cornell university chief investment officer

March 2021 Quarterly Report. ", 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. endobj September 2021 Quarterly Report. The Executive Vice President and Chief Financial Officer ("EVP" or "EVP/CFO"), reporting to the President, is the most senior non-academic officer for the university. Chief Investment Officer A.J. 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 Investment Office helps support the University's mission of being a top research university that provides accessibility to students. Before joining the university, Ms. DeStefano worked in the corporate sector. 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. 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. Im familiar with the culture and have always envisioned myself working in higher education.. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> 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. 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. 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. 20-Apr-2016 10:05 AM EDT , by Cornell University. l[c.2HK@)'W@]!$xB8K@! 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. Cornell University is a private research university that provides an exceptional education for undergraduates and graduate and professional students. Phone: (646) 962-9476, Pregnant Patients with Anxiety Have Altered Immune Systems, Differences in Animal Biology Can Affect Cancer Drug Development. Community Preservation Corporation . 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. 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. 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. I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. We are fortunate to hire someone of Kens caliber. Its been an absolute blessing to work for Steve Cohen; hes been an outstanding leader and an incredible mentor to me.. Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. 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 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. Chief Executive Officer . 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. 317 Day HallCornell UniversityIthaca, NY 14853. 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. 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 Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. 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. Office of University Investments. Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. =^"-g$#B#\#=K&&_4I|w|\SqR:rKWayH!oyC*YS$ww`%Z.Ds*D Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. Ive also been fortunate to work alongside a number of really talented people at Weill Cornell Medicine, whose unwavering support have made this role possible. He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. We are immensely proud to have Ken leading our investment team. 1300 York AvenueBox 314 Mr. Girish V. Reddy (Chair): Mr. Donald C. Opatrny: Mr. J. Allen Smith (Vice-Chair): President Martha E. Pollack Cornell University: Mr. Douglas Braunstein Hudson . Woq\:mx$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 2022 Outsourced-Chief Investment Officer Survey Chief Investment Officer. *Y1M/O[5hi%H S`nm_,FWs ?=&^Vjz*TNs`a'4 ],*s:S^,L+\cuSF{pr_SyaBsKMbe[x\RXX+dEx-aeI>nXW*TV <> Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. Edwards has served as senior investment officer since March 2008. Report this profile Report Report. 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. It is the responsibility of each operating unit to use, account for, and report such program income properly. "Cornell is a wonderful place. He is a chartered financial analyst. Edwards will assume Abbott's responsibilities on an interim basis until the university has identified a suitable replacement. Jq3oPgK2Gs7(WUg\ Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. 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 may change its operating status during and surrounding periods of inclement weather. 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. 395 Pine Tree Road, Suite 330 All inquiries and materials will be held in confidence. 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. . East Hill Office Building June 2021 Quarterly Report. Ken Miranda received a base salary of . Here are the highlights: Endowment growth Accordingly . Choi, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine. endobj Edwards to step down. % . 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. 2iTm P8 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. 505 0 obj <>stream 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. Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. Executive Staff Assistant. %PDF-1.6 % <>/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>> The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. 474 0 obj <> endobj 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. 2 0 obj We have a great team, he said. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. 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. _IyZ2qe7s~PUI k#QVZNm5eceZ)s/imFDAykT9A33vcN\4?Ei^V,;c WS;!cST}j7y17# About Building the new economy in Web3. stream Prior to joining Cornell University in 2021, she worked at the School of Health Sciences and Human Performance at Ithaca College. Funds must be invested for a minimum of five years. He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. 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. 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. This policy establishes these circumstances and the procedures for making such advances. CU Foundation Funds 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. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. endstream endobj startxref The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. 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. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. 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 Office of University Investments implements policies established by the board of trustees and its Investment Committee. endobj The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. 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. 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. Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing. Miranda succeeds A.J. Cornell University acquires, records, inventories, maintains, and disposes of capital assets. 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. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". Ykf@xPYfXLZwbdcIYFi9}"wi/s1?|Lm:'rvo(VzXjs*EPK .6wi@Zz20T3C|21_geikG; 0d+G{ U*:4xc6J(X=&~E||EsJ}:l:D6hau(?sRZOF_S^ In this section: Search Committee ( see below) 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 University2023University PrivacyWeb Accessibility Assistance. She has over 20 years of administrative experience. He is the third CIO to resign in the last six years. Tag: Cornell University. Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. Cornell University provides telephone service for individuals undertaking mission-related activities. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. This policy is being revised and is unavailable at this time. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. 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. 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 favorite_border. 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 The minimum investment amount for an FFE is $100,000. Leadership | Board of Trustees | Office of the President | Office of the Provost | Senior Administration. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. 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 This includes possession, issuance of copies, and storage of keys and other access devices. This is an amazing trajectorywere firing on all cylindersand we want to keep up the momentum so that we dont plateau, he said. Aditya Misra. 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. 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. hb``` r@(JQ(*rwA 2021 Reports. He has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. 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. Contacts . Policy Number: 3.24. The university does not discuss personnel matters and will have no further comment. Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. Get Cornell news delivered right to your inbox. 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. In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. 4 0 obj This policy replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,. Accordingly, he and the university have agreed that it is in their mutual interests to end the relationship. bR{5C=q]Vl !2Ul 0rTafZ"g\"Z;^"/=n]r=|:1.6O&ZcuThcerL..l5.&79b9PnjF/&O9+P+& ~O)ovQ3 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. 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. Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. The review process will begin immediately upon receipt of materials. Cornells endowment is in very good hands, DeStefano said. 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. 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 will also work closely with Joanne DeStefano, chief financial officer of Cornell University. A.J. 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. This authority is ultimately delegated to designated purchasing agents and contracting officers.