The University of Search for an EVP COO

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An invitation to apply for the position of

EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER

THE SEARCH

The seeks nominations and applications for the position of Executive Vice President and Chief Operating Officer (COO). The next COO will join the University at a time of celebration and opportunity as it welcomes its ninth president, James E. Ryan, and begins the commemoration of its 200th year. From its inception, the University has been motivated by a grand ambition to develop citizen leaders in all fields of endeavor and to contribute to the common good in solving the most challenging issues of our time, in service of the Commonwealth of Virginia, the nation, and the world. President-Elect Ryan shares this ambitious calling.

The University has a strong arts and sciences faculty, a broad range of professional schools and a strong academic medical center. From its unique student experience focused on academic rigor, honor, student self-governance, and public service, the University has constructed an unusually strong culture, academically and personally, that has engendered great loyalty and has enabled it to build the financial resources that are essential for a great university. With its financial foundation and excellent location in an increasingly prosperous part of the country, UVA has an envious array of strategic possibilities. The president intends to use every resource available in the University to enhance this distinctive academic and intellectual culture for both students and faculty. The COO will be a vital member of the leadership team, a partner to the Provost, and the steward of resources that are essential for distinction.

Reporting to the President and working in close concert with the President, the Provost, the Executive Vice President for Health Affairs, and the Board of Visitors, the COO is the University’s chief administrative, business and operating officer. The COO, in conjunction with the Provost and EVP for Health Affairs, oversees the University’s financial and administrative functions, including human resources, campus services, facilities, real estate, planning and project management, information technology, emergency preparedness and public safety, and economic development. The COO is elected by the Board of Visitors on the nomination of the President and serves as an officer of the Board of Visitors. More information about the search is available at https://executivesearch.virginia.edu/search/evp-and-chief-operating-officer.

The University of Virginia Search for an EVP COO

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THE UNIVERSITY OF VIRGINIA

The University of Virginia was founded by Thomas Jefferson in 1819 to advance human knowledge, educate leaders and cultivate an informed citizenry. Today, UVA is a diverse global community of over 45,800 students, faculty and staff. University students represent virtually every state in the U.S., and 124 countries, and our 224,000 alumni are active in support of our mission to serve the greater good.

For 2018, the University was ranked the No. 3 best public university by U.S. News & World Report. In the 19 years since U.S. News began ranking public universities as a separate category, UVA has ranked in the top three and continues to rank in the Top 30 among the best of all national universities, public and private. The University of Virginia Health System is a renowned academic medical center committed to providing outstanding patient care, educating tomorrow's health care leaders and discovering new and better ways to treat disease. The University's Medical Center and its physicians continue to be recognized for their excellence in patient care, education and research.

A World Treasure

In 1987, UNESCO named the University (in conjunction with Monticello) a World Heritage Site. This rare distinction has been bestowed upon only the world’s most culturally significant landmarks. As a proud recipient of this honor, UVA is one of only two such sites still being used for its original purpose. Today, the original Academical Village continues to bring Jefferson's vision to life every day. The Rotunda—originally the University’s library—still serves as the heart of the University. The eastern and western sides of retain the unique pavilions and student living quarters originally sketched by Jefferson. These buildings continue to play a major role in the University’s community, housing our most honored faculty and student leaders, living and learning together.

Research Portfolio

UVA was founded to question convention, to expand understanding and to harness the “useful sciences” as a means to advance society. Two centuries later, as a major research institution, we continue to uphold the ideals that made us unique among universities: our pursuit of discovery through collaboration and cross- disciplinary exploration. With core investments in strengthening our research capabilities, UVA is focusing research on intellectual and societal challenges where it can have the most impact. As part of this effort, the University is investing in several cross- disciplinary initiatives that address complex challenges – including Data Science, Environmental Resilience, Global Infectious Disease, and the Brain — that provide valuable educational and research opportunities and that generate scholarship and research with a measurable impact. These initiatives align with societal needs and create new knowledge that produces unanticipated technologies and innovative ideas. UVA was awarded $353 million in sponsored research funding in FY17.

