The Executive Vice President and Chief Financial Officer ("EVP" or "EVP/CFO"), reporting to the President, is the most senior non-academic officer for the university. endobj 4 0 obj If you have a disability and are having trouble accessing information on this website or need materials in an alternate format, contactweb-accessibility@cornell.edufor assistance. Policy Number: 4.11. Further, the university expects all members of the university community who are accountable for financial, Cornell University uses its property and facilities, primarily, to further its mission of learning, discovery, and engagement. The university permits the use of its property and facilities for collaboration with industry or community, where such use is consistent with the universitys mission, Cornell University prohibits any form of retaliation, intimidation, harassment, or adverse employment action against any trustee, officer, employee, former employee, independent contractor, agent, or volunteer of the university for disclosing or threatening to disclose any conduct that they have a, Cost sharing must be proposed, approved, administered, and accounted for in a consistent and prudent manner. CU Foundation Funds Kelly E. Cunningham Chief of Staff and Special Counsel to the President Joanne M. DeStefano Executive Vice President and Chief Financial Officer Ryan T. Lombardi Vice President for Student and Campus Life Christine D. Lovely Vice President and Chief Human Resources Officer Joel M. Malina Vice President for University Relations Kenneth M. Miranda September 2021 Quarterly Report. Cornell's investment - Giving to Cornell | Cornell University Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs About Us Business Tools Our Policies Contact forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. Here are the highlights: Endowment growth To accomplish his vision, he will work closely with colleagues in those offices, along with those from Human Resources; Information and Technology Services; and Capital Planning. Director of the IMFs investment office since 2000, Miranda also has been a member of the Cornell University Board of Trustees Investment Committee since February 2012. He will continue to grow Weill Cornell Medicines economic relationship with its clinical partner NewYork-Presbyterian, the bond between them immeasurably stronger amid the COVID-19 pandemic. Tel: 646-973-4400 1155 Avenue of the Americas Suite 1850 New York, NY 10036 investment@investment.cornell.edu corefixed@investment.cornell.edu 0 Efforts are underway to identify opportunities for future clinical growth, which will have important implications for the institution as a whole: Clinical revenue is the economic engine of Weill Cornell Medicine and provides the financial oxygen for its esteemed research and education programs, he said. Accordingly . The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. He has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. Cornell University Endowment Chief Was Paid $1.9 Million in 2018 Community Preservation Corporation . Locally, Ms. DeStefano serves as a member on the Cayuga Medical Center (CMC) board of directors and executive committees and previously served as the chair of CMCs patient and quality safety committee and as the chair for the Cornell 2008 United Way campaign. Current-Year Long-Term Investment Pool Rates; Prior-Year Long-Term Investment Pool Rates; Investing in the Long-Term Investment Pool; Investment Glossary; Year-End. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. Cornell University provides telephone service for individuals undertaking mission-related activities. He is the third CIO to resign in the last six years. (Acting) Chief Technology Officer (Apr 2022 - Jul 2022) Headed multiple departments of Corporate Strategy, Product Development, Process Improvement, Innovation and Sustainability, and Business Research + Reshaped EXIM's bank strategy towards Thailand Development Bank, focusing on investment to drive trade, competitiveness, and sustainability Cornell University recharge entities recover some or all of the cost of their products and services through user fees, subject to the requirements outlined in this document. He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. %PDF-1.6 % Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. Executive Vice President and Chief Financial Officer Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. This policy establishes these circumstances and the procedures for making such advances. The Executive Vice President and Chief Financial Officer ("EVP" or "EVP/CFO"), reporting to the President, is the most senior non-academic officer for the university. If you have a disability and are having trouble accessing information on this website or need materials in an alternate format, contactweb-accessibility@cornell.edufor assistance. A.J. Walsh reports jointly to President David Skorton and Board of Trustees Investment Committee Chair Paul Gould, who said, "James has managed our endowment office professionally during a very difficult