Accordingly, he and the university have agreed that it is in their mutual interests to end the relationship. 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. 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. The EVP is the chief . endstream endobj startxref 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 We are immensely proud to have Ken leading our investment team. This policy replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,. His high-level expertise in long-term investments means he is poised to meet Cornells unique needs, goals and risk tolerance. Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. 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. 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. The university does not discuss personnel matters and will have no further comment. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. He is a chartered financial analyst. A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. 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. %PDF-1.7 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 . 395 Pine Tree Road, Suite 330 endobj September 2021 Quarterly Report. Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. 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. 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. We are fortunate to hire someone of Kens caliber. He has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. 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. Edwards to step down. 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. <> He is the third CIO to resign in the last six years. 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 is a wonderful place. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. 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). 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. bR{5C=q]Vl !2Ul 0rTafZ"g\"Z;^"/=n]r=|:1.6O&ZcuThcerL..l5.&79b9PnjF/&O9+P+& ~O)ovQ3 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. 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. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. 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 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 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. 20-Apr-2016 10:05 AM EDT , by Cornell University. The Investment Office helps support the University's mission of being a top research university that provides accessibility to students. Tel: 646-973-4400 1155 Avenue of the Americas Suite 1850 New York, NY 10036 investment@investment.cornell.edu corefixed@investment.cornell.edu Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. 1300 York AvenueBox 314 CU Foundation Funds A key component to the institution's long-term growth centers on increasing its clinical footprint in New York. 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 University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. 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 its units to maintain accurate and complete inventories of their space, through the procedures contained herein. x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 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 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. For more information see our quarterly endowment reports. 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. 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. hT[o0+~TuvB 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. 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. Aditya Misra. Cornell University. Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . We have a great team, he said. All inquiries and materials will be held in confidence. 474 0 obj <> endobj stream 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 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. Get Cornell news delivered right to your inbox. _IyZ2qe7s~PUI k#QVZNm5eceZ)s/imFDAykT9A33vcN\4?Ei^V,;c WS;!cST}j7y17# She has over 20 years of administrative experience. 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. *Y1M/O[5hi%H S`nm_,FWs ?=&^Vjz*TNs`a'4 ],*s:S^,L+\cuSF{pr_SyaBsKMbe[x\RXX+dEx-aeI>nXW*TV Here are the highlights: Endowment growth 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. 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. 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. June 2021 Quarterly Report. "I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next," he added. Miranda succeeds A.J. Jq3oPgK2Gs7(WUg\ (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 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. Edwards will assume Abbott's responsibilities on an interim basis until the university has identified a suitable replacement. The positive projections for the performance of Cornell's endowment and other investments, which are exceeding expectations, will not be affected. Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. 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. Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. 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. The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. 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. 2iTm P8 This policy is being revised and is unavailable at this time. The Investment Office is responsible for implementing policies establishedby the University Board of Trustees and its Investment Committee. 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. 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 He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. 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 This is an amazing trajectorywere firing on all cylindersand we want to keep up the momentum so that we dont plateau, he said. Edwards has served as senior investment officer since March 2008. The review process will begin immediately upon receipt of materials. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. 4 0 obj "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. 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. Accordingly . The Office of University Investments implements policies established by the board of trustees and its Investment Committee. 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. 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. This includes possession, issuance of copies, and storage of keys and other access devices. March 18, 2011. Our institution is uniquely positioned for further transformation, and we have an amazing dean at the helm. 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 . 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. I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. Cornell University may change its operating status during and surrounding periods of inclement weather. Cornell University 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. Chief Executive Officer . In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). Policy Number: 3.24. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. 2022 Outsourced-Chief Investment Officer Survey The Committee establishes. In this section: Search Committee ( see below) . The president is the chief executive and educational officer of the university and is charged with responsibility for providing general supervision over all affairs of the university. ", Skorton added, "Working with the Investment Committee, James helped the university weather the downturn and begin to regain much needed equilibrium in its investment performance. Im thrilled hes joining my senior leadership team and look forward to continuing to work closely with him as we realize our vision for Weill Cornell Medicines long-term growth and success., Im honored to serve Weill Cornell Medicine as its chief financial officer, Puccino said. This authority is ultimately delegated to designated purchasing agents and contracting officers. "After three-and-a-half interesting and enjoyable years at Cornell and in Ithaca, my family and I have decided to return home to the United Kingdom," said Walsh. <> New York, NY 10065 Edwards, who stepped down from the post March 31. R(jG=[@8} Jd?b>cD"n'Q)AYvy*)4(*6"$!8j#?i UO^ 2h. Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. 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. 2021 Reports. Get Cornell news delivered right to your inbox. Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. 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 Cornell University2023University PrivacyWeb Accessibility Assistance. Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. Chief Investment Officer. Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. This policy does not apply to any advance payment required by a vendor. %PDF-1.6 % Miranda, who joined the IMF in 1986, held numerous policy roles including deputy division chief for Japan and senior roles in the Asia and Pacific department and the fiscal affairs department. Im familiar with the culture and have always envisioned myself working in higher education.. To accomplish his vision, he will work closely with colleagues in those offices, along with those from Human Resources; Information and Technology Services; and Capital Planning. Contacts . Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been selected as Cornell's chief investment officer, Provost and Acting President Michael Kotlikoff announced today. If you have a disability and are having trouble accessing information on this website or need materials in an alternate format, contactweb-accessibility@cornell.edufor assistance. Cornell University is a private research university that provides an exceptional education for undergraduates and graduate and professional students. The campaign, launched in June 2021, will enable Weill Cornell Medicine to invest in all three parts of its mission, which includes a precision health enterprise, updated biomedical research space and a new student residence. 3 0 obj rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. 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. Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. %%EOF Ken Miranda received a base salary of . 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^ He was then named CIO in May 2012. 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 . 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. 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. YLP`-V`af;R$6(5(- 0 hbbd```b``SA$S:X$L`x& f`!dVSf7@fU#d$;>f`bd`b``$ > 317 Day HallCornell UniversityIthaca, NY 14853. AJ Edwards, Cornell University Cornell University's CIO AJ Edwards will be stepping down effective March 31, the Ivy League school announced. Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. March 2021 Quarterly Report. 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. December 2021 Quarterly Report. Report this profile Report Report. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Chief Investment Officer A.J. Before joining the university, Ms. DeStefano worked in the corporate sector. The minimum investment amount for an FFE is $100,000. 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. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. 505 0 obj <>stream Community Preservation Corporation . Tag: Cornell University. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. A.J. Chief Financial Officer & Chief Investment Officer Celsius Apr 2019 - . The review process will begin immediately upon receipt of materials. 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. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> EVP and CFO Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. <>/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>> Jackie Wandell serves as the Executive Assistant to the Vice President and Chief Risk Officer, Aditya Misra. The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. 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. endobj 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. hb``` r@(JQ(*rwA Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing.