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 replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,. 1300 York AvenueBox 314 All inquiries and materials will be held in confidence. The Investment Office helps support the University's mission of being a top research university that provides accessibility to students. James Walsh, chief investment officer in Cornell's Investment Office, has announced he will be leaving the university to return to England at the end of this academic year. Tel: 646-973-4400 1155 Avenue of the Americas Suite 1850 New York, NY 10036 investment@investment.cornell.edu corefixed@investment.cornell.edu 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. 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. 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. 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. AJ Edwards, Cornell University Cornell University's CIO AJ Edwards will be stepping down effective March 31, the Ivy League school announced. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. Similarly, research support from the National Institutes of Health has surged 75 percent in the past five years, and the number of investigators who are funded by the NIH has increased by 50 percent, Puccino said. Here are the highlights: Endowment growth He highlighted the expertise of Director of Budget and Institutional Resources Andrew Rosenau; Senior Director of Institutional Reporting and Analytics Susan Vuong; Senior Director of Administration Thomas Blair; Controller Joseph Schwartz and his longtime assistant Nadeige Fortune. 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 has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. 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. 474 0 obj <> endobj Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. Edwards to step down. Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 He was then named CIO in May 2012. East Hill Office Building "After three-and-a-half interesting and enjoyable years at Cornell and in Ithaca, my family and I have decided to return home to the United Kingdom," said Walsh. 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. We are immensely proud to have Ken leading our investment team. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 29 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> She has over 20 years of administrative experience. About Building the new economy in Web3. Prior to joining Cornell University in 2021, she worked at the School of Health Sciences and Human Performance at Ithaca College. 7qNa6z)( Our institution is uniquely positioned for further transformation, and we have an amazing dean at the helm. 2iTm P8 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. 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. %PDF-1.6 % Before joining the university, Ms. DeStefano worked in the corporate sector. The chief investment officer manages day-to-day operations of Cornells long-term investments and appoints investment managers, monitors the overall investment program and manages the office. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. 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. Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. 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. This is an amazing trajectorywere firing on all cylindersand we want to keep up the momentum so that we dont plateau, he said. 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. This policy includes a chain of command, Cornell University requires that departments and units maintain control of all devices and systems that provide access to university facilities and vehicles. Cornell University may change its operating status during and surrounding periods of inclement weather. 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. This policy does not apply to any advance payment required by a vendor. 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. Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. 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. Cornell University is a private research university that provides an exceptional education for undergraduates and graduate and professional students. We are fortunate to hire someone of Kens caliber. 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. 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. Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. 494 0 obj <>/Filter/FlateDecode/ID[<9EECB67782F25A48B33BD3F0C1474532><53F81BFC1FDC244EBA8DD9CBE6B4AE92>]/Index[474 32]/Info 473 0 R/Length 97/Prev 276269/Root 475 0 R/Size 506/Type/XRef/W[1 3 1]>>stream The EVP is the chief . The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. hT[o0+~TuvB Cornell University acquires, records, inventories, maintains, and disposes of capital assets. The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. 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. He will succeed these financial responsibilities from Stephen M. Cohen, executive vice provost for administration and finance, who will retire in September and whose role is being divided into two. 2 0 obj 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. It is an honor and privilege to contribute to the role of the endowment in supporting students, faculty research and scholarship at this world-class research institution., Many of his family members have worked in academia, he added. March 2021 Quarterly Report. 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. For more information see our quarterly endowment reports. This policy establishes these circumstances and the procedures for making such advances. 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. ", Skorton added, "Working with the Investment Committee, James helped the university weather the downturn and begin to regain much needed equilibrium in its investment performance. I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. 0 He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. endobj favorite_border. Funds must be invested for a minimum of five years. In this section: Search Committee ( see below) . Interim Provost for Medical Affairs; Interim Dean of Weill Cornell Medicine, Deputy Provost and Presidential Advisor for Diversity and Equity, Chair, Vice President for Facilities and Campus Services, Vice President and Chief Global Information Officer, Chief of Staff and Special Counsel to the President, Executive Vice President and Chief Financial Officer, Vice President for Student and Campus Life, Vice President and Chief Human Resources Officer, Vice President for Alumni Affairs and Development, Vice President for Research and Innovation, Joseph Silbert Dean of the College of Engineering, Dean of the Ann S. Bowers College of Computing and Information Science, Dean of the Jeb E. Brooks School of Public Policy, Dean of the Graduate School and Vice Provost for Graduate Education, Kenneth F. Kahn Dean of the School of Industrial and Labor Relations, Rebecca Q. and James C. Morgan Dean of the College of Human Ecology, Ronald P. Lynch Dean of the College of Agriculture and Life Sciences, Harold Tanner Dean of the College of Arts and Sciences and Hans A. Bethe Professor, Charles Field Knight Dean of the Cornell SC Johnson College of Business, Dean of the School of Continuing Education, Jack and Rilla Neafsey Dean and Vice Provost of Cornell Tech, Anne and Elmer Lindseth Dean of the Samuel Curtis Johnson Graduate School of Management, Dean of the Peter and Stephanie Nolan School of Hotel Administration and E. M. Statler Professor of Hotel Administration, Austin O. Hooey Dean of the College of Veterinary Medicine, Gale and Ira Drukier Dean of the College of Architecture, Art, and Planning, Dean of the Charles H. Dyson School of Applied Economics and Management, Vice Provost for Engagement and Land-Grant Affairs, Dean, Weill Cornell Medical College-Qatar, Dean, Weill Cornell Graduate School of Medical Sciences, Executive Vice Provost, Administration and Finance, Associate Vice President, Deputy General Counsel, and Secretary of the Medical College, President and CEO, Physician Organization, Senior Associate Dean, Innovation and Initiatives, Senior Associate Dean, International Affairs and Affiliations. Chief Investment Officer. 