Chief Investment Officer A.J. "Cornell is a wonderful place. "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. 20-Apr-2016 10:05 AM EDT , by Cornell University. Jq3oPgK2Gs7(WUg\ Cornell University provides telephone service for individuals undertaking mission-related activities. "I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next," he added. 1 0 obj We have a great team, he said. 2 0 obj AJ Edwards, Cornell University Cornell University's CIO AJ Edwards will be stepping down effective March 31, the Ivy League school announced. %PDF-1.7 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. Aditya Misra. 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). For more information see our quarterly endowment reports. 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. 2022 Outsourced-Chief Investment Officer Survey 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. 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 . Accordingly, he and the university have agreed that it is in their mutual interests to end the relationship. x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 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. 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. Tag: Cornell University. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements. This authority is ultimately delegated to designated purchasing agents and contracting officers. 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 Investment Office's well-established senior leadership team will manage the office in the interim until a new chief investment officer is named. Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. 2021 Reports. 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. 3 0 obj 7qNa6z)( 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. March 2021 Quarterly Report. 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. It is the responsibility of each operating unit to use, account for, and report such program income properly. Leadership | Board of Trustees | Office of the President | Office of the Provost | Senior Administration. Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. Chief Financial Officer & Chief Investment Officer Celsius Apr 2019 - . Puccino was also instrumental in conceptualizing and implementing the institutions expanded scholarship program that provides debt-free education to medical students in financial need. The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. Policy Number: 4.11. 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. This policy establishes these circumstances and the procedures for making such advances. A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. New York, NY 10065 We are immensely proud to have Ken leading our investment team. Policy Number: 3.24. 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. 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. 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. He is the third CIO to resign in the last six years. East Hill Office Building 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. Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. 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 . Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. The Office of University Investments implements policies established by the board of trustees and its Investment Committee. 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. hT[o0+~TuvB Yale CIO sees 'challenging times ahead' due to rising interest rates, inflation, and geopolitics. 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. 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. September 2021 Quarterly Report. Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. We are fortunate to hire someone of Kens caliber. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change). As IMF director, Miranda coordinated a focused team that oversaw the investment of approximately $11.5 billion in assets for the IMFs Staff Retirement Plan and Retired Staff Benefits Investment Account. Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs Home Business Tools forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been selected as Cornell's chief investment officer, Provost and Acting President Michael Kotlikoff announced today. He will succeed these financial responsibilities from Stephen M. Cohen, executive vice provost for administration and finance, who will retire in September and whose role is being divided into two. Karl Perman Joins GigNet, Inc. as Chief Security Officer (Photo: Business Wire) Mr. Perman has served critical infrastructure sectors as a senior advisor to assess and transform security and . R(jG=[@8} Jd?b>cD"n'Q)AYvy*)4(*6"$!8j#?i UO^ 2h. <>/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>> 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 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. 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. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. Prior to joining Cornell University in 2021, she worked at the School of Health Sciences and Human Performance at Ithaca College. 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. Account Reversion; KFS Payment Processing E-docs (DV, PREQ, PCDO) Cash Deposits at Year-End; Revenue and Expense Year-End Accruals; Deadlines; Business Service Centers. Ken Miranda received a base salary of . endobj 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. 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. The core team of professionals in the university's investment office is already working effectively with the investment committee of the Cornell Board of Trustees to implement a smooth transition and ensure that the university meets its investment targets. 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. 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 Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . 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. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. I wish him all the best in his future endeavors.". Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. The positive projections for the performance of Cornell's endowment and other investments, which are exceeding expectations, will not be affected. 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. This policy replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,. Zh4=4GdgasVvMosT+ti @@SGc09(FeDXK] (I+'C-toYpgO9",& s -- ? (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 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 The minimum investment amount for an FFE is $100,000. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. A.J. %%EOF Report this profile Report Report. Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. . 474 0 obj <> endobj Executive Staff Assistant. He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. Community Preservation Corporation . 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. The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> This policy does not apply to any advance payment required by a vendor. The review process will begin immediately upon receipt of materials. bR{5C=q]Vl !2Ul 0rTafZ"g\"Z;^"/=n]r=|:1.6O&ZcuThcerL..l5.&79b9PnjF/&O9+P+& ~O)ovQ3 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. 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. Chief Investment Officer. 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. <> endobj At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. 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. This policy is being revised and is unavailable at this time. Cornell University 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. 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. 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. Get Cornell news delivered right to your inbox. 317 Day HallCornell UniversityIthaca, NY 14853. 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. The review process will begin immediately upon receipt of materials. The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. Ykf@xPYfXLZwbdcIYFi9}"wi/s1?|Lm:'rvo(VzXjs*EPK .6wi@Zz20T3C|21_geikG; 0d+G{ U*:4xc6J(X=&~E||EsJ}:l:D6hau(?sRZOF_S^ 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 The Investment Office helps support the University's mission of being a top research university that provides accessibility to students. Cornell Universitys central administration establishes all university accounts with banks and other financial institutions using university funds. 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. She has over 20 years of administrative experience. 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. =^"-g$#B#\#=K&&_4I|w|\SqR:rKWayH!oyC*YS$ww`%Z.Ds*D Cornell University. 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. Before joining the university, Ms. DeStefano worked in the corporate sector. 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. June 2021 Quarterly Report. Back Submit. Cornells endowment is in very good hands, DeStefano said. Edwards has served as senior investment officer since March 2008. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. These stewards of, Cornell University formally approves, issues, and maintains in a consistent format, official university policies in a central policy library. 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. 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. The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. ", 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. 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 YLP`-V`af;R$6(5(- Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. In terms of approach, I tend to look at big changes, big themes, to identify market inefficiencies, growth bottlenecks and forced selling pressure that tend to generate the environment for outsized returns, he said. Edwards will assume Abbott's responsibilities on an interim basis until the university has identified a suitable replacement. Miranda earned a doctorate in economics from the University of Chicago in 1986 and a Bachelor of Science in foreign service from Georgetown University in 1981. Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. 2iTm P8 He has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. The Committee establishes. stream Chief Executive Officer . Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. James Walsh, chief investment officer in Cornell's Investment Office, has announced he will be leaving the university to return to England at the end of this academic year. The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs About Us Business Tools Our Policies Contact forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. December 2021 Quarterly Report. %PDF-1.6 % He is a chartered financial analyst. KP}Gz%Xxk+0 #IR}67|JLA]zetUmJ3ZOHM' OZx /)B66J&_}M$c()1Qw[f4^+XBYm}*PIRD z.Ajx4.r7U'TJBUW|@,,8 ?IT$.d[eS5))b`AD`@[I$Lpk9h March 18, 2011. He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. 4 0 obj Phone: (646) 962-9476, Pregnant Patients with Anxiety Have Altered Immune Systems, Differences in Animal Biology Can Affect Cancer Drug Development. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. Visionary leadership from our dean and from the Board of Fellows have led us to this moment, and will be critical to us reaching the next level., Weill Cornell MedicineOffice of External Affairs Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. favorite_border. Get Cornell news delivered right to your inbox. 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. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. 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. Rafael Cestero, BS PAM '90 . Cornell University may change its operating status during and surrounding periods of inclement weather. He was then named CIO in May 2012. Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. Here are the highlights: Endowment growth A recent . rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. endobj Jackie Wandell serves as the Executive Assistant to the Vice President and Chief Risk Officer, Aditya Misra. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. l[c.2HK@)'W@]!$xB8K@! Cornell University is a private research university that provides an exceptional education for undergraduates and graduate and professional students. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. All inquiries and materials will be held in confidence. _IyZ2qe7s~PUI k#QVZNm5eceZ)s/imFDAykT9A33vcN\4?Ei^V,;c WS;!cST}j7y17# 395 Pine Tree Road, Suite 330 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. . . His high-level expertise in long-term investments means he is poised to meet Cornells unique needs, goals and risk tolerance. 0 Cornell University2023University PrivacyWeb Accessibility Assistance. % 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. 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. 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. Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. 505 0 obj <>stream Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing. Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). 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. 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. 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 In this section: Search Committee ( see below) Presidential Advisor for Diversity and Equity, Ann S. Bowers College of Computing and Information Science, Samuel Curtis Johnson Graduate School of Management, Peter and Stephanie Nolan School of Hotel Administration, College of Architecture, Art, and Planning, Charles H. Dyson School of Applied Economics and Management, Weill Cornell Graduate School of Medical Sciences.