UNICEF is a foundation that works to protect disadvantaged children, especially those living in severely impoverished areas throughout the world. UNICEF has recently been working to raise awareness of the food crisis currently occurring in South Sudan. Nearly 25 percent of the country’s population is in urgent need of food, with over 40,000 people in critical condition. Along with many other organizations, including FAO and WFP, UNICEF has been working to assist individuals and families in urgent need of food in South Sudan. UNICEF has contributed by treating over 165,000 children in the country for severe acute malnutrition so far this year, after treating over 144,000 children in 2015.
Rao Chalasani of Livingston, New Jersey is the sole inventor of the U.S. patent-pending “Enterprise Risk Management System” and former chief technology officer and risk strategist for Bank of America-Merrill Lynch of New York, NY. An avid supporter of charities that support poor and underprivileged children throughout the world, Rao Chalasani is a regular contributor to UNICEF.
UNICEF is a foundation that works to protect disadvantaged children, especially those living in severely impoverished areas throughout the world. UNICEF has recently been working to raise awareness of the food crisis currently occurring in South Sudan. Nearly 25 percent of the country’s population is in urgent need of food, with over 40,000 people in critical condition. Along with many other organizations, including FAO and WFP, UNICEF has been working to assist individuals and families in urgent need of food in South Sudan. UNICEF has contributed by treating over 165,000 children in the country for severe acute malnutrition so far this year, after treating over 144,000 children in 2015.
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A resident of New Jersey, Rao Chalasani most recently worked as chief technology officer and director of risk strategy for Bank of America (BofA) - Merrill Lynch in New York, NY. Upholding a commitment to charitable giving, Rao Chalasani regularly supports several nonprofit endeavors, including the United Nations International Children’s Emergency Fund (UNICEF).
Established more than 70 years ago by the United Nations, UNICEF began as a way to meet the needs of children in China and European countries. Noting that thousands of children die each day from preventable causes, the organization strives realize the goal of zero preventable deaths among children worldwide. It serves as a humanitarian international organization and operates in 192 countries. UNICEF has several branches within the United States, and the New York chapter of the U.S. Fund for UNICEF hosted its Drive for Zero Golf Classic on September 21, 2015, at the Manhattan Woods Golf Club in West Nyack. Now in its fourth year, the event featured a breakfast followed by a shotgun start with a shamble-ball format. Later that day, participants enjoyed an awards ceremony. In prior years, the event has raised more than $200,000 annually for UNICEF. Most recently working as chief technology officer and director of trading risk management for Bank of America (BofA) - Merrill Lynch Financial Services in New York, NY, Rao Chalasani lead the creation of a new firm-wide risk management platform. Dedicated to helping others, Rao Chalasani works with organizations such as the Sankara Eye Foundation (SEF).
A U.S.-based nonprofit organization with chapters in New York, New Jersey, Los Angeles, and Seattle, SEF works with SEF, India to provide eye care services to residents of India. It works with donors and individuals to raise funds to support its mission of eliminating curable blindness in India. Since its establishment in 2014, SEF has provided more than 1.25 million free eye surgeries. One of the events hosted by SEF to raise money and awareness of its cause was the SoCal Walk for Vision, which took place on August 29, 2015, at Woodley Park in Van Nuys, California. Those who participated in the 5K walk received a certificate upon completion of the event. A resident of New Jersey, Rao Chalasani served as a former chief technology officer, risk strategist, and global markets trading risk management for Bank of America (BofA) and Merrill Lynch in its New York (NY) office. In this position, he dealt with technology strategy and helped create a risk-management platform. Dedicated to helping others, Rao Chalasani supports charitable endeavors such as Doctors Without Borders.
Established in May 1968 by a group of young doctors who wanted to aid victims of wars and major disasters, the Médecins Sans Frontières (MSF) completed its first mission in the Nicaraguan capital of Managua after the 1972 earthquake. The organization is known internationally in English as Doctors Without Borders. In 1990, the American division of the organization formed, and it currently manages programs in Sudan, Chad, South Sudan, and Ethiopia. A December 2014 news relief provided by MSF states that since February of that year, the organization provided medical assistance to more than 300,000 South Sudanese refugees. These refugees fled their homes and sought freedom in Sudan’s White Nile state. In addition to providing medical care and nutritional assistance to these individuals, the MSF gives vaccines for polio and measles. Rao Chalasani of New Jersey has enjoyed an accomplished career of overseeing technology development and implementation within the New York financial industry. Over the years, he has served as a senior technology executive at Deutsche Bank AG, Merrill Lynch, and Bank of America-Merrill Lynch, among other organizations. Rao Chalasani served as a business chief technology officer and director of trading risk management for BofA-Merrill Lynch in NY. In this role, he managed creation and launch of a companywide enterprise risk management platform.
Enterprise risk management (ERM) is the business discipline devoted to evaluating an organization’s risk competency and planning and managing activities related to minimizing and controlling those risks. ERM focuses on limiting fallout from risk-related activities, improving corporate risk-related accountability, and increasing stakeholder confidence. ERM has been applied to many different industries. Within the financial services sector, the practice has become a pivotal activity, due largely to the finance sector’s relationship to global economies and industries. ERM differentiates from historical business risk management approaches in that it encompasses all components of an organization’s risk exposure (finances, operations, governance, reputation, etc.) and that it prioritizes and manages those exposures as an interrelated system rather than as independent problems. ERM recognizes that each individual risk can impact other components of the organization, as well as internal and external stakeholders. An ERM system upholds this holistic approach by establishing a structured process for addressing all risks and by instituting risk management within all crucial decision-making processes. Finally, ERM views the effective management of risk as a key to competitive advantage. As an experienced financial industry executive formerly of Bank of America (BofA) Merrill Lynch in New York, NY, Rao Chalasani understands the importance of adequate financial resources in establishing personal independence. To help economically disadvantaged women achieve this independence, Rao Chalasani established the Swarna Chalasani Economic Empowerment Fund in 2002.
