Newswise — Ivan Samstein, Vice President and Chief Financial Officer for the University of Chicago, has been appointed Executive Vice President and Chief Financial Officer for the University of Chicago Medical Center (UCMC), effective June 30, 2021.
Samstein's experience in financial management spans a broad array of areas including healthcare, higher education, government finance, capital markets and supply chain. Before joining the University, he served as CFO for Cook County from 2012 to 2017, where he had oversight of eight departments and advised Cook County Board President Toni Preckwinkle on all fiscal-policy matters. Prior to that experience, Samstein was an investment banker covering municipal fixed-income markets in New York and Chicago at Bank of America Merrill Lynch and predecessor organizations and a municipal bond-rating analyst at Moody’s Investors Service.
Samstein earned a master’s degree from the University of Illinois at Urbana-Champaign and a bachelor’s from Hunter College, City University of New York. In addition, he is an Afghanistan veteran of the United States Army.
In his role as CFO for the University, Samstein worked closely with the University president, provost, Board of Trustees, deans and officers to ensure that the financial services, operations and strategy supported the academic mission and priorities of the organization. In addition to being responsible for all aspects of financial services, internal audit, and risk management at the University, he also oversaw the University’s information technology services, human resources and shared services.
"Ivan has worked collaboratively with us around important projects including the University of Chicago Health Plan; coordination of the annual budgets between the University of Chicago Medical Center, the Biological Sciences Division and the University; and interactions with outside organizations such as Cook County Health," said Kenneth S. Polonsky, MD, Dean and Executive Vice President for Medical Affairs. "He is well-qualified to lead our organization’s financial operations as we look to expand and be more integrated as a healthcare delivery system and manage any of the challenges ahead."
In his new role, Samstein will oversee the finances of UCMC including establishing and monitoring the annual budget, funding strategic growth, and assisting in the development of key partnerships and in the implementation of the Medical Center’s new financial system to ensure its compatibility with the University system. He will remain engaged on selected University projects, including development of the 53rd Street innovation district and the New Engineering and Science Building, and with the Office of Civic Engagement to enhance economic diversity strategies and support the South Side, among other initiatives.
"Ivan’s extensive expertise will be of great value as we negotiate the future success of the University of Chicago Medicine health system," Polonsky said.