Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. We are immensely proud to have Ken leading our investment team. 317 Day HallCornell UniversityIthaca, NY 14853. Back Submit. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. 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 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. 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. He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. Get Cornell news delivered right to your inbox. %PDF-1.7 I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. 2iTm P8 Community Preservation Corporation . Chief Investment Officer A.J. Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. <>/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>> 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. 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. 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. <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. 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. 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. 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. 2 0 obj 1300 York AvenueBox 314 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. 1 0 obj A.J. The Investment Office helps support the University's mission of being a top research university that provides accessibility to students. hT[o0+~TuvB Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. %%EOF 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. Accordingly . Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. Here are the highlights: Endowment growth Policy Number: 3.24. Cornell University acquires, records, inventories, maintains, and disposes of capital assets. Funds must be invested for a minimum of five years. Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. . hb``` r@(JQ(*rwA Get Cornell news delivered right to your inbox. The positive projections for the performance of Cornell's endowment and other investments, which are exceeding expectations, will not be affected. The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. 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. 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). . This policy is being revised and is unavailable at this time. 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 . 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. %PDF-1.6 % Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . Puccino was also instrumental in conceptualizing and implementing the institutions expanded scholarship program that provides debt-free education to medical students in financial need. 20-Apr-2016 10:05 AM EDT , by Cornell University. 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. "Cornell is a wonderful place. 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. Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. Cornell University provides telephone service for individuals undertaking mission-related activities. 7qNa6z)( I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". We are fortunate to hire someone of Kens caliber. rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. 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. 2021 Reports. endobj 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. Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. Report this profile Report Report. 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. x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 This includes possession, issuance of copies, and storage of keys and other access devices. He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. 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. 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 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 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. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. 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. We have a great team, he said. Im familiar with the culture and have always envisioned myself working in higher education.. Similarly, research support from the National Institutes of Health has surged 75 percent in the past five years, and the number of investigators who are funded by the NIH has increased by 50 percent, Puccino said. 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. 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. Cornell University. 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. Comments, questions, nominations, and applications should be directed to the Search Advisory Committee at evpcfosearch@cornell.edu. 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. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. I wish him all the best in his future endeavors.". Office of University Investments. 2022 Outsourced-Chief Investment Officer Survey 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. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. <> 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. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. Cornell University 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. 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. The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change). Yale CIO sees 'challenging times ahead' due to rising interest rates, inflation, and geopolitics. 395 Pine Tree Road, Suite 330 September 2021 Quarterly Report. Prior to Cornell, Walsh spent 11 years at Hermes Investment Management in London, where he became head of strategy and alternatives, after being the firm's chief economist. 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 EVP is the chief . He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. 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 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. Before joining the university, Ms. DeStefano worked in the corporate sector. A key component to the institution's long-term growth centers on increasing its clinical footprint in New York. He is a chartered financial analyst. New York, NY 10065 He is the third CIO to resign in the last six years. Ykf@xPYfXLZwbdcIYFi9}"wi/s1?|Lm:'rvo(VzXjs*EPK .6wi@Zz20T3C|21_geikG; 0d+G{ U*:4xc6J(X=&~E||EsJ}:l:D6hau(?sRZOF_S^ =^"-g$#B#\#=K&&_4I|w|\SqR:rKWayH!oyC*YS$ww`%Z.Ds*D endstream endobj startxref Cornell Universitys central administration establishes all university accounts with banks and other financial institutions using university funds. 0 This policy establishes these circumstances and the procedures for making such advances. Phone: (646) 962-9476, Pregnant Patients with Anxiety Have Altered Immune Systems, Differences in Animal Biology Can Affect Cancer Drug Development. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. 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. _IyZ2qe7s~PUI k#QVZNm5eceZ)s/imFDAykT9A33vcN\4?Ei^V,;c WS;!cST}j7y17# 474 0 obj <> endobj 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. March 2021 Quarterly Report. 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 .