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. 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 . Its been an absolute blessing to work for Steve Cohen; hes been an outstanding leader and an incredible mentor to me.. 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. Ive also been fortunate to work alongside a number of really talented people at Weill Cornell Medicine, whose unwavering support have made this role possible. hb``` r@(JQ(*rwA Im familiar with the culture and have always envisioned myself working in higher education.. Nationally, she is a member of the National Association of College and University Business Officers (NACUBO), and has held board of director positions with the Kuali Foundation and the Council on Governmental Relations (COGR). A national search firm will lead that effort, and Mary Opperman, vice president for human resources, will coordinate the search and the transition for the university. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. Ykf@xPYfXLZwbdcIYFi9}"wi/s1?|Lm:'rvo(VzXjs*EPK .6wi@Zz20T3C|21_geikG; 0d+G{ U*:4xc6J(X=&~E||EsJ}:l:D6hau(?sRZOF_S^ hbbd```b``SA$S:X$L`x& f`!dVSf7@fU#d$;>f`bd`b``$ > The Committee establishes. As IMF director, Miranda coordinated a focused team that oversaw the investment of approximately $11.5 billion in assets for the IMFs Staff Retirement Plan and Retired Staff Benefits Investment Account. Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing. 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. Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. Mr. Girish V. Reddy (Chair): Mr. Donald C. Opatrny: Mr. J. Allen Smith (Vice-Chair): President Martha E. Pollack Cornell University: Mr. Douglas Braunstein Hudson . Chief Executive Officer . Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. endobj Contacts . 2021 Reports. The Investment Office is responsible for implementing policies establishedby the University Board of Trustees and its Investment Committee. Im thrilled hes joining my senior leadership team and look forward to continuing to work closely with him as we realize our vision for Weill Cornell Medicines long-term growth and success., Im honored to serve Weill Cornell Medicine as its chief financial officer, Puccino said. <> 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. Miranda earned a doctorate in economics from the University of Chicago in 1986 and a Bachelor of Science in foreign service from Georgetown University in 1981. Cornell University. He will seek to increase Weill Cornell Medicines clinical footprint throughout New York City, invest in the institutions biomedical research activities with the goal of increasing sponsored research opportunities, and oversee the financial planning for a new student residence. %%EOF =^"-g$#B#\#=K&&_4I|w|\SqR:rKWayH!oyC*YS$ww`%Z.Ds*D %PDF-1.7 Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. To accomplish his vision, he will work closely with colleagues in those offices, along with those from Human Resources; Information and Technology Services; and Capital Planning. He will continue to grow Weill Cornell Medicines economic relationship with its clinical partner NewYork-Presbyterian, the bond between them immeasurably stronger amid the COVID-19 pandemic. 317 Day HallCornell UniversityIthaca, NY 14853. Cornell University will form a university-related subsidiary or affiliate, or acquire a controlling interest in a separate entity, only if there is compelling legal and/or business justification. His high-level expertise in long-term investments means he is poised to meet Cornells unique needs, goals and risk tolerance. In the unlikely event that a unit must ask the university to establish and maintain a separate account, the university requires the unit to institute, The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. Woq\:mx$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 Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . The Chief Investment Officer is responsible for the day-to-day oversight of the Investment Office, and is supported by a dedicated team of investment professionals. Edwards will assume Abbott's responsibilities on an interim basis until the university has identified a suitable replacement. 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. . I am looking forward to collaborating with the solid staff in the Office of University Investments who have a valuable, proven skill set, Miranda said. Cornell University2023University PrivacyWeb Accessibility Assistance. Community Preservation Corporation . Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. Vice . 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. Get Cornell news delivered right to your inbox. Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. Yale CIO sees 'challenging times ahead' due to rising interest rates, inflation, and geopolitics. Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. Cornells endowment is in very good hands, DeStefano said. 20-Apr-2016 10:05 AM EDT , by Cornell University. 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. 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. Miranda succeeds A.J. Rafael Cestero, BS PAM '90 . This authority is ultimately delegated to designated purchasing agents and contracting officers. September 2021 Quarterly Report. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. 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. 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 1 0 obj At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. EVP and CFO Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. The minimum investment amount for an FFE is $100,000. A recent . He is a chartered financial analyst. In the year and a half since Kenneth Miranda stepped up to lead Cornell's investment office as chief investment officer, the team has reported strong endowment returns, implemented new investment strategies for 2017, and completed phase one of a move to New York City. 2022 Outsourced-Chief Investment Officer Survey Puccino was also instrumental in conceptualizing and implementing the institutions expanded scholarship program that provides debt-free education to medical students in financial need. 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 . He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations.
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