The Institute for Computer Simulation, Stochastic Modeling and Optimization (CoSSMO) was created in 2013 by an initiative that was strongly supported by CUNY Chancellor Matthew Goldstein (now Emeritus), and Hunter College's President Jennifer Raab and Provost Vita Rabinowitz.

CoSSMO maintains a portfolio of research projects dealing with computer simulation, stochastic modeling and optimization. The focus for the new Institute is on the breadth of applications of stochastic modeling and optimization that are a direct benefit to government and private industry.

CoSSMO's core members and Advisory Board will supervise the balance between the resulting pure research and applied problem solving. Applying research and methods to problems that are of importance in our society helps "make mathematics real" to many students, enhancing their fundamental learning.

The academic disciplines within its scope include: mathematics, computer science, statistics, applied mathematics, geography, business, economics and engineering.