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Elizabeth A. Milavec to be University EVP

August 1, 2022
Outdoor portrait of Elizabeth Milavec.Elizabeth A. Milavec (photo provided)

Milavec will be the University’s inaugural executive vice president for administration and finance and chief financial officer.

Following an extensive national search, Elizabeth A. Milavec, who has served as interim senior vice president for administration and finance, CFO, and treasurer at the University of Rochester since November 2021, has been selected as the University’s inaugural executive vice president for administration and finance and chief financial officer.

“We had a large pool of capable candidates from prestigious colleges and universities around the country,” says Doug Phillips, senior vice president and chief investment officer, who served as chair of the EVP search committee. “The search committee saw Liz as an accomplished financial executive and a strategic leader. She showed a deep understanding of the challenges and opportunities facing the University of Rochester. I couldn’t be more pleased with the results of this search, and I would like to thank the search committee members and the advisory groups for their commitment in helping to identify the best person for this important role.”

Milavec, a certified public accountant with an MBA from the Simon Business School, came to the University in 2016 as associate vice president for financial operations and controller. She previously worked at Carnegie Mellon University, where she was associate vice president for finance and controller for over a decade. She will be the first person to hold the executive vice president position, which was established after a study of the University’s administration and finance operations conducted by consultants from the National Association of College and University Business Officers (NACUBO). The elevation of the role to an executive VP level reflects the central importance of the University’s administrative and finance operations to the health and vitality of the organization.

As executive vice president, Milavec will oversee a broad portfolio that includes Facilities and Services, Environmental Health and Safety, Auxiliary Operations, Public Safety, Corporate Purchasing, Real Estate and Space Planning, Budgets and Planning, Controller, Accounts Payable, Financial Reporting and Analysis, Payroll, Sponsored Programs Accounting, Bursar, Internal Audit, and Treasury Management.

“I’m truly honored to have been selected for this role,” says Milavec. “As we emerge from the pandemic with a strong leadership team under President Mangelsdorf, we can capitalize on the University’s forward momentum and set a strategic course for success with a strong operational and financial foundation. I am looking forward to working together with colleagues across the campus to support the educational, research, and health care missions of the University of Rochester, and to promote the University’s Meliora values and the president’s ‘One University’ vision.”

“I have enjoyed working closely with Liz for the past nine months,” says President Sarah C. Mangelsdorf. “I’m delighted that our partnership will continue as we reinforce our financial position, coordinate and focus our operations, and advance the University’s strategic goals. She is the right person at the right time for the University of Rochester!”

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