cornell university chief investment officer

395 Pine Tree Road, Suite 330 R(jG=[@8} Jd?b>cD"n'Q)AYvy*)4(*6"$!8j#?i UO^ 2h. 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. We are fortunate to hire someone of Kens caliber. Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. 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 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. It is the responsibility of each operating unit to use, account for, and report such program income properly. Get Cornell news delivered right to your inbox. The chief investment officer manages day-to-day operations of Cornells long-term investments and appoints investment managers, monitors the overall investment program and manages the office. hb``` r@(JQ(*rwA Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. Vice . 2021 Reports. He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. Accordingly, he and the university have agreed that it is in their mutual interests to end the relationship. This policy includes a chain of command, Cornell University requires that departments and units maintain control of all devices and systems that provide access to university facilities and vehicles. =^"-g$#B#\#=K&&_4I|w|\SqR:rKWayH!oyC*YS$ww`%Z.Ds*D Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. 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 . endobj 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. . Executive Staff Assistant. endobj 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. 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. % Funds must be invested for a minimum of five years. Edwards, who stepped down from the post March 31. The positive projections for the performance of Cornell's endowment and other investments, which are exceeding expectations, will not be affected. For more information see our quarterly endowment reports. Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. 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. The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. 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 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. Our institution is uniquely positioned for further transformation, and we have an amazing dean at the helm. The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. 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 was then named CIO in May 2012. 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. 1300 York AvenueBox 314 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. 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. 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. 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. . 474 0 obj <> endobj The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. 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. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. The Committee establishes. Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. These stewards of, Cornell University formally approves, issues, and maintains in a consistent format, official university policies in a central policy library. 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 EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. Zh4=4GdgasVvMosT+ti @@SGc09(FeDXK] (I+'C-toYpgO9",& s -- ? The EVP is the chief . I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. Jackie Wandell serves as the Executive Assistant to the Vice President and Chief Risk Officer, Aditya Misra. <> Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. 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. 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. He is the third CIO to resign in the last six years. The university does not discuss personnel matters and will have no further comment. 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. 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. 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. 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. Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. bR{5C=q]Vl !2Ul 0rTafZ"g\"Z;^"/=n]r=|:1.6O&ZcuThcerL..l5.&79b9PnjF/&O9+P+& ~O)ovQ3 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. 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. 20-Apr-2016 10:05 AM EDT , by Cornell University. Cornell University. 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. 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. The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change). 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 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. Get Cornell news delivered right to your inbox. We have a great team, he said. Ykf@xPYfXLZwbdcIYFi9}"wi/s1?|Lm:'rvo(VzXjs*EPK .6wi@Zz20T3C|21_geikG; 0d+G{ U*:4xc6J(X=&~E||EsJ}:l:D6hau(?sRZOF_S^ 2022 Outsourced-Chief Investment Officer Survey *Y1M/O[5hi%H S`nm_,FWs ?=&^Vjz*TNs`a'4 ],*s:S^,L+\cuSF{pr_SyaBsKMbe[x\RXX+dEx-aeI>nXW*TV The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. 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. Im familiar with the culture and have always envisioned myself working in higher education.. In this section: Search Committee ( see below) Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . 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. 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. _IyZ2qe7s~PUI k#QVZNm5eceZ)s/imFDAykT9A33vcN\4?Ei^V,;c WS;!cST}j7y17# East Hill Office Building 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 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). 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. Edwards will assume Abbott's responsibilities on an interim basis until the university has identified a suitable replacement. 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. 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. 7qNa6z)( The Office of University Investments implements policies established by the board of trustees and its Investment Committee. Ken Miranda received a base salary of . He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. We are immensely proud to have Ken leading our investment team. The review process will begin immediately upon receipt of materials. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. 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 CU Foundation Funds <> 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. New York, NY 10065 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. 3 0 obj It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Executive Vice President and Chief Financial Officer | Cornell 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. March 18, 2011. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. March 2021 Quarterly Report. Walsh reports jointly to President David Skorton and Board of Trustees Investment Committee Chair Paul Gould, who said, "James has managed our endowment office professionally during a very difficult economic period, and we have appreciated his leadership. 0 Aditya Misra. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the, Cornell Universitys Board of Trustees delegates significant procurement authority for the acquisition of goods and services from external sources on the universitys behalf. Chief Financial Officer & Chief Investment Officer Celsius Apr 2019 - . rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. 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. Puccino was also instrumental in conceptualizing and implementing the institutions expanded scholarship program that provides debt-free education to medical students in financial need. Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. Rafael Cestero, BS PAM '90 . 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. 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. Cornell University provides telephone service for individuals undertaking mission-related activities. 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 is a private research university that provides an exceptional education for undergraduates and graduate and professional students. Tag: Cornell University. 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. Community Preservation Corporation . 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. 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. 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 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. In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". Office of University Investments. . Cornell University acquires, records, inventories, maintains, and disposes of capital assets. 505 0 obj <>stream He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. His high-level expertise in long-term investments means he is poised to meet Cornells unique needs, goals and risk tolerance. September 2021 Quarterly Report. 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. Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. stream Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. She has over 20 years of administrative experience. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. 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. 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. 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. I wish him all the best in his future endeavors.". Tel: 646-973-4400 1155 Avenue of the Americas Suite 1850 New York, NY 10036 investment@investment.cornell.edu corefixed@investment.cornell.edu About Building the new economy in Web3. 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. 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. Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements. l[c.2HK@)'W@]!$xB8K@! Woq\:mx$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 Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. EVP and CFO Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for 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. 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 This policy is being revised and is unavailable at this time. Its been an absolute blessing to work for Steve Cohen; hes been an outstanding leader and an incredible mentor to me.. "Cornell is a wonderful place. Edwards to step down. 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. The Investment Office helps support the University's mission of being a top research university that provides accessibility to students. <>/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>> Accordingly . 317 Day HallCornell UniversityIthaca, NY 14853. Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. 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 Yale CIO sees 'challenging times ahead' due to rising interest rates, inflation, and geopolitics. This includes possession, issuance of copies, and storage of keys and other access devices. 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. He is a chartered financial analyst. 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. Chief Executive Officer . favorite_border. 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.

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