Acting on the recommendation of University of California Board of Regents Chair Richard C. Blum, the regents today (Sept. 20) appointed Sheryl Vacca, a nationally recognized expert in corporate compliance and auditing, as UC’s senior vice president and chief compliance and audit officer, effective no later than Oct. 10, 2007.
The position is newly established as part of a restructuring of senior university leadership designed to strengthen management and administrative practices.
Since 2000, Vacca, 53, has been a director with Deloitte and Touche LLP, a global management consulting firm, and serves as a national leader in the firm’s internal audit practice area. Prior to Deloitte, Vacca served as vice president for internal audit/corporate compliance officer for Sutter Health system. While at Sutter, she built and then managed the healthcare system’s first enterprise-wide compliance program, which spanned 52 business units, while also being responsible for managing the system’s internal audit function. Prior to Sutter, Vacca held numerous senior administrator positions for healthcare organizations.
“We are very pleased to have Sheryl joining UC,” said Blum. “Her impressive record of building and managing successful compliance and audit programs for large, complex organizations makes her a great choice for this new and very important role.”
Reporting directly to the regents, the senior vice president and chief compliance and audit officer will be responsible for developing and overseeing the university’s corporate compliance and audit program. Functioning as an independent and objective office, this position will review and evaluate compliance and audit issues within the university, and will monitor and report to the board on itself, the administration, faculty, and employees regarding compliance with rules and regulations of regulatory agencies and university policies and procedures.
“I am honored by the confidence that has been entrusted in me, and I look forward to working closely with the regents, the administration, and the entire university community to enhance and develop best practices in compliance and audit that support and strengthen this incredible institution,” said Vacca.
Vacca is the recipient of numerous awards, including the Health Care Compliance Association Pinnacle Award for contributions to the compliance profession, and she is invited regularly to speak to national organizations on corporate compliance and audit. Her current board service includes the Health Care Compliance Association, Society of Corporate Compliance and Ethics Advisory Board Member and is a member of several compliance and audit related professional associations. She is also a member of several professional editorial boards, including the Corporate Compliance Officer, published by Opus Communications, and she has published several articles on compliance and auditing.
Vacca will receive an annual salary of $405,000, along with the following additional items per university policy:
-- Standard Pension and Health and Welfare benefits and standard Senior Management benefits, including Senior Manager Life Insurance, Executive Business Travel Insurance;
-- 5 percent monthly contribution to the Senior Management Supplemental Benefit Program;
-- An automobile allowance of $8,916 per annum;
-- Participation in the Mortgage Origination Loan Program (MOP), available to be exercised within a period not to exceed 24 months from date of employment;
-- Use of administrative funds for official entertainment and other purposes permitted by university policy.
Vacca will also receive as exceptions to policy:
-- Reimbursement of actual reasonable costs associated with temporary accommodations over a period of six months to assist with the transition of Ms. Vacca from her current location to Oakland;
-- Reimbursement of up to three round-trip, coach-class airfares plus reasonable accommodation expenses between the San Francisco Bay Area and Orange County in preparation for her assuming office, to be used before October 10, 2007;
-- Reimbursement of round-trip, coach-class airfares up to a maximum of $6,000 between the San Francisco Bay Area and Orange County during Ms. Vacca's first 12 months of employment if needed to complete the sale or other arrangements necessary to take care of her current home and family in Orange County.
Vacca was selected after a national search process that included over 25 prospective candidates.
Vacca holds an undergraduate degree from Eastern Washington University and a master’s degree from Texas Woman’s University. She also holds a nursing degree and is a registered nurse.
She is married with four adult daughters.
About the University of California : The UC system includes 10 campuses, five medical centers and programs across the state. It is also involved in managing three national laboratories for the U.S. Department of Energy. The UC community encompasses 209,000 students, 170,000 employees, 45,000 retirees, and 1.4 million alumni living and working around the world. For more news and information about the University of California: www.universityofcalifornia.edu