Oaklee Group Board:

This is the principal body responsible for overarching policy decisions and the strategic direction of the organisation. At meetings, the Board receives update reports, recommendations and assurances from the committees and subsidiary board. The Board has 10 members whose work is entirely voluntary and who bring a wide range of skills, experience, expertise and perspectives. A term of office for a Board member is five years which can be extended to a maximum of two terms or ten years.

Committees Supporting the Board: 

Audit & Risk Committee: This Committee's remit is to provide oversight and assurance for the work of Oaklee and advise the Board on risk management. They also recommend actions to strengthen governance, financial management, or risk mitigation.

Housing Delivery Committee (HDC): The Committee’s remit is approving housing development pipeline and projects; considering the feasibility of new business; and making recommendations to the Board for projects with large capital budget and borrowing implications.

Housing Services Committee (HSC): This Committe provides oversight to the Board on tenant, property and assets services. The HSC encourages resident engagement and customer feedback, as well as providing a focus on qualitative outcomes and quantitative performance. Two resident representatives are members of the Committee.

Nominations, Governance & Remuneration Committee: The remit of the Nominations, Governance and Remuneration Committee is to deal with Board succession and Board and Committee recruitment, the remuneration of the senior management team; approval of HR policies and pay grade/reward frameworks.

Finance Committee: The Committee assists the Board in fulfilling oversight responsibilities relating to all areas of prudent financial management including budgeting, treasury and financial risk management. It also supports and advises the Board in relation to strategic financial planning to support the delivery of the strategic plan.

Acorn Housing:

A Designated Activity Company (DAC) and wholly-owned subsidiary of Oaklee. Its Board consists of four members appointed by Oaklee's Board, including two Oaklee Board members and two independents. 

Compliance with the Approved Housing Body Regulatory Authority

The Housing (Regulation of Approved Housing Bodies) Act 2019 provides for the regulation of approved housing bodies, for the purpose of, among others, supporting stronger governance. Oaklee adheres to the Governance Standard as set out by AHBRA, which prescribes key outcomes to be achieved in relation to responsibility and accountability of the Board. In November 2024, Oaklee submitted its Annual Monitoring form to AHBRA, and participated in the Regulator’s pilot programme for annual assessment.

​Oaklee maintains a robust financial governance framework to ensure transparency, accountability, and effective management of its financial resources. Our strategic growth agenda requires a stable financial base and prudent risk management in order to safely navigate, whilst ensuring the interests of our existing stakeholders are protected. Oaklee has established comprehensive financial control and risk management policies aligned with best practices in financial management.

As a result, Oaklee has a suite of key financial control and risk management policies in place in line with best practice in financial management and in compliance with the regulatory standards prescribed by our principal regulators (Approved Housing Body Regulatory Authority and the Charities Regulator). Ongoing financial performance is closely monitored against target expectations and a suite of key performance indicators and is overseen by the Board of Management and the Audit and Risk Committee.

Establishing Financial Partnerships: 

Public Private Partnerships: Oaklee collaborated with Choice Housing Ireland, Macquarie Capital, and John Sisk & Sons to form this consortium. They secured a €120 million project to finance, design, construct, and maintain 543 social housing units across six sites in Dublin and surrounding counties. Oaklee provides tenancy management and community development services for these communities

SPV: Oaklee established the first private finance SPV created by an AHB in Ireland. Through this structure, they secured a €50 million bank facility to finance property acquisitions for social housing. This innovative approach enabled the acquisition of 217 homes between December 2017 and June 2020.

Cost Rental Initiatives In partnership with Evara Ireland and South Dublin County Council, Oaklee launched one of Ireland's largest cost rental projects, delivering 154 apartments with rents at least 25% below market rates. Funding was secured through the Department of Housing's Cost Rental Equity Loan (CREL) scheme and private financing from the Housing Finance Agency (HFA).

Financial Governance Practices: 

To enhance its financial governance, Oaklee has implemented several key practices:​ 

Integrated GRC System: The organisation partnered with CalQRisk to streamline governance, risk management, and compliance processes. This integrated system provides a centralised platform for managing these functions, enhancing efficiency and effectiveness.   

Refinancing Initiatives: Oaklee secured a €50 million debt financing deal with Norddeutsche Landesbank (NORD/LB), utilising an SPV structure in a social housing property portfolio acquisition project. This initiative demonstrates the organisation's strategic approach to financing and investment. ​  

These measures collectively ensure that Oaklee maintains a strong financial foundation, enabling it to continue delivering quality social and affordable housing while adhering to the highest standards of financial governance. 

The 2023/24 annual report highlights a 10% growth in group revenue, reflecting Oaklee's robust financial health. This financial stability supports the organisation's capacity to invest in new developments and maintain existing properties, ensuring the provision of high-quality housing solutions.

Looking ahead, Oaklee is focusing on mixed-tenure developments, including both social and cost rental housing. This approach aligns with evolving local authority requirements and aims to create diverse, sustainable communities.

The vision for the Group is to significantly grow the number of units it has under ownership and management in a sustainable manner into the future. The Group is now better positioned operationally to deliver on its ambitious objectives and has a very strong pipeline of over 1,000 new homes expected to complete over the next three-year period.