Risk and Audit Committee Agenda - February 17, 2026

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 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 Government Code section 11123.2 (amended by Stats. 2025, ch. 222, § 1), Board members may participate remotely via teleconference.

Meeting Agenda for February 17, 2026

Open Session

9:15 a.m.
Or upon adjournment of the Board Closed Session - Whichever is later.

1. Item

   1. Call to Order and Roll Call
   2. Election of the Risk and Audit Committee Chair and Vice Chair
   3. Executive Report — Kevin L.Fein
   4. Action Consent Items — Kevin L. Fein
      1. Approval of the February 17, 2026, Risk & Audit Committee Timed Agenda
      2. Approval of the November 18, 2025, Risk & Audit Committee Meeting Minutes
      3. Review of the Risk & Audit Committee Delegation
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
      4. Office of Audit Services, Quality Assessment Review Vendor Selection
   5. Information Consent Items — Kevin L. Fein
      1. Annual Calendar Review
      2. Draft Agenda for June 2026, Risk & Audit Committee Meeting
      3. Quarterly Status Report - Office of Audit Services
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
      4. Status Report – Enterprise Compliance Activity
         1. Attachment 1 (PDF)
         2. Attachment 2 (PDF)
         3. Attachment 3 (PDF)
   6. Information Agenda Items
      1. FY 2025-26 Enterprise Compliance, Risk & Governance Annual Plan – Mid-Year Update – Kevin L. Fein
         1. Attachment 1 (PDF)
         2. Attachment 2 (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. Call to Order and Roll Call
   2. Action Consent Items — Kevin L. Fein
      1. Approval of the November 18, 2025, Risk & 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 Auditor — Beliz Chapuie

    

   Open Session

   Upon adjournment of the Closed Session

   7. Adjournment of Meeting