The Sankara Eye Foundation's Work in India
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Rao Chalasani is an inventor and financial services executive who supports the work of the Sankara Eye Foundation in India. The Sankara Eye Foundation is the US fundraising arm of a network of nine eye hospitals in India that work to prevent blindness through free eye exams and surgeries. In 2011, the hospitals performed over 140,000 free eye surgeries, and the foundation's goal is to provide perfect vision to all of India by 2020.
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University of Phoenix Material
Regulatory Agency
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Complete the chart.
Agency that regulates the health care industry
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Describe one example of the agency carrying out its duties (45 to 90 words).
Explain what regulatory authority the agency has in relation to health care (45 to 90 words).
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W11212
ARAVIND EYE CARE SYSTEM: PROVIDING TOTAL EYE CARE TO
THE RURAL POPULATION
Sanal Kumar Velayudhan, Meenakshi Sundaram R. and Thulasiraj R. D. wrote this case solely to provide material for class
discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may
have disguised certain names and other identifying information to protect confidentiality.
Richard Ivey School of Business Foundation prohibits any form of reproduction, storage or transmission without its written
permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies
or request permission to reproduce materials, contact Ivey Publishing, Richard Ivey School of Business Foundation, The University
of Western Ontario, London, Ontario, Canada, N6A 3K7; phone (519) 661-3208; fax (519) 661-3882; e-mail [email protected]
Copyright © 2011, Richard Ivey School of Business Foundation Version: 2011-09-29
In 2010, Aravind Eye Care System was the world’s largest provider of eye care services. Each day, it
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between four and five outreach camps that examined 1,500 patients and transported 300 patients for
surgery. The growth of Aravind Eye Care System was phenomenal but the mission set by its founder — of
eliminating needless blindness — was an enormous task. This task was now being expanded to provide
total eye care, in response to the available evidence on the widespread prevalence in India’s rural areas of
moderate visual impairment and other eye-related problems. The outreach eye camps reached only seven
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Three Traits Shared by Successful CTOs
A resident of New Jersey, Rao Chalasani has spent over 20 years working as a technology executive and risk management professional. Focused largely on the financial services industry, Rao Chalasani most recently served as the director of trading risk strategy for Bank of America-Merrill Lynch in New York, NY, in addition to being chief technology officer (CTO). Here are several traits shared by successful CTOs:
Strong Engineering Discipline
Great CTOs do not rely on other people for technical expertise, they have it themselves. This guides them when making technology-related decisions, since they have a firm understanding of a company’s framework. Without this practical knowledge, CTOs are more prone to making costly decisions.
Good Communication
The CTO is responsible for explaining technical concepts to people within the organization who lack a technical background. For this reason, they need superb communication skills that come from having a true understanding of the technology, as well as plenty of patience to convey complex topics in a way others can grasp.
Vision and Drive to Achieve Success
In addition to being technically savvy, CTOs must be forward-thinking and have a clear idea of where their businesses will be in the future. This helps them find existing technologies that improve their companies’ chances of success, in addition to giving them an idea of which technology developments to keep an eye out for.
UNICEF Launches “Nutrition Now” Campaign for Africa’s Sahel Region
UNICEF launched a "Nutrition Now" campaign in late 2020 to address the urgent nutrition needs of millions of vulnerable children in the Sahel region of West Africa and Central Africa who lack access to basic food and nutrition. An estimated 8.1 million children experienced wasting in early 2020, increasing to nearly 10 million by November, with around three million experiencing severe wasting. The campaign aims to help these children and accompanies $1.7 billion in pledged humanitarian aid from international donors to families across the Central Sahel region, which faces extreme violence and underfunded aid needs posing a twin threat.
UNICEF Assists Victims of Beirut Explosion
The inventor of a patented enterprise risk management system, Rao Chalasani helps implement systems for major New York City financial firms. A resident of Short Hills, New Jersey, Rao Chalasani is a regular contributor to the United Nations Children’s Fund (UNICEF), headquartered in NY.
