At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Description: This job is responsible for supporting analytical requests, reporting and analysis, and assisting with modeling activities to help manage risk and minimizing credit and operating losses. Key responsibilities include analyzing portfolio trends, developing data sets or queries to extract data, and supporting the production of internal and external reporting needs. Job expectations include effectively supporting information and insights which have significant regulatory impact, financial accountability, and direct impact to business policies and goals. Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist I within our Global Risk Analytics (GRA) function. Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation. The Global Markets Risk Analytics (GMRA) team under GRA is responsible for developing, maintaining, and monitoring Counterparty Credit Risk (CCR), the Internal Model Method (IMM), Central Clearing Counterparties (CCP), Value at Risk (VaR) and Asset Liability Management (ALM). GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. The role sits within the Prime Clearing Analytics and Data Services (PCADS) - Counterparty Credit Risk (CCR) Limits Monitoring and Exposure Explains team, responsible for investigating the root cause of counterparty credit risk limit exceptions, notifying relevant stakeholders of findings, and escalating unapproved limit breaches through a Governance Forum. Our key stakeholders are Sales / Trading, Enterprise Credit, Enterprise Credit Risk, Technology, Audit, and Regulatory, and Reporting teams. As a Risk Analysis Specialist, your responsibilities will involve: Perform in-depth daily analysis into the bank’s Counterparty Credit Risk (CCR) trading activity against credit limits or against restricted counterparties or with restricted products across all Lines of Business, on a global scale. Perform portfolio level exception analysis at the global and legal entity levels. Identify and explain key drivers of trading violations. Determine escalation of unapproved trades and raise to the relevant Credit Forums. Work directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions. Raise issues with upstream data providers where necessary – along with quantifying impact. Work with the wider CCR Lines of Business, Enterprise Credit and Project Tech teams to identify and quantify system and trading limitations resulting from violation investigations and analysis. Perform longer term trend analysis across CCR portfolios to identify and remediate systemic themes. Assist in the production of communication materials for senior management, governing committees and regulatory bodies.