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.
Financial executive Rao Chalasani most recently served as chief technology officer and risk strategy director with Bank of America-Merrill Lynch in New York City, NY. During his time with the firm, Rao Chalasani invented a US patent pending “Enterprise Risk Management System.”
A strategic business discipline designed to evaluate and manage firmwide risk, enterprise risk management (ERM) also looks at the combined impact of risk in an aggregated risk portfolio.
Unlike more traditional approaches to risk management, ERM looks at the totality of risk rather than individual “silos” of seemingly unrelated risk. As a result, ERM involves all aspects of organizational risk, from compliance and governance to financial and reputational risk.
In practice, ERM collects risk information from internal and external environments, using it to develop structured risk management processes. Because many business leaders see ERM as a way to gain a competitive advantage, risk management often plays a central role in key decisions at all levels of the business organization.
New Jersey resident Rao Chalasani has been working in financial risk management since 1994. During his time at the Bank of America-Merrill Lynch in New York, NY, Rao Chalasani invented the US patent-pending Enterprise Risk Management System.
This system can be used by many different kinds of organizations. Unlike other forms of risk management, the Enterprise Risk Management System is implemented to assess risk across several areas of exposure, including financial, reporting, governance, operational, and strategic risk.
With the help of computer technology and extensive databases, organizations can view risks as interrelated rather than in separate categories and view them in regard to both short-term and long-term risk. Through this global understanding of risk, the framework can help an organization work at their most productive capacity.
Enterprise Risk Management System is currently in use at financial organizations all over the world, including the global Fortune 500 company Azco Nobel in the the Netherlands; Panasonic in Japan, which is one of the world’s largest manufacturers of electronics; and Harrah’s Entertainment in the US, the world’s largest branded casino entertainment provider.
Skilled technology executive Rao Chalasani of New Jersey has applied his skills in roles at various New York City-based financial institutions, including Bank of America (BofA), JPMorgan Chase, and Deutsche Bank. A strong supporter of several charitable causes, Rao Chalasani dedicates his time and resources to such nonprofit organizations as UNICEF.
With schools reopening in Guinea, UNICEF and its partners are working in the country to reduce the risk of Ebola transmission among students and teachers. Prior to the reopening, UNICEF and partners assisted the ministries of education in developing important safety protocols to ensure that those with symptoms of Ebola are handled properly and referred to the nearest health clinic.
The organization also trained thousands of teachers to implement daily safety measures and to share risk-reduction methods with children, parents, and other community members. In addition, UNICEF distributed thermometers and hand-washing kits and is helping to deliver clean water to schools throughout the country.