The agency was founded in 1946 to relieve food and medical shortages after World War II. Recently, it began humanitarian aid to Beirut, Lebanon, the site of an August 2020 chemical plant explosion that killed more than 170 people. Additionally, UNICEF estimated that some 100,000 children lost their homes. The blast was believed to be accidental, but an investigation continues, bolstered by the arrival of a team from the Federal Bureau of Investigation.
Lebanon faces multiple crises such as COVID-19, economic disruption, and food shortages. UNICEF has responded by sending water bottles to aid workers and residents and distributing medications and household items to residents. The agency was also working with the World Health Organization to replace personal protective gear lost in the explosion. Concerned about the children’s future, UNICEF looked for educational facilities for the 55,000 children whose schools were destroyed.
To make a donation to the effort, go to www.unicefusa.org/ and designate your gift for the Lebanon Emergency. At the same site, you can contribute to the agency’s other ongoing efforts.
Amid Haiti Violence, Doctors Without Borders Opens Trauma Center
Doctors Without Borders opened a trauma center in Port-au-Prince, Haiti in November 2019 amid ongoing economic, political turmoil and violence in the country. The facility focuses on treating major traumas like fractures and gunshot wounds consistent with the unrest. Tensions had been rising since September 2019, prompting Doctors Without Borders to open the facility and quickly expand its 25 bed capacity due to high patient numbers.
Sakhi for South Asian Women - Shifting Dialogue on Domestic Violence
Based in New Jersey, Rao Chalasani has provided coordinated technology solutions that meet the needs of financial institutions in New York, NY, and beyond. Community focused, Rao Chalasani partnered with Sakhi for South Asian Women in launching the education-focused Swarna Chalasani Economic Empowerment Fund, in memory of his late sister.
Committed to ending violence against women, Sakhi was established in the late 1980s by five women who came from diverse cultural and business backgrounds to enable change. The organization has a twofold mission of mobilizing people in communities in condemning violence against women, and in providing support for domestic abuse survivors.
A core accomplishment of Sakhi, which means “women’s friend,” has been in bringing about constructive dialogue on issues that had previously not been publicly discussed surrounding gender and ethnicity. This activity has led to a shift from viewing abuse as a family problem to be handled privately to seeing it as a social issue that involves the community. Sakhi’s advocacy work has helped create a safe and empowered space that addresses the roots of the power imbalance that many women face in their daily lives.
Reducing Domestic Violence through Financial Autonomy
A finance executive affiliated with many of New York City’s most prestigious firms, New Jersey resident Rao Chalasani has an extensive history of supporting internationally focused nonprofits. Rao Chalasani collaborated closely with the NY-based organization Sakhi for South Asian Women when he was establishing the Swarna Chalasani Economic Empowerment Fund, named for his sister, in 2003.
The Swarna Chalasani Economic Empowerment Fund awards money to survivors of domestic violence to fund educational and vocational opportunities that place recipients on a path to economic empowerment.
When a woman has less economic power than her partner at an individual or societal level, her ability to become financially self-sufficient may be hindered. This dynamic can leave women dependent on their abusers for basics, such as housing and food, and make escaping the violent relationship difficult.
Domestic violence is often triggered by financial stressors. Increasing the ability of women to work can reduce the economic strain on the family and bring the household out of poverty. As a result, the number of violent incidents within the relationship may be reduced.
UNICEF Celebrates Super Dads
UNICEF celebrated fathers through its "Super Dads" program last June. Famous athletes and actors joined UNICEF to bring attention to the important role fathers play in childhood development by discussing how their own fathers supported them. UNICEF's Super Dads initiative was part of its broader #EarlyMomentsMatter campaign focused on educating parents about the impact of children's early environments on their ability to learn and develop. Families were invited to submit photos and videos of father-child interactions for sharing on UNICEF's social media and website as part of the Super Dads celebration.
The Benefit of Enterprise Risk Management Systems
A graduate of New York University Polytechnic Institute with a bachelor of science in engineering, Rao Chalasani of New Jersey has more than a decade of experience working with trading technology for multiple banks, including Deutsche Bank and Bank of America Merrill Lynch in New York, NY. At the latter bank, Rao Chalasani created a U.S. patent-pending enterprise risk management system.
