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. Zh4=4GdgasVvMosT+ti @@SGc09(FeDXK] (I+'C-toYpgO9",& s -- ? Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. Back Submit. endobj The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. R(jG=[@8} Jd?b>cD"n'Q)AYvy*)4(*6"$!8j#?i UO^ 2h. Cornell University may change its operating status during and surrounding periods of inclement weather. So far in fiscal year 2010, Cornell's endowment performance is up 10 percent, after losing more than a quarter of its value in fiscal year 2009, as was the case with many of the university's peers in the wake of the 2008 financial crisis. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the, Cornell Universitys Board of Trustees delegates significant procurement authority for the acquisition of goods and services from external sources on the universitys behalf. stream It is an honor and privilege to contribute to the role of the endowment in supporting students, faculty research and scholarship at this world-class research institution., Many of his family members have worked in academia, he added. The review process will begin immediately upon receipt of materials. rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. June 2021 Quarterly Report. 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 0 Cornell University Office of Investments About the Investment Office The Investment Office is responsible for implementing policies established by the University Board of Trustees and its Investment Committee. A key component to the institution's long-term growth centers on increasing its clinical footprint in New York. Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. This policy replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,. This includes possession, issuance of copies, and storage of keys and other access devices. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements. Cornell Universitys central administration establishes all university accounts with banks and other financial institutions using university funds. 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. The Investment Office helps support the University's mission of being a top research university that provides accessibility to students. Cornell's colleges and schools encompass more than 100 fields of study, with locations in Ithaca, New York, New York City and Doha, Qatar. 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. 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. This is an amazing trajectorywere firing on all cylindersand we want to keep up the momentum so that we dont plateau, he said. The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. 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 Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. We have a great team, he said. 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. 3 0 obj Chief Investment Officer A.J. 474 0 obj <> endobj Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. Community Preservation Corporation . Accordingly, he and the university have agreed that it is in their mutual interests to end the relationship. "After three-and-a-half interesting and enjoyable years at Cornell and in Ithaca, my family and I have decided to return home to the United Kingdom," said Walsh. Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. Cornell University. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. As the most senior non-academic officer for the university, the EVP is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. 2iTm P8 Choi, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine. He is a chartered financial analyst. 505 0 obj <>stream 20-Apr-2016 10:05 AM EDT , by Cornell University. Prior to Cornell, Walsh spent 11 years at Hermes Investment Management in London, where he became head of strategy and alternatives, after being the firm's chief economist. =^"-g$#B#\#=K&&_4I|w|\SqR:rKWayH!oyC*YS$ww`%Z.Ds*D The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. Leadership | Board of Trustees | Office of the President | Office of the Provost | Senior Administration. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> bR{5C=q]Vl !2Ul 0rTafZ"g\"Z;^"/=n]r=|:1.6O&ZcuThcerL..l5.&79b9PnjF/&O9+P+& ~O)ovQ3 This authority is ultimately delegated to designated purchasing agents and contracting officers. 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 Policy Number: 3.24. Contacts . 2022 Outsourced-Chief Investment Officer Survey %%EOF endobj 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. Aditya Misra. 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. December 2021 Quarterly Report. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. 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. 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. The Investment Office is responsible for implementing policies establishedby the University Board of Trustees and its Investment Committee. 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 has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . l[c.2HK@)'W@]!$xB8K@! Puccino was also instrumental in conceptualizing and implementing the institutions expanded scholarship program that provides debt-free education to medical students in financial need. Vice . 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. Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. Report this profile Report Report. . The EVP is the chief . %PDF-1.6 % Its been an absolute blessing to work for Steve Cohen; hes been an outstanding leader and an incredible mentor to me.. 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. 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 University2023University PrivacyWeb Accessibility Assistance. 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. Rafael Cestero, BS PAM '90 . Here are the highlights: Endowment growth He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. 1 0 obj CU Foundation Funds 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 Financial Officer & Chief Investment Officer Celsius Apr 2019 - . 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. 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. 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. Jackie Wandell serves as the Executive Assistant to the Vice President and Chief Risk Officer, Aditya Misra. Ithaca, NY 14850, Cornell University requires all operating units to develop their own unit-specific financial internal control plans using guidelines provided by the Office of the University Controller. About Building the new economy in Web3. Ykf@xPYfXLZwbdcIYFi9}"wi/s1?|Lm:'rvo(VzXjs*EPK .6wi@Zz20T3C|21_geikG; 0d+G{ U*:4xc6J(X=&~E||EsJ}:l:D6hau(?sRZOF_S^ Scott Puccino, a distinguished financial and business strategist who has dedicated three decades of his career to Weill Cornell Medicine, has been appointed the institutions chief financial officer, effective Feb 1. 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. Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. 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 . 2021 Reports. . Miranda, who joined the IMF in 1986, held numerous policy roles including deputy division chief for Japan and senior roles in the Asia and Pacific department and the fiscal affairs department. A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. 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. Chief Investment Officer. The president is the chief executive and educational officer of the university and is charged with responsibility for providing general supervision over all affairs of the university. 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. 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 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. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. Cornell University is a private research university that provides an exceptional education for undergraduates and graduate and professional students. hT[o0+~TuvB AJ Edwards, Cornell University Cornell University's CIO AJ Edwards will be stepping down effective March 31, the Ivy League school announced. Our institution is uniquely positioned for further transformation, and we have an amazing dean at the helm. Cornell University 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. Walsh has been responsible for managing the university's investments since 2006 and directing an office that grew to 25 people from 17 during his tenure. Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. ", 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. favorite_border. Before joining the university, Ms. DeStefano worked in the corporate sector. 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. This policy is being revised and is unavailable at this time. Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. A recent . This policy establishes these circumstances and the procedures for making such advances. 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. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. 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. Policy Number: 4.11. 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. 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. 317 Day HallCornell UniversityIthaca, NY 14853. The review process will begin immediately upon receipt of materials. 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. Accordingly . 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. Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. All inquiries and materials will be held in confidence. YLP`-V`af;R$6(5(- 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. 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. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. 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. Yale CIO sees 'challenging times ahead' due to rising interest rates, inflation, and geopolitics. 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 Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. 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 expects costs to be charged to the appropriate sponsored project account when first incurred. <> 395 Pine Tree Road, Suite 330 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. Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. Miranda succeeds A.J. %PDF-1.7 Comments, questions, nominations, and applications should be directed to the Search Advisory Committee at evpcfosearch@cornell.edu. I have had the honor to work with a great group of talented and dedicated people, and I've learned a lot during my time here that I will apply to new endeavors in the U.K. 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. 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 . I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. Edwards, who stepped down from the post March 31. The Investment Office's well-established senior leadership team will manage the office in the interim until a new chief investment officer is named. 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. 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). 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 Prior to joining Cornell University in 2021, she worked at the School of Health Sciences and Human Performance at Ithaca College. 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 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. 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. This policy does not apply to any advance payment required by a vendor. <>/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>> Kenneth Miranda, director of the International Monetary Funds (IMF) investment office, has been selected as Cornells chief investment officer, Provost and Acting President Michael Kotlikoff announced today. Ken Miranda received a base salary of . Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. Get Cornell news delivered right to your inbox. At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. _IyZ2qe7s~PUI k#QVZNm5eceZ)s/imFDAykT9A33vcN\4?Ei^V,;c WS;!cST}j7y17# A.J. He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. 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. March 18, 2011. East Hill Office Building 1300 York AvenueBox 314 The Office of University Investments implements policies established by the board of trustees and its Investment Committee. The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change). 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. 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.
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