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Organization and Finance

The University and its foundations have developed a formidable financial foundation with approximately $9.1 billion invested in the University of Virginia Investment Management

Company’s long-term pool. The annual endowment contribution supplementing the Academic Division operating budget is approximately $192 million, equivalent to 11.2% of the budget. In 2016, the Board established a strategic investment fund by aggregating a variety of operating reserves totaling nearly $2.1 billion; approximately $100 million of investment returns annually from this fund are dedicated to transformational investments in the quality of UVA education, research and health care services. An important element of our endowment growth has been the performance of the University of Virginia Investment Management Company, which achieved an 8.5% return over the past ten years, compared to a benchmark of 5.4%. The University has also implemented a long-term financial management plan to capture operating efficiencies of $150 million over seven years, to reduce borrowing costs by refinancing outstanding indebtedness, and to aggressively manage cash, all for the purpose of generating additional funds for reinvestment in the University. This stewardship of the University’s financial resources has recently led all three major rating agencies to affirm an AAA rating for the outstanding debt. As one agency stated, “We continue to assess UVA’s enterprise and financial profile as extremely strong.”

Health System

The health system is led by the Executive Vice President for Health Affairs (EVPHA) directly overseeing the Medical Center, School of Medicine, University Physicians Group and Health System Library. Over the past three years, the health system leadership team has proven itself one of the most effective in the country. The health system represents more than one-half of the $3.2 billion annual operating budget and is leading the University in generating many areas of research. The health system has entered into a variety of innovative affiliations and joint ventures to expand its footprint, enabling new operating models to meet the ambitious education, research and clinical missions. More notable affiliations include a joint venture, Novant Health/UVA Health System, to provide clinical services to patients in north-central Virginia and an academic affiliation with Inova Health System, the largest health care provider in Northern Virginia, to collaborate on research, medical education and the recruitment of preeminent researchers, scientists and investigators to the Commonwealth. This partnership also contemplates an expanded presence in the Washington, D.C. region for additional academic pursuits, including engineering, graduate business, and leadership training.

Global Engagement

Since its inception, the University of Virginia has been an American institution with a uniquely global perspective - of UVA’s eight original faculty members, five were from outside the United States. Today, our level of engagement in the world is stronger than ever—from research initiatives designed to address key global challenges, such as our partnership with organizations like the Max Planck Society, to our presence in Shanghai and London where we’re working to internationalize The University of Virginia Search for an EVP COO

Page 4 our curriculum and strengthen global partnerships; to the efforts of Darden and McIntire to deepen engagement with the global business landscape.

Making a World-Class Education Accessible to All

Now entering its third century, the University of Virginia offers an affordable, world-class education that is consistently ranked among the nation’s best. UVA admits talented students from across the Commonwealth, the nation and the globe, without consideration of their financial situation. UVA is one of two public universities that has both a need-blind admission process and that meets 100 percent of admitted students’ demonstrated need. The University offers robust student scholarship support to attract the best and brightest deserving students form all backgrounds, while protecting against excessive student debt.

Student Experience

The student experience is unique. That experience is nurtured by many aspects of University life — the elegance of Jefferson’s architecture, the Honor System and the resulting community of trust, the Lawn and its residential community for faculty and students, long- held values, academic excellence, student-body diversity, retention (97% first year retention) and graduation (six year rate of 94%) rates among the highest in the country, the primacy of student self-governance on matters of consequence, the engagement of faculty with students, the emphasis on service, and the beauty and history of the surrounding area. The intangibles of the student experience add a special dimension beyond academic development that shapes graduates who are intellectually curious and conduct themselves with integrity. The current community is made up of 16,034 undergraduate and 6,771 graduate students.

Bicentennial Celebration and Third Century Campaign

The University is in the midst of honoring its unique history among higher education institutions with a Bicentennial Celebration that commenced on October 6, 2017, with the two hundredth anniversary of the laying of the cornerstone of Pavilion VII, and will extend to the two hundredth anniversary of Jefferson’s death on July 4, 2026. This celebration will launch a multibillion dollar Third Century Capital Campaign to augment financial resources and provide the University the unique opportunity to define its ambitions for the third century and to engage extensively with the remarkably devoted alumni base of loyal .

Charlottesville

Located in Central Virginia just east of the Blue Ridge Mountains, Charlottesville offers stunning beauty, extraordinary culture and an inexhaustible list of things to do. From world-class restaurants to cultural events like the Virginia Film Festival and Festival of the Book, to hiking and kayaking along the scenic Rivanna River, variety of music venues including and the Charlottesville Pavilion, Charlottesville offers a quality of life, community feel and natural beauty. It also boasts a vibrant and rapidly growing entrepreneurship and innovation ecosystem. A wonderful place to raise a family, Charlottesville and Albemarle County have schools that are consistently ranked top in Virginia and the nation. The University of Virginia Search for an EVP COO

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The town boasts an incredible sports scene provided by the University. In recent years, UVA has won national or ACC titles in men’s basketball, soccer, baseball, tennis, lacrosse, rowing and track and field. The University has top ranked teams in almost all Division I sports.