Doctors Without Borders - Treating Colombian Sexual Violence Survivors
Experienced in investment technology, Rao Chalasani of New Jersey most recently served as director of trading risk management and business CTO for Bank of America Merrill Lynch in New York, NY. Outside of work, Rao Chalasani contributes to numerous charitable organizations, including Doctors Without Borders, which recently published an article on its efforts to serve survivors of sexual violence in Colombia.
Doctors Without Borders Praises Pfizer for Reducing PCV Cost
Doctors Without Borders recently praised Pfizer for reducing the cost of its pneumococcal conjugate vaccine (PCV) for children in emergency humanitarian situations. For the past seven years, Doctors Without Borders had lobbied Pfizer and GlaxoSmithKline to lower the price of this important vaccine for desperately needy children, and in September 2016 GlaxoSmithKline agreed to the request for humanitarian situations, followed by Pfizer's similar decision. The vaccine is critical because pneumonia is the leading cause of child mortality worldwide, killing approximately one million children each year.
Elements of an Effective Enterprise Risk Management System
An experienced technology executive and resident of New Jersey, Rao Chalasani most recently served as chief technology officer and risk strategist at Bank of America Merrill Lynch in New York, NY. In this role, Rao Chalasani was responsible for creating a new company-wide risk management platform.
Tradeweb’s Pioneering Component-Based Financial Trading Platform
With a professional background encompassing New York and New Jersey, Rao Chalasani most recently engaged with Bank of America-Merrill Lynch in NY as chief technology officer and risk strategist. Rao Chalasani’s experience with Merrill Lynch extended to the late 1990s, when he helped guide a number of strategic e-initiatives, including the implementation of the Tradeweb platform.
Swarna Chalasani Economic Empowerment Fund Aids Survivors of Abuse
Senior technology executive and former Bank of America chief technology officer Rao Chalasani is an experienced financial professor and the sole inventor of a patent-pending enterprise risk management system. In 2002, Rao Chalasani partnered with the organization Sakhi for South Asian Women to establish the Swarna Chalasani Economic Empowerment Fund in memory of his sister, who passed away during the tragic events of 9/11 in New York, NY.
UNICEF Kid Power Program Debuts in NYC and Other Select Cities
An engineering specialist with broad-based experience in the trading market, Rao Chalasani has held executive positions with leading financial services companies such as Bank of America (BofA)-Merrill Lynch and Deutsche Bank. A supporter of UNICEF, Rao Chalasani has also leveraged his professional success to aid youth in New York (NY) and New Jersey (NJ).
Doctors Without Borders Updates Ebola Response Strategy
During his 15-year career in New York, Rao Chalasani has acted as the chief technology officer for leading financial intuitions like Bank of America-Merrill Lynch and JP Morgan Chase. Currently residing in New Jersey, Rao Chalasani has balanced his professional endeavors with his support for a number of charitable organizations, such as Doctors Without Borders.
UNICEF Assists Families Affected by Conflict in Ukraine
Rao Chalasani is a former chief technology officer at Bank of America Merrill Lynch who dedicates time to organizations like UNICEF. UNICEF has been assisting children and families displaced by conflict in Ukraine by distributing water, health kits, hygiene supplies, and school materials. They also operate psycho-social outreach programs and train psychologists to counsel children and caregivers. UNICEF is developing 12 community centers to eventually serve over 30,000 people displaced in Ukraine.
Sakhi’s Economic Empowerment Program
Throughout his career, New Jersey-based technology executive Rao Chalasani has worked for several prominent financial institutions, including Bank of America (BofA), JPMorgan Chase, and Merrill Lynch. Outside of his professional activities, Rao Chalasani gives back to the community by supporting Sakhi for South Asian Women, a New York-based nonprofit that operates a variety of outreach programs focused on ending domestic violence in the South Asian community.
Doctors Without Borders Saves Its 1,000th Ebola Patient
Rao Chalasani, an executive from Bank of America, supports charities like Doctors Without Borders that provide emergency medical care wherever needs are greatest, including their efforts fighting the Ebola virus in West Africa. The story of Doctors Without Borders' 1000th Ebola patient describes how a health worker's entire family died from the virus except for his son, who recovered with the charity's help, walking out healthy to embrace his father. Though the struggle continues, Doctors Without Borders offers hope through treatment in affected areas.