economic period, and we have appreciated his leadership. East Hill Office Building Phone: (646) 962-9476, Pregnant Patients with Anxiety Have Altered Immune Systems, Differences in Animal Biology Can Affect Cancer Drug Development. Contacts . Aditya Misra. Investment Committee | Office of University Investments Cornell University 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. Woq\:mx$CWz wB(q30Sg`#_l Of%YeJ{ k `lX}VIIz/R{CmRtb9/|q{jK#^nbSK\eK)1Fzx$s}6#(p$ -Dwt"-c:\Z`$5WYwQp;2*i^,ZfblJw#C:I Investing in the Long-Term Investment Pool | Cornell University A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. CORNELL UNIVERSITY POLICY LIBRARY POLICY 4.6 Volume: 4, Governance/Legal Chapter: 6, Standards of Ethical Conduct Responsible Executive: President Responsible Offices: Provosts/Executive Vice President and Chief Financial Officer Originally Issued: October 1996 Last Updated: February 8, 2021 Standards of Ethical Conduct POLICY STATEMENT New York, NY 10065 We have a great team, he said. Vice . %PDF-1.7 Edwards has served as senior investment officer since March 2008. 1 0 obj Kenneth Miranda of the IMF named chief investment officer | Cornell endstream endobj 475 0 obj <>/Metadata 33 0 R/Outlines 54 0 R/PageLayout/OneColumn/Pages 472 0 R/StructTreeRoot 69 0 R/Type/Catalog>> endobj 476 0 obj <>/Font<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 477 0 obj <>stream 317 Day HallCornell UniversityIthaca, NY 14853. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. Senior Leadership | Leadership | Cornell University Executive Staff Assistant. As the most senior non-academic officer for the university, the EVP is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. March 18, 2011. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements. A key component to the institution's long-term growth centers on increasing its clinical footprint in New York. hb``` r@(JQ(*rwA Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. His prior roles include serving as president of the Bank-Fund Staff Federal Credit Union, one of the 50 largest credit unions in the country by assets, where he also had several other leadership positions. Prior to Cornell, Walsh spent 11 years at Hermes Investment Management in London, where he became head of strategy and alternatives, after being the firm's chief economist. Im familiar with the culture and have always envisioned myself working in higher education.. Contact | Office of University Investments Rafael Cestero, BS PAM '90 . 2iTm P8 Executive Vice President and Chief Financial Officer | Cornell Scott Puccino Appointed Chief Financial Officer of Weill Cornell endobj In addition, device holders are required to, Executive Vice President and Chief Financial Officer, Personal and Private Activity Using University Property and Facilities, Accepting Credit Cards to Conduct University Business, Charging Directly to Sponsored Projects Costs that are Normally Considered Indirect, Advances (Including Petty Cash and Accounts Receivable), Safekeeping of Financial Assets, Including Cash, Checks, and Securities, Establishing and Maintaining Accounts at Banks and Financial Institutions, Formulation and Issuance of University Policies, Responsible Use of Video Surveillance Systems, Management of Keys and Other Access Control Systems. Search for Executive Vice President and Chief Financial Officer, Chief of Staff and Special Counsel to the President; Chair, Search Advisory Committee, Charles Field Knight Dean of the Cornell SC Johnson College of Business, Vice President and Chief Human Resources Officer, Senior Associate Dean for Clinical Affairs, Weill Cornell Medicine, Chief Administrative Officer, Cornell Tech. favorite_border. As the most senior non-academic officer for the university, the EVP and CFO is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. Cornell University hiring Executive Vice President and Chief Financial Chief Investment Officer Michael Abbott steps down | University Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. Report this profile Report Report. Chief Investment Officer Abruptly Steps Down - The Cornell Daily Sun I wish him all the best in his future endeavors.". The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. Office of University Investments. She has over 20 years of administrative experience. <> AJ Edwards, Cornell University Cornell University's CIO AJ Edwards will be stepping down effective March 31, the Ivy League school announced. Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been selected as Cornell's chief investment officer, Provost and Acting President Michael Kotlikoff announced today. It is the responsibility of each operating unit to use, account for, and report such program income properly. A recent . Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. The Investment Office is responsible for implementing policies establishedby the University Board of Trustees and its Investment Committee. Cornell Universitys central administration establishes all university accounts with banks and other financial institutions using university funds. Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. Staff Directory Listing | Office of the Chief Risk Officer Cornell's colleges and schools encompass more than 100 fields of study, with locations in Ithaca, New York, New York City and Doha, Qatar. MPA Colloquium: Managing Mission and Growth for - events.cornell.edu A university device must be authorized by a dean or vice president, and must be purchased and serviced under the, Cornell Universitys Board of Trustees delegates significant procurement authority for the acquisition of goods and services from external sources on the universitys behalf. 2 0 obj Senior Investment Officer: Sean Graham Senior Investment Officer, Operations (Head of Operations) Mihir Meswani Senior Investment Officer: Anthony Thai, CFA Senior Investment Officer: Roger B. Vincent Jr. Senior Investment Officer: Sean Olesen, CFA, CAIA Investment Officer: Andrew Park, CFA, FRM Investment Officer Chief Information Officer - Weill | Cornell University Division of Puccino has served as assistant vice provost for financial planning and institutional reporting for the past decade, and has held numerous leadership positions in budget and finance over his 30-year career at Weill Cornell Medicine. For all units that accept credit cards as a method of payment for goods or services in relation to university business/operations, Cornell University requires compliance with Payment Card Industry Data Security Standards (PCI-DSS) protocols, and with the procedures outlined in this document, Cornell University expects its faculty, staff, and students, when dealing with federal and other sponsored funds, to follow Generally Accepted Accounting Principles (GAAP); comply with all government and sponsor rules and regulations; and follow established standards for determining when it is. Cornell University. The president is elected by the Board of Trustees and, once elected, sits as an ex officio member of the board and of all its standing committees except the Audit Committee. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> Cornell University Investment Office - LinkedIn The review process will begin immediately upon receipt of materials. In terms of approach, I tend to look at big changes, big themes, to identify market inefficiencies, growth bottlenecks and forced selling pressure that tend to generate the environment for outsized returns, he said. In this section: Search Committee ( see below) Edwards to step down. The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. Miranda succeeds A.J. "Cornell is a wonderful place. Chief investment officer announces he will leave Cornell Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. Cornell University allows the use of approved video surveillance systems through a transparent process, subject to rules governing equipment installation and employment, and use of the resulting recorded material. Jq3oPgK2Gs7(WUg\ Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. 1300 York AvenueBox 314 "I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next," he added. l[c.2HK@)'W@]!$xB8K@! Cornell Endowment CIO to Depart | Chief Investment Officer In his new role, Puccino will financially lead a global health care enterprise embarking on a strategic expansion that will advance the institutions tripartite mission to care, discover and teach. Kenneth Miranda of the IMF Named Cornell's Chief Investment Officer This includes possession, issuance of copies, and storage of keys and other access devices. Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. endstream endobj startxref Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs Home Business Tools forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. Young Cho, CFA - Chief Financial Officer - Swirlds Labs - LinkedIn The EVP is the chief . He is a results-driven professional with dynamic strategies that will ensure our endowment grows in depth and breadth as it maintains the stability required to support our educational and engagement mission, Kotlikoff said. The Investment Office's well-established senior leadership team will manage the office in the interim until a new chief investment officer is named. %%EOF In the unlikely event that a unit must ask the university to establish and maintain a separate account, the university requires the unit to institute, The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. He also lauded colleagues Assistant Vice Provost for Operations and Support Services Patrick Gallagher; Chief Information Officer Dr. Curtis Cole; Assistant Vice Provost for Capital Planning Dmitri Konon; and Managing Director of Business Systems and Operations Adam Garriga. 474 0 obj <> endobj Cornells endowment is in very good hands, DeStefano said. Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. This policy does not apply to any advance payment required by a vendor. The campaign, launched in June 2021, will enable Weill Cornell Medicine to invest in all three parts of its mission, which includes a precision health enterprise, updated biomedical research space and a new student residence. Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. . Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. Scott is an outstanding tactician whose deep reservoir of financial and institutional knowledge will be instrumental to preserving Weill Cornell Medicines fiscal integrity, stability and resilience, said Dr. Augustine M.K. So far in fiscal year 2010, Cornell's endowment performance is up 10 percent, after losing more than a quarter of its value in fiscal year 2009, as was the case with many of the university's peers in the wake of the 2008 financial crisis. 505 0 obj <>stream The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. This includes understanding workload and cost implications of the cost-sharing commitment; determining when cost sharing is necessary and appropriate; and accurately recording and reporting. The review process will begin immediately upon receipt of materials. KP}Gz%Xxk+0 #IR}67|JLA]zetUmJ3ZOHM' OZx /)B66J&_}M$c()1Qw[f4^+XBYm}*PIRD z.Ajx4.r7U'TJBUW|@,,8 ?IT$.d[eS5))b`AD`@[I$Lpk9h % There are circumstances in which it may be necessary to transfer expenditures to or from a sponsored account subsequent to the initial recording of the charge in the general ledger, Cornell University provides advances of cash or other resources in limited circumstances to meet the business needs of the institution. Michael Abbott, Cornell's chief investment officer, stepped down on Sunday, according to Vice President for University Communications Tommy Bruce.The reason for Abbott's departure remains . Get Cornell news delivered right to your inbox. Office Staff | Office of University Investments Tag: Cornell University. For more information see our quarterly endowment reports. Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. The Executive Vice President and Chief Financial Officer ("EVP" or "EVP/CFO"), reporting to the President, is the most senior non-academic officer for the university. Cornell University Archives | Chief Investment Officer PDF Position Specification - president.cornell.edu It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Executive Vice President and Chief Financial Officer | Cornell Choi, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine. 2021 Reports. Ms. DeStefano is a 1978 graduate of Syracuse University with a bachelor of science in accounting, and a 1997 recipient of a master of business administration in finance from the Curtis Johnson Graduate School of Management at Cornell University. Karl Perman Joins GigNet, Inc. as Chief Security Officer (Photo: Business Wire) Mr. Perman has served critical infrastructure sectors as a senior advisor to assess and transform security and . As chief financial officer, Puccino will direct the Finance Department and continue to lead the Office of Budget and Financial Strategy, which provides key services including institutional reporting; analyses of budgetary, business and institutional resources; and financial and risk management. hT[o0+~TuvB Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. Our institution is uniquely positioned for further transformation, and we have an amazing dean at the helm. A recent expansion of physician services across the city has yielded an almost 40 percent increase in clinical revenue in the past five years, Puccino said. Policy Number: 3.24. The university does not discuss personnel matters and will have no further comment. This policy is being revised and is unavailable at this time. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". All inquiries and materials will be held in confidence. The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. Cornell University2023University PrivacyWeb Accessibility Assistance. The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change). stream As the most senior non-academic officer for the university, the EVP is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. Ms. DeStefano began her tenure with the university in 1990 as the general accounting manager for the contract colleges, having held several positions with progressive responsibility within the finance division, most recently vice president for finance and CFO. The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. Cornell University will form a university-related subsidiary or affiliate, or acquire a controlling interest in a separate entity, only if there is compelling legal and/or business justification. bR{5C=q]Vl !2Ul 0rTafZ"g\"Z;^"/=n]r=|:1.6O&ZcuThcerL..l5.&79b9PnjF/&O9+P+& ~O)ovQ3 A recognized leader in the community development finance industry, Rafael E. Cestero brings more than 30 years of experience in tackling the most pressing housing challenges cities across the nation are facing. December 2021 Quarterly Report. Cornell University requires anyone handling cash, checks, or securities on its behalf to safeguard these assets by applying appropriate internal controls, and that securities be managed in compliance with the bylaws of the Board of Trustees. We are immensely proud to have Ken leading our investment team.