Just outside the city limits, Albemarle County offers a 726 square-mile area of land that is home to an unusually rich variety of cultural, natural and historic attractions. Most notable among these is Monticello, the famous home designed by Thomas Jefferson, where he spent many years of his life living, working and writing. The county also hosts Highland, home of President James Monroe. And in nearby Orange, VA, Montpelier offers a glimpse into the life and work of President James Madison.

Charlottesville is easily accessible with multiple daily Amtrak service to Washington DC, and enjoys its own convenient airport. The Richmond International Airport and Washington DC Dulles International Airport are about 60 and 90 miles away. This juxtaposition of a bustling city and rural life creates a rich diversity in Charlottesville and Albemarle County. The Charlottesville MSA has a population of about 225,000 people.

UNIVERSITY LEADERSHIP AND GOVERNANCE

The President-Elect

The University of Virginia Board of Visitors on Sept. 15, 2017, selected James E. Ryan as the University’s next president. A widely respected and accomplished educator and legal scholar, Ryan earned his law degree from UVA and previously served on the School of Law faculty. Since 2013, he has served as dean of the Harvard Graduate School of Education and the Charles William Eliot Professor of Education. Ryan earned his bachelor’s degree in American Studies summa cum laude from Yale University in 1988. In 1998, Ryan joined the School of Law faculty after finishing a fellowship and clerking for United States Chief Justice William H. Rehnquist. During his time at the Law School, Ryan served as the Matheson and Morgenthau Distinguished Professor of Law and as the academic associate dean. In 2009, he founded the Program in Law and Public Service, which gives law students training and mentoring for public service careers. Ryan’s career has been distinguished by service-oriented assignments and volunteerism. The U.S. Secretary of Education appointed him in 2011 to the Department of Education Equity and Excellence Commission. At Harvard, Ryan has continued to explore the connection between law and educational opportunity, and with his colleagues has focused on ways to expand educational opportunities and improve student outcomes.

President-Elect Ryan is in the process of adding to the exceptional leadership currently on Grounds, and a search for the Provost is running concurrently with the COO recruitment. This is a tremendous opportunity to work with the President-Elect and his growing team to shape the special role of public institutions of higher education in this nation. Ryan’s vision is that UVA The University of Virginia Search for an EVP COO

Page 6 will articulate this special role by promoting very high quality education and student experience, by advancing discovery and research, and by serving the community, state, and nation.

President’s Cabinet and Executive Vice Presidents

The President’s Cabinet meets regularly to advise the President and fellow cabinet members on any subjects relating to the duties of her or his department or organization. The Executive Vice Presidents meet as an Executive Cabinet to give senior supporting leadership to the President. The EVP Provost will be second in rank to the President, serving as Chief Academic Officer and leader of the annual budgeting processes. The Provost will preside over meetings, attend events as the University’s representative, and act in place of the President as necessary. The EVP Health Affairs will administer the large and growing health system of the University of Virginia. The EVP Chief Operating Officer will provide administrative leadership and operational oversight on behalf of the President, Provost, and EVP Health Affairs.

Board of Visitors

The Board of Visitors is the University’s chief governing body. The Rector and Visitors serve as the corporate board for the University of Virginia, and are responsible for the long-term planning of the University. The Board approves the policies and budget for the University, and is entrusted with the preservation of the University's many traditions, including the Honor System. The Board of Visitors is composed of seventeen voting members appointed by the Governor of the Commonwealth of Virginia, subject to confirmation by the General Assembly, for terms of four years. In addition, the Board of Visitors appoints, for a one-year term, a full-time student and faculty member at the University of Virginia as non-voting members of the Board of Visitors.

Frank M. “Rusty” Conner III is the Rector of the Board and served as co-chair of the Special Committee on the Nomination of a President in 2017 that led to the appointment of James Ryan. Rusty is currently a partner with the global legal services firm of Covington & Burling LLP in Washington, D.C. He holds a BA in Economics and a JD from the University of Virginia.

THE ROLE

The EVP COO will join the University at time of enormous change and opportunity. As a member of the senior leadership of the institution, she or he will facilitate, support, and advise the President, Provost, Deans, Vice Presidents, and Board of Visitors, stewarding UVA's financial, capital, and operational resources in support of the University's mission and goals. As a member of the senior leadership team, the EVP COO will serve as a vital enabler of initiatives, responder to opportunities and challenges, and leader of the large operational activities of the University. In addition to careful stewardship of expenses through financial management, the EVP COO will oversee important sources of funding for the University through Treasury operations, coordination with the University of Virginia Investment Management Company (UVIMCO) and affiliated foundations of the University, relations with the state legislature, and revenues from ancillary operations.

