The UC Investments and UCOP Information Technology Services (ITS) team won Silver in the IT Security category at the 2024 UC Tech Awards. This recognition honors their dedicated partnership to protect the University of California’s $170 billion investment portfolio with a customized cybersecurity program that aligns with industry standards for global financial institutions while adapting to the unique needs of a university environment.
Summary
The UC Investments Office partnered with UCOP Information Technology Services (ITS) teams to address unique cybersecurity needs related to their management of UC’s $170 billion investment portfolio.
Narrative
UC Investments (Office of the Chief Investment Officer, or OCIO) manages approximately $170 B in total assets for the university system — retirement funds, endowments, and the cash that fuels the University of California campuses and furthers our mission every day of the year. The extraordinary fiscal responsibility of UC Investments merits a cybersecurity focus beyond that of a strictly higher education institution and geared more toward a global asset manager.
The threat of computer-based organized crime continues to grow, and bad actors count on sophisticated automation to rapidly attack victims in the financial community. The UC Investments team established a successful long-term partnership with the UCOP ITS staff in instituting cybersecurity improvements aimed at protecting the environment where multibillion-dollar transactions are managed.
Over the past two years new security technologies and processes were deployed into the UC Investments enclave on an accelerated timeline. This innovative collaboration has continued to strengthen and evolve over time. Today the UC Investments Office has improved cybersecurity risk visibility, stronger practical security controls, and an overall improved cybersecurity posture.
As cyber criminals have become more sophisticated, so too has the battle to stop them. That’s why UC Investments, which manages the University of California’s investments, and Technology Delivery Services, which provides university-wide tech support, have partnered to create a customized cybersecurity program that addresses the specific needs of a multi-billion dollar financial institution within a university setting. The UC Investments Security Program, the first-of-its kind at the university, showcases both the entrepreneurial spirit and operational excellence.
The collaboration began in 2021, driven by the surge in cybercrime during the COVID-19 pandemic. Recognizing the security challenges inherent in moving around billions of dollars online, UC Investments, the “customer,” worked with Technology Delivery Services to fortify its cybersecurity measures, including implementing modern security controls, strengthening contractual protections with suppliers, and enhancing cybersecurity training for the UC Investments team.
“My team’s priorities were clear,” said Molly Greek, UCOP’s chief information officer. “They were listening to customer requests and fulfilling them. The assets are better protected than when we started our journey three years ago. Thanks to the UC team and our consultant partners, we increased our cybersecurity posture more than we ever have.”
Said Jimmy Castro, UC Investments’ director of investment transaction services, “We want to accelerate innovation in the security space, and the UC Investments Security Program has been instrumental in making that happen. It is gratifying to have seen the amazing teamwork, pride in one another, and to know we have reached our goals.”
April Sather, UCOP’s chief information security officer, said the needs of the UC Investments team required a new approach to cybersecurity and customer service at the University of California. “Although UC Investments is a part of the university and the higher education system, its security needs are more specific to the financial services industry,” she said. “Similar to other institutions in the financial services industry, such as Blackstone and JP Morgan, UC Investments is in the ‘trust business.’ They invest funds in the hope of generating strong returns while also ensuring data security for customers. Data security is critical to UC Investments’ reputation.”
The comprehensive UC project team, led by UC Investments Chief Data and Operating Officer Arthur Guimarães and Molly Greek of Technology Delivery Services, included independent consultants, UC colleagues, and technology vendors representing a diverse range of expertise. Crucial to the project’s success was leadership support and dedicated resources. Technology Delivery Services understood that, while UC Investments had needs that fell outside current compliance protocols and budgets, its investment security priorities were critical. Similarly, the UC Investments team offered to finance the project, which also required recruiting additional personnel to successfully execute it.
Said Guimarães, “Not only was this project critical, it was enjoyable. We worked well together and appreciated each other’s perspectives and expertise. I give Molly Greek and Van Williams (systemwide chief information officer) a lot of credit. They have not shied away from the hard conversations and want us to do more.”
Flexibility was key to the project’s success. While the teams had different perspectives on the same issue, due in part to their different functions and areas of expertise, they realized they each had something to learn from one another.
Project Team
- Frank Basa — Information Technology Contractor, Project Manager — UC Office of the President
- Shirley Bittlingmeier — Executive Director, Client Services — UC Office of the President
- Jimmy Castro — Director, Investment Transaction Services — UC Investments
- Molly Greek — Chief Information Security Officer — UC Office of the President
- Arthur Guimaraes — Chief Data and Operating Officer and Co-head of Real Estate — UC Investments
- Eric Person — Director of Network, Hosting, and Cloud Services — UC Office of the President
- Kari Robertson — Chief Technology Officer, Infrastructure Services — UC Office of the President
- April Sather — Chief Information Security Officer — UC Office of the President — Staff
- Joshua Van Horn — Deputy Chief Information Security Officer — UC Office of the President
Primary Contact
Timothy Hanson
Sr. Information Security Manager
UCOP
