A resident of Livingston, New Jersey, Rao Chalasani has held various executive roles in the technology field, including working at a number of major financial firms in New York, NY. A committed philanthropist, Rao Chalasani supports a number of relief and medical organizations, including Doctors Without Borders.
According to a May 2017 press release from Doctors Without Borders, the cholera epidemic in Yemen has become a full-blown humanitarian crisis. Over a period of several weeks this spring, those who reported infections increased by a substantial margin. The organization has responded by setting up treatment centers at the five major medical facilities that are still operating in the country. Most of the hospitals have shut down, however, because of ongoing fighting.
With casualties from the war continuing to mount, Doctors Without Borders says that existing hospital facilities are ill-equipped to handle the increased amount of cholera infections occurring in the country. The organization is calling upon other relief and humanitarian organizations to provide resources for more treatment centers to curb the epidemic and provide care to those who desperately need it.
A resident of New Jersey, Rao Chalasani has an extensive background as a financial services executive. While serving as vice president of global fixed income technology/e-commerce with Merrill Lynch in New York, NY, Rao Chalasani contributed to a number of e-initiatives, including the implementation of Tradeweb, an electronic platform for trading US Treasuries.
Since 1998, Tradeweb has been the main source for US Treasury bond trading. With more than 1,000 institutional clients, the platform offers more than 1 million daily price updates and facilitates 22-hour trading options. Its request-for-quote trading protocol has been adopted by derivatives and fixed-income markets.
In May 2017, Tradeweb was named Overall Swap Execution Facility of the Year and Compression/Compaction Service of the Year at GlobalCapital’s Americas Derivatives Awards for 2017. The firm earned the award in recognition of its platform and solutions that support e-trading of derivatives. Tradeweb supports a range of clients and delivers specific platforms to help them achieve their goals.
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.
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.
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.