The University of Virginia Search for an EVP COO

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Contributing to the transformation of UVA’s leadership team. Three of the top four leaders of the University will transition into their roles over the next year. Thus, the senior leadership team will need to establish itself with alignment around mission, vision, values, goals, and norms for mutual administration. The incoming COO will need to gain the trust and respect of the University's senior leadership team, Board, faculty, and staff, being respectful of the past while forging new paths. The leadership transformation will include an assessment and realignment of key processes, structures, and cultural norms, as well as an evaluation and redeployment of the human and financial assets. The successful candidate will have the practical, emotional, and social skills to collaborate in the leadership of an organization through a major leadership transition.

Stewardship of resources. In a climate where fiscal constraints will continue to exist, the COO will work with the Provost, the EVP for Health Affairs, and the Board to create a sustainable business model that will enable the University to continue to innovate and compete successfully for the best academic talent at all levels. Where the Provost is charged with budgeting, allocation of resources, the EVP COO will enable the provision of those resources from various sources. The COO will also develop sophisticated financial and performance management tools to enable better decision making and planning and resolve major business issues that impact the University's performance, including state funding, investments in academic programming, deferred maintenance, changes in the delivery and reimbursement of health care, financial aid, benefits, etc. The COO will likewise aim to protect the University’s coveted AAA bond rating.

Operational Leadership. This senior leader oversees all operations within the organization and its two primary locations in Charlottesville and Wise, Virginia. The COO will focus on efficiency, effectiveness, and continuous improvement of operational processes; think creatively and strategically to develop and improve operational systems, including systems that are already performing well; ensure that environmental sustainability is a key priority that is fully considered and incorporated in the institution's operating and capital decision-making; and engage with key constituent groups, e.g. the city and the county, to collaborate and coordinate.

Risk Management. Oversight of various risk exposures of the University will be a vitally important aspect of the COO’s operational leadership. Such exposures include physical safety, cybersecurity, compliance with laws and regulations (particularly Title IX), compliance with NCAA regulations and other athletic requirements, compliance with occupancy and fire codes, variations in revenues, fraud and embezzlement, as well as risks attendant to the ordinary management of the University’s endowments. Assurance of quality care in the health system will be the primary obligation of the EVP Health Affairs, supported by the COO. And the COO will report on risk exposures and remedies to the President and other leaders, the Board of Visitors, government agencies, the bond ratings agencies, and the community.

Relationship Building. As an executive leader within the University, it is imperative that the COO be a trusted advisor with academic leaders, the Board, colleagues, and staff. Investing the time to be a presence on Grounds, the COO will interact effectively with people at all levels in the organization and actively engage in mentorship and the development of financial and operational talent. It is also critical the COO develop strong relationships externally with stakeholders in the The University of Virginia Search for an EVP COO

Page 8 community and state agencies. The COO will serve as the University’s primary point of contact with the City of Charlottesville and Albemarle County on matters of mutual interest and impact, including capital projects, transportation, safety and security, and community relations.

PROFESSIONAL AND PERSONAL QUALIFICATIONS

The ideal candidate will be an excellent leader and manager with notable executive experience in an academic setting. The candidate will have had positive, sustained impact in complex environments where collaboration, influence management, and change management were critical to success. Ideally, this person will have extensive knowledge of and experience in the academic environment, in financial management and possibly including academic medicine. In addition, this candidate will have a track record that includes:

• Working effectively as part of a senior leadership team characterized by trust, open communication, and shared goals;

• Optimizing enterprise performance on multiple dimensions including mission, values, and finances;

• Promote value-driven resource stewardship, operational oversight, risk management, and decision support analytics and systems to support these activities;

• Exposure to academic medicine and the economic and risk dynamics associated with both clinical and research activities in those environments;

• Recruiting, motivating, developing, and retaining a high-performance workforce;

• Building diversity and instilling values related to equity and inclusion;

• Setting the tone at the top for institutional integrity, transparency, and openness;

• Building a service culture;

• Working successfully with multiple constituencies and within layered governance structures; and

• Developing effective communication processes and building relationships at all levels of an organization.

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TO APPLY

The University of Virginia has retained Isaacson, Miller, a national executive search firm, to assist in this search. Confidential inquiries, nominations, referrals, and resumes with cover letters should be sent in confidence to:

Ponneh Varho, Vice President and Managing Partner Katherine Stellato, Associate Anna Graulich, Associate www.imsearch.com/6584

To speak confidentially to a consultant call Isaacson Miller at 202-682-1504

The University of Virginia is an Equal Opportunity/ Affirmative Action Employer strongly committed to diversity.