A resident of New Jersey, Rao Chalasani has specialized in trading technology at various New York, NY-based financial institutions, such as Deutsche Bank and Bank of America. Apart from his work, Rao Chalasani supports numerous charitable organizations, including UNICEF.
According to the most recent data from UNICEF and UNHCR, the UN Refugee Agency, the growing civil war in South Sudan has resulted in over 1 million children attempting to escape the violence as refugees, making them the majority of refugees to come from the country. Most of these children end up in surrounding countries such as Kenya, Ethiopia, and Uganda.
The problem only looks to get worse, as the children coming into these countries lack adequate lodging to protect them from the rainy period that occurs annually. UNICEF has called for more than $180 million to help build shelter facilities and provide other basic care needs to these children for the remainder of 2017, but the organization has only managed to raise a little over half of that goal, and the UNHCR’s request for $781.8 million is only 11 percent funded. As such, the organizations are urging other nations to continue providing relief funds to ensure that lifesaving services for South Sudanese refugees continue.
A graduate of New York University with a bachelor of science in engineering, Rao Chalasani of New Jersey most recently served as the director of trading risk management and business chief technology officer at Bank of America – Merrill Lynch in New York, NY. In this role, Rao Chalasani created a US patent-pending enterprise risk management system.
Enterprise risk management systems go beyond traditional risk assessment approaches by taking a comprehensive look at all risk areas, from finance and operations to compliance and governance. With a systems approach to risk management, an organization takes into account that risks in one area can spread to other areas.
By understanding the interrelation of risks across departments, an organization can mitigate the damage that otherwise could ripple through the company. In addition to hedging against potential damage, effective risk management systems allow organizations to take calculated risks and capitalize on growth opportunities through smarter utilization of both human and capital resources.
Rao Chalasani of Livingston, New Jersey, has served in numerous technology leadership positions, including that of chief technology officer of Bank of America Merrill Lynch in New York, NY. Outside of work, Rao Chalasani contributes to several charitable organizations, including Doctors Without Borders.
Doctors Without Borders is working to ensure that the people of Haiti have access to medical care following the devastation caused by Hurricane Matthew, which resulted in the displacement of an estimated 175,000 people. In addition to ensuring continued operation of its four facilities in Port-au-Prince, Doctors Without Borders is reaching out to those in remote villages to control the spread of diseases such as cholera, dengue, malaria, and pneumonia.
With Hurricane Matthew cutting off access to villages in Grande Anse and Sud, Doctors Without Borders personnel have had to reach some villages by helicopter. The most urgent needs in these areas are food, water, and shelter.
The most common ailments resulting from the hurricane are gastritis, infected wounds and fractures, and upper respiratory tract infections. Of particular concern are infected wounds, which can eventually lead to sepsis if not treated.
Having most recently served as the Chief Technology Officer and Risk Strategist for Merrill Lynch in New York, NY, Rao Chalasani has made a professional career in the field of Risk Management. As a resident of New Jersey, Rao Chalasani is involved in a number of charitable activities, including the United Nations Children’s Fund, more commonly known as UNICEF. As a supporter of UNICEF, he supports and promotes UNICEF events such as the UNICEF Ball.
The biennial event is held to bring celebrities and professionals from the Los Angeles area together to promote and raise funds for the UNICEF foundation and its programs. The UNICEF Ball is a black tie event that includes dinner and an entertainment program, having raised over $7 million since it began in 2005. The event includes a headline performer and awards are presented during the Ball, including the Danny Kaye Humanitarian Leadership Award and the Spirit of Compassion Award.
Based in New Jersey, Rao Chalasani has served in multiple high-level positions in New York that span the financial services and information technology realms. The former director of trading risk management and chief technology officer at Merrill Lynch Wealth Management in New York, NY, and sole inventor of the U.S.-patent-pending “Enterprise Risk Management System,” Rao Chalasani supports Sankara Eye Foundation (SEF) when not dispatching his professional obligations.
A charity and research organization working to combat the growing problem of blindness in India, SEF hosts events to raise the funds and support needed to help provide community eye care, including eye tests, glasses, and even surgeries, in India for those in need. Fundraising events usually consist of creating booths for major city events unrelated to the organization and working with sponsors. However, dandias are among SEF’s particularly popular, long-running events.
Dances featuring dance styles from across India that generally include dandia sticks, dandia events take place in multiple locations throughout the U.S. and typically sell out quickly. SEF keeps participants updated on the events and provides tutorials for those unfamiliar with dandias. To learn more, visit www.giftofvision.org.
An engineering graduate of Polytechnic Institute of New York University, Rao Chalasani most recently served as the director of trading risk management and the business CTO at Bank of America-Merrill Lynch. Currently based in Livingston, New Jersey, Rao Chalasani also has held the role of project manager of global derivatives technology at JP Morgan Chase, where he led the design and implementation of new vendor systems.
Effective project management starts with effective project planning. Many information technology project managers do not allocate enough time in project planning, opting to jump straight into the execution phase. This approach is partly responsible for high project-failure numbers. Time spent on planning the project leads to reduced implementation time and cost.
Project planning begins with defining the project. Start with an overview of the project, detailing what the project aims to achieve, why it is being implemented, and how it will benefit the organization. Clarify the scope of the project, such as the departments involved and how phase-to-phase transitions will be affected. Assign clearly defined roles to the implementing team, making sure there is a clear line of command and a response framework for complications that may arise. Estimate a timeframe and cost for the project implementation.
After defining the project, create a planning horizon. This is the work plan for the project. Estimate the work as far as possible, outlining the assumptions made and uncertainties prevalent. Once the project implementation starts, the planning horizon will be a reference point. Activities that were vaguely outlined can be reassessed and better defined when they come up.
Finally, outline the project management procedures, including best communication practices, risks involved, quality required, and management of obstacles. Only after such planning should implementation begin.
A senior technology executive and financial services professional with over two decades of experience, Rao Chalasani has worked for a number of New York firms. Rao Chalasani received an opportunity to kickstart his career shortly after finishing college through an offer by JP Morgan Chase to participate in their Chase Leadership Development Program.
Participants in the program become acquainted with the Chase business and its products and services, while receiving mentorship through a series of rotations that last between 10 weeks and 24 months, depending on full-time or summer position. Throughout the program, participants receive on-the-job experience and engage in a variety of meaningful company projects. Project participation will also enable to them to gain experience in identifying new business opportunities and enhancing frameworks for risk and control.
The Chase Leadership Development Program is offered to college students and graduates with a minimum grade-point average of 3.2 who demonstrate strong leadership, problem-solving, and project management skills. General qualifications also include a commitment towards learning and customer satisfaction. Additionally, applicants must meet the specific requirements of the track they plan to apply for, which includes either enrollment or completion with a corresponding bachelor-level degree program. The program offers three track areas: risk management, analytics, and marketing and product development.