The Swarna Chalasani Economic Empowerment Fund, which memorializes a young woman who lost her life in the attacks of September 11, 2001, strives to help women secure the resources they need to support themselves. Targeted particularly toward those who have survived domestic violence, the Fund distributes much-needed resources for vocational training. Survivors can apply for support twice per year; successful applicants receive an average award of $1,500. The Swarna Chalasani Economic Empowerment Fund operates through the Economic Empowerment Program of Sakhi for South Asian Women. The program began as an outgrowth of the organization's economic justice project in the mid-1990s. Since that time it has helped numerous women acquire professional certifications, educate themselves, and develop the skills they need for independent living. In addition to financial support via the Swarna Chalasani Fund, the program also offers workshops, training programs, and case management services to survivors of domestic violence. Rao Chalasani is a New Jersey-based business executive who most recently served as a director of trading risk management and a business CTO for Bank of America (BofA) in New York, NY. Before joining the team at BofA, he worked for three years in the Global Credit, Real Estate and Structured Products Division of Merrill Lynch. Outside of the professional environment, Rao Chalasani actively supports the numerous initiatives of Doctors Without Borders, including its recent efforts to combat the spread of the Ebola virus in West Africa.
Providing emergency medical aid in areas that have been ravaged by military conflict, natural disasters, and widespread disease, Doctors Without Borders (DWB) conducts humanitarian rescue missions all around the world. Since March of 2014, the organization has treated 470 patients in West Africa, 215 of them confirmed cases of Ebola. DWB is also active on the governmental and public relations front, lobbying for a “massive deployment of resources by regional governments and aid agencies.” DWB’s director of operations in West Africa, Dr. Bart Janssens, warns that the epidemic is currently raging out of control. As the epidemic spreads throughout Sierra Leone, Guinea, and Liberia, DWB resources have been stretched to the limit, leaving the charity unable to deploy medical teams to new outbreak sites. A senior technology executive, Rao Chalasani resides in the greater New York City area where he has gained a wealth of experience in the global markets trading side of the financial services industry. An innovative business leader previously employed with Bank of America-Merrill Lynch and inventor of the U.S. patent-pending Enterprise Risk Management System, Rao Chalasani has a personal commitment to the Swarna Chalasani Economic Empowerment Fund of Sakhi. This charitable organization, which supports South Asian women victimized by acts of domestic violence, was established in memory of his sister who died in Tower Two of the World Trade Center during the terrorist attacks of September 11, 2001.
Founded in 2002, the Swarna Chalasani Economic Empowerment Fund is part of Sakhi’s program to empower women, helping them to escape the binds of violence. The Swarna Fund provides scholarships to help women further their education and professional advancement. Its scholarship grants assist women who might otherwise have difficulty obtaining the funds needed to further their ability to obtain gainful employment. The fund's ultimate goal is to provide these victims of domestic violence with a path to financial security and a way out of their dangerous situations. In addition to paying for tuition, the Swarna Chalasani Economic Empowerment Fund's grants cover the cost of books and supplies, advanced certification charges, and in some instances childcare and transportation expenses. The Swarna Fund provides renewable support allowing victims to complete bachelor’s and even master’s degrees on their way to self-sufficiency. A business executive based in New York and New Jersey, Rao Chalasani has held
senior positions with corporations such as Merrill Lynch, JP Morgan Chase, and Bank of America. Rao Chalasani’s ongoing charitable commitments include a longstanding affiliation with the Sankara Eye Foundation, USA. With origins in India’s Sri Kanchi Kamakoti Medical Centre, the Sankara Eye Foundation (or SEF) was officially established in 1998 with a vision to eliminate curable blindness across India by the year 2020. Dubbing this initiative “Vision 20/20 by the year 2020,” the SEF began by performing 8,000 free eye surgeries the very year of its inception. Working in concert with its partner, Sankara Eye Care Institutions, the organization has been able to increase its outreach significantly over the years. In 2011, the Sankara Eye Foundation provided more than 140,000 eye operations for individuals throughout the country of India. The SEF currently accepts charitable contributions on an international level from its headquarters in Milpitas, California. The non-profit entity has won an InDiya Shine Award and a FICCI Healthcare Excellence Award and maintains a four-star rating from Charity Navigator. With the recent volatility in the economy, financial institutions’ stress testing has been frequently featured in the media. However, many people are unaware of, or confused about, what occurs in a stress test.
In general terms, a stress test is a tool to measure the stability of a financial institution by concocting and applying hypothetical situations and analyzing how the institution would fare. Typically, these hypothetical situations involve negative events or worst-case scenarios. The stress test will analyze the institution’s assets and liabilities at their true values to determine if the institution has sufficient financial wherewithal to survive the hypothetical economic event. Stress testing can be performed by a financial institution to gauge its ability to handle events that would negatively affect either the institution or the economy as a whole. However, governments can also order stress testing to help ensure large institutions will not collapse as a result of negative economic events. Thus, stress testing can be a valuable tool in managing risks to a financial institution as well as to entities in other sectors. Rao Chalasani is the former Director of Trading, Risk Management, and Business at Bank of America in New York, NY. In addition to his risk management work at BofA and other financial institutions, including JP Morgan Chase and Merrill Lynch, Mr. Chalasani, who now lives in New Jersey, is the inventor of an "Enterprise Risk Management System," on which a patent is pending. |
AuthorRao Chalasani holds more than 15 years of leadership experience in the financial industry. Archives
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