Skahi for South Asian Women Provides Economic Security and Stability
Rao Chalasani, former CTO of Bank of America, established the Swarna Chalasani Economic Empowerment Fund in 2002 with Sakhi for South Asian Women in memory of his late sister. Sakhi for South Asian Women supports domestic abuse survivors, especially South Asian women, through various programs including economic empowerment assistance and education scholarships. The fund provides scholarships averaging $1,500 twice annually for higher education goals to help women achieve financial stability.
An Explanation of Enterprise Risk Management
Rao Chalasani invented and implemented an Enterprise Risk Management System as the CTO of Bank of America Merrill Lynch. Unlike other risk management systems, it creates a full risk portfolio that addresses all potential exposures and manages risks considering their correlations. The system integrates into daily operations to incorporate risk management into decision-making, which can strengthen an organization while securing confidence from investors and regulators.
More from Rao Chalasani (20)
UNICEF Launches “Nutrition Now” Campaign for Africa’s Sahel Region
UNICEF Launches “Nutrition Now” Campaign for Africa’s Sahel Region
Amid Haiti Violence, Doctors Without Borders Opens Trauma Center
Amid Haiti Violence, Doctors Without Borders Opens Trauma Center
Sakhi for South Asian Women - Shifting Dialogue on Domestic Violence
Sakhi for South Asian Women - Shifting Dialogue on Domestic Violence
Reducing Domestic Violence through Financial Autonomy
Reducing Domestic Violence through Financial Autonomy
Doctors Without Borders - Treating Colombian Sexual Violence Survivors
Doctors Without Borders - Treating Colombian Sexual Violence Survivors
Doctors Without Borders Praises Pfizer for Reducing PCV Cost
Doctors Without Borders Praises Pfizer for Reducing PCV Cost
Elements of an Effective Enterprise Risk Management System
Elements of an Effective Enterprise Risk Management System
Tradeweb’s Pioneering Component-Based Financial Trading Platform
Tradeweb’s Pioneering Component-Based Financial Trading Platform
Swarna Chalasani Economic Empowerment Fund Aids Survivors of Abuse
Swarna Chalasani Economic Empowerment Fund Aids Survivors of Abuse
UNICEF Kid Power Program Debuts in NYC and Other Select Cities
UNICEF Kid Power Program Debuts in NYC and Other Select Cities
Doctors Without Borders Updates Ebola Response Strategy
Doctors Without Borders Updates Ebola Response Strategy
UNICEF Assists Families Affected by Conflict in Ukraine
UNICEF Assists Families Affected by Conflict in Ukraine
Doctors Without Borders Saves Its 1,000th Ebola Patient
Doctors Without Borders Saves Its 1,000th Ebola Patient
Skahi for South Asian Women Provides Economic Security and Stability
Skahi for South Asian Women Provides Economic Security and Stability
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- 1. The Sankara Eye Foundation's Work in India Rao Chalasani
- 2. The Sankara Eye Foundation's Work in India Rao Chalasani, who has nearly 20 years of experience in financial services technologies, is the inventor of a patent-pending solution known as the Enterprise Risk Management System. A resident of Livingston, NJ, he has held leadership roles at Bank of America (BofA) Merrill Lynch, Deutsche Bank, and JP Morgan Chase, all in New York, NY. Rao Chalasani’s charity work in New York and New Jersey includes active support of the Sankara Eye Foundation.
- 3. The Sankara Eye Foundation's Work in India The Sankara Eye Foundation (SEF) is the United States-based fundraising arm of a network of nine eye-care hospitals in India, with a tenth hospital planned for completion in 2014. Funds raised by the SEF go to support efforts to prevent curable blindness, provide eye examinations, and perform eye surgery. Sankara Eye Foundation hospitals delivered some 140,000 free eye surgeries in 2011. He foundation’s stated goal is to achieve 20/20 vision for all of the people of India by the year 2020.