities to learn and access to the right professional development is important to us, and helps to ensure that we continue to deliver quality customer services.
We launched a refreshed People and Culture Plan with the aim to create an environment where colleagues feel supported to do their best work. This has been informed by colleague feedback to ensure we respond to the needs of different roles and career stages.
Alongside this, we supported our ongoing leadership development programmes by introducing a Leader Playbook and a Leadership Community, to help set clear expectations and provide practical tools for leaders. This initiative also included:
- Introduction of reverse mentoring for the Executive Board, pairing them with colleagues from diverse backgrounds to broaden perspective and insight
- Introduction of the New World Leadership programme, delivered with Change Innovators, designed to develop modern, conscious leaders with the self-awareness, mindset shift, and human skills needed to navigate complexity and inspire trust in a rapidly changing world of work. This has been rolled out to our Executive Board, Senior Leadership Team and Assistant Directors so far.
We continued to support colleagues in their professional development, including:
- 96 colleagues actively completing apprenticeships through the apprentice levy
- 16 colleagues undertaking the Women in Leadership apprenticeship
- 30 colleagues studying for Chartered Institute of Housing (CIH) qualifications
- Introducing a CIH club for colleagues.
