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.
New Jersey-based Rao Chalasani is the sole inventor of the US patent-pending Enterprise Risk Management System. Rao Chalasani has served in senior technology executive roles in some of the world’s largest financial institutions, including Bank of America – Merrill Lynch, in New York, NY.
Bank of America – Merrill Lynch announced in early June 2016, the launch of its new Instinct® Loans electronic platform. The new portal enables electronic secondary trading of syndicated corporate loans. In contrast to the traditional voice-based, over-the-counter market approach, the platform will offer through electronic trading unified transactions, coupled with efficient pricing and transparent liquidity.
Through Instinct® Loans, the trading desk of Bank of America provides direct matching sessions allowing clients to offer or bid for loans against mid-market prices. The system facilitates immediate electronic trading of matching bids and offers under a fixed commission setup in which Bank of America, N.A., acts as principal.
The intent of the technology-based system is to improve Bank of America’s services to clients.
Based in the New York-New Jersey region, Rao Chalasani has held directorships with Merrill Lynch and Bank of America-Merrill Lynch. Before assuming these roles, Rao Chalasani served as vice president of global derivatives technology with Deutsche Bank, where he focused primarily on credit derivatives and IR derivatives.
A financial instrument involving the transfer of credit risk without changing ownership of the underlying entity, credit derivatives come in many different forms. Credit default swaps (CDS), which rank among the most common credit derivatives, allow a buyer to receive compensation from the seller in the event of a default. The value of a CDS depends on a number of factors, including the credit quality of both the writer and the underlying entity.
Total return swaps are similar to credit default swaps, except they also incorporate the economic exposure of the underlying asset. Credit spread options feature variable payoffs that depend on fluctuations in the credit spread, while asset swaps exchange a bond’s coupon for LIBOR cash flows and a spread.
Rao Chalasani, Livingston, New Jersey, resident, has served as the chief technology officer/risk strategist at Merrill Lynch, New York. Borrowing from his diverse background in technology and finance, Rao Chalasani has implemented innovative enterprise risk management strategies to foster company growth.
In the competitive financial services market, developing and implementing unique corporate strategies is essential to remaining relevant. While strategies are effectively developed in boardrooms, they often fail at the implementation stage for various reasons, one being staff reluctance or poor reception. This creates a gap between where the company is and where the company would like to go.
To help close this gap, corporate executives can use three tools at the strategy implementation phase. The first is clarifying strategy. If people don’t understand it, they won’t connect with it. Clarify the strategy so people can rally behind it.
The second is communication. Powerfully communicate strategy to all levels of the organization. Use numerous mediums such as internal blogs, message boards, podcasts, and even luncheons.
Finally, cascade the strategy. This means shifting from ‘what to do’ to ‘how to do it.’ Work the strategy into the practical components of peoples’ jobs. Managers will also help translate elements of strategy into peoples’ daily lives.
Rao Chalasani is a New Jersey resident with a range of professional experience in finance. For many years, Rao Chalasani has worked in various capacities for Merrill Lynch, the wealth management division of the Bank of America in New York, NY.
Merrill Lynch recently reported on the rise of women in the global economy. While there is still a wage gap, especially for women of color, the number of US women making six figures is rising more than three times faster than that of men.
In developing nations, women’s income is growing by 8.1 percent while men’s is growing by only 5.8 percent. The proportion of jobs held by women in the US rose from 37 percent in 1970 to 48 percent in 2007.
This could be good news for everyone, since without this growth, the US economy would likely be 25 percent smaller than it is right now. Boosting female employment rates to match that of men could mean a five percent boost to the US gross domestic product.
Nearly a billion women are likely to enter the global economy within the next ten years, and as more women enter the global marketplace, industries may adjust their focus on gender and change the way things are bought and sold. Even the structure of families may continue to change in coming years, for example with more dual income households, more women acting as breadwinners, and a higher percentage of single parents with financial independence.