Council on Research Meeting Minutes
May 3, 2010
University Hall (UNH) 306
9:30 am – 11:30 am
Members present: Lance Bosart, James Castracane, Richard Cunningham, Kirsten
Davison, James Dias, Elizabeth Gaffney, Daniel Goodwin, David Lewis, Dale Morse,
Robert Nakamura, and Kevin Tyle.
Members absent: Berhane Araia, Bharat Avasarala, Brian Butcher, Hamilton Lankford,
Elaine Lasda-Bergman, and Eszter Szcalzer.
Also attending: George Berg, Peter Bloniarz, Adrienne Bonilla, Christine Chung, David
McCaffrey, Theresa Pardo, Theresa Walker, and Robert Webster
Call to Order
The meeting was called to order by Council Chair, James Castracane, at 9:35 am.
Approval of April 7, 2010 Minutes
Robert Nakamura motioned to approve the April meeting minutes; seconded by Kevin
Tyle. Vote: 9 Yes to approve the minutes and 2 abstentions
Vice President for Research Report by James A. Dias, Interim Vice President for
Research
FRAP B recommendations were submitted and accepted by Interim Vice President Dias.
After the final FRAP, and journal/conference awards, there is a surplus of funds that will
be reverted to the research infrastructure. Interim VP Dias asked Council to give some
thought as to how the surplus could specifically be used. One suggestion from Interim
VP Dias is to provide funding for professor emeriti who are still actively conducting
research. Robert Nakamura proposed referring this to the FRAP A Review Committee
for their review and recommendations.
Excellence in Research
The strategic plan discussions have included positioning our faculty for consideration for
national and international awards. The UAlbany Excellence in Research award could be
the first step toward reaching this goal. The next logical step would be the Chancellor’s
award, but external letters are required for the application process. The external reviews
are not currently required for consideration for the UAlbany Excellence in Research
Award, but perhaps should be if we want to use this pool of applicants for the
Chancellor’s award.
Page 2 – May 3 Meeting Minutes - Council on Research
Interim VP Dias asked the Excellence in Research Award Committee to review and make
recommendations regarding the following procedural concerns:
1) Create citations for the local excellence in research award recipients;
2) Make sure the procedures for local excellence in research awards are in line with
the Chancellor’s Award; and,
3) Evaluate the procedures for review of creative activities to make sure the arts and
humanities faculty are not excluded.
Since some of the issues raised by Interim VP Dias were addressed by the committee,
Dale Morse, chair of the Excellence in Research Committee, was asked to provide
written recommendations to the VP for Research. ACTION ITEM
Institute for Financial Market Regulation (IFMR)
David McCaffrey introduced others who are working collaboratively with the Institute:
George Berg, Department of Computer Science
Theresa Pardo, Center for Technology in Government
Christine Chung, Albany Law School
Peter Bloniarz, Dean, College of Computing and Information
The group was here to respond to additional questions raised at the April 7th Council on
Research meeting. The responses were sent earlier via e-mail; however, David
McCaffrey gave a brief summarization of the responses. Additionally, each
representative discussed his/her area of expertise and how it relates to the goals and
mission of the Institute.
David McCaffrey specifically referenced 1) Budget -- travel for building networks in the
field, support for student travel and research is included; and, 2) Advisory Council – the
Council is a valuable ally and includes a good mixture of representatives from law firms,
the regulatory community, and the business community. He noted that a representative
from TIAA-CREF and a federal judge have joined the Advisory Council.
Council Chair James Castracane opened the floor for questions.
Question: What is CPath and what impact will it have on the Institute?
Response: Theresa Pardo explained that the CPath Grant of $800K will fund
development of curricula and resources for undergraduate programs. She cited an
example where the grant provided funding to systematically survey the professional
community. She met with 25 representatives from all segments of the community,
including financial service and regulation service to discuss the kinds of challenges they
face when new recruits do not have the skills. The meeting resulted in an improved
research design based on feedback from the community.
Page 3 – May 3 Meeting Minutes - Council on Research
Pardo noted that there are two kinds of research: 1) case based learning (how to teach
students about computational thinking in the financial markets; and 2) to teach students
in computing about the application of computational thinking in different domains.
Question: How advanced is computational training of the computational experts?
Response: Attempts are being made to broaden the computational skills; students should
also understand what can be done with data. We need relevant data and cases to help
them develop skills to think algorithmatically.
Question: Do you get a sense that the same education will be provided for current
employees?
Response: Dean Bloniarz explained that one of the competitive edges that the Institute
has is to have Information Technology (IT) at the table as an active partner in contrast to
others who heavily emphasize policy and law. Pardo gave an example of the Center for
Technology in Government’s cross boundary information sharing extending theoretical
frames into financial market regulation which provides new opportunities for graduates
and faculty.
Question: You are describing a small part of a bigger problem – how do you develop an
understanding of quantitative arguments in making decisions?
Response: David McCaffrey stated that this is a University problem – we are trying to
regulate complex quantitative markets but are not able to do so.
Question: Do we need to teach quantitative thinking about this or demystify the market?
Response: Keep in mind that this is not just quantitative methods, it is also
interdisciplinary.
Question: Have you considered adding an ethics faculty?
Response: Christine Chung noted that students are required to take an ethics course as a
part of the law curriculum, so there is an ethical component.
Robert Nakamura commented that this seems to be the only center/institute where we are
trying to “fix” everything. We should have a more limited idea of what constitutes a
center/institute approval.
After the discussion, James Castracane deferred to Mengbing Huang, Chair of the
Committee on Centers/Institutes/Labs, for a recommendation. Huang motioned to
recommend granting permanent status for the IFMR. Seconded by Lance Bosart
Council vote: Unanimous approval of permanent status for the Institute for Financial
Market Regulations.
Page 4 – May 3 Meeting Minutes - Council on Research
Benevolent Committee by David Lewis
David Lewis reviewed the Committee’s recommendation to fund eight (8) out of 17
applicants for the Benevolent Award. The Council voted unanimously to approve the
Committee’s recommendations.
Researchers Liaison Committee
Council chair, James Castracane noted that there is one outstanding issue that needs to be
addressed by the Researchers Liaison Committee. Since neither co-chair was present at
the meeting, James Castracane proposed follow up with them later. ACTION ITEM
Old Business
None
New Business
Council Chair, James Castracane, encouraged interested members to complete the
University Senate form to sign up for next year’s service on Council on Research. Janice
will circulate the form to the membership. ACTION ITEM
Adjourn – Motion to adjourn Dale Morse; seconded by Robert Nakamura. Meeting
adjourned at 10:55 am
Submitted by Janice E. Bogan
