Risk and Audit Committee - September 17, 2025

Oversees system soundness, enterprise risk management, internal and external audits, privacy and information security, ethics, compliance and other independent reassurance activities.

(Agenda items are provided in a PDF format, which require Adobe Reader 8 or higher to view.)

Items designated for Information are appropriate for Committee Action if the Committee wishes to take action. Any Agenda Item from a properly noticed Committee meeting may be considered by the Board or Committee at a subsequent Board meeting. The hour designated as the earliest starting time for this meeting is not intended to communicate the expected duration (or ending time) of the preceding meeting. Public comment may be taken on agenda items in accordance with applicable law. There is a three-minute limitation on each public comment, unless otherwise directed by the Presiding Officer. (Cal. Code Regs. tit 2, § 552.1.) Members of the public may provide public comment via telephone by calling (800) 259-4105. Board members may attend meetings of committees of which they are not members and participate in the discussions during those meetings. In accordance with California Government Code section 11123.2 (added by Stats. 2023, ch. 216, § 1), Board members may participate remotely via teleconference.

Meeting Agenda for September 17, 2025

View September 17, 2025 Risk & Audit Committee Open Session Meeting Transcript (PDF)

Open Session

8:30 a.m.

1. Item
   1. Call to Order and Roll Call (PDF)
   2. Executive Report (PDF)Kevin L. Fein
   3. Action Consent ItemsKevin L. Fein
      1. Approval of the June 17, 2025, Risk and Audit Committee Meeting Minutes (PDF)
      2. Approval of the September 17, 2025, Risk and Audit Committee Timed Agenda (PDF)
      3. Office of Audit Services Quality Assessment Review Contract Qualification Criteria (PDF)
   4. Information Consent Items
      1. Annual Calendar Review (PDF)
      2. Draft Agenda for the November 19, 2025 Risk and Audit Committee Meeting (PDF)
      3. Quarterly Status Report - Office of Audit Services (PDF)
         1. Attachment 1 (PDF)
      4. Status Report – Enterprise Compliance Activity (PDF)
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
   5. Information Agenda Items
      1. Compliance Advisory Services Update (PDF)Kevin L. Fein
         1. Attachment 1 (PDF)
      2. Summary of Committee Direction Kevin L. Fein
      3. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session (Government Code sections 11126(a)(1) and (g)(1))

1. Item
   1. Call to Order and Roll Call
   2. Action Consent Items Kevin L. Fein
      1. Approval of the June 17, 2025, Risk and Audit Committee Closed Session Meeting Minutes
   3. Information Agenda Items
      1. Personnel, Employment and Performance, Chief Compliance Officer Kevin L. Fein
      2. Personnel, Employment and Performance, Chief AuditorBeliz Chappuie

Open Session

Upon adjournment of the Closed Session

1. Item
   6. Adjournment of Meeting