The Division of Financial Services (DFS) is led by Associate Vice President and University Controller Karen Mahalo. Reporting to Executive Vice President and Chief Financial Officer, DFS provides central financial functions in support of the university’s academic mission.
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Karen Mahalo is an innovative, strategic, results-oriented leader with over 30 years of experience in accounting, reporting, auditing, and compliance. As the Associate Vice President and University Controller for Cornell University, she oversees core financial functions including general accounting, payroll, tax, purchasing, and contract management, along with sponsored financial services, financial information services, student health benefits, financial communications, and the university’s shared service center.
Before joining Cornell in April 2021, Karen spent over 15 years at the University of Rochester, where she held progressively responsible financial leadership roles, including Senior Associate Controller. She has led cross-functional teams to implement FASB accounting standards updates, drive business process improvements, and enhance financial systems.
Prior to her career in higher education, Karen’s experience spanned multiple industries, including health care, manufacturing (domestic and international), and public accounting. Her expertise includes internal controls, risk assessments, business process improvements, and systems implementation.
Karen holds a BS in Accounting from Rochester Institute of Technology and an MBA from the Simon Business School at the University of Rochester. She is a CPA, a member of the American Institute of Certified Public Accountants, and an active member of NACUBO's Accounting Principles Council. Karen’s breadth of experience and commitment to innovation make her a leader in advancing financial strategy and operational excellence in higher education.
