2025 Summer Analyst – Municipal Products Group (Global Markets)

At TD Securities, you will learn the capital markets business and gain a competitive advantage of your own. You will be exposed to a wide variety of clients, industries, financing structures, and products. You will also work in a team environment, honing the skills necessary to be successful in the financial services industry.

Summer Analysts will work with seasoned Public Finance bankers and Municipal Sales & Trading professionals and will acquire the knowledge and skills necessary to become a Full Time Analyst in the municipal finance space. Summer Analysts will be part of the broader Global Markets business allowing for cross-functional experience and interaction with market participants, including our issuer clients.

In this capacity you will:
• Provide analytical, research, and transactional support to the Public Finance team, while assisting in the preparation of cash flow modeling and other financial analysis in connection with potential or live capital markets financings. You will also assist bankers in the preparation of proposals and pitch books for prospective and current clients detailing firm capabilities and financing solutions.
• Gain exposure to the sales and trading of municipal securities and new issue underwriting. Learn how to price municipal bonds and how to hedge and manage risk. Develop an understanding of the various market participants (dealers, customers, brokers, etc.) and how to effectively communicate and engage with them.
• Work closely with Public Finance bankers and Municipal Sales & Trading professionals to ensure that each proposed or live transaction receives the appropriate underwriting approvals and execution under TD Securities’ approved procedures and all related documentation as required to meet or exceed regulatory standards.
• Work with issuer clients to help them achieve sustainable finance goals, including financing various designated “Green” and/or “Social” capital projects.
• Have the ability to take ownership on assigned tasks and projects, managing assignments through successful completion.
• Develop and promote a business model which focuses on strong partnering with executive management of the firm and with relationship managers of TD Bank N.A. to enhance TD Securities’ profile and market share of Municipal Products business across the U.S.
• Stay fully informed on market data and trends, economic information, and key industry developments as well as regulatory standards. You will also learn to develop and maintain relationships with market participants including lawyers, financial advisors and issuing clients.

Making Your Well-being a Priority
A caring and supportive culture that promotes colleague well-being is core to who we are. At TD, we focus on total well-being with extensive programs to help colleagues assess, manage, and improve their well-being across four core pillars — physical, financial, social and mental/emotional. In addition, we champion a safe and inclusive work environment, so colleagues feel a sense of belonging and feel supported in their personal and professional growth. Through our focus on well-being, we know that we can help our colleagues thrive, contribute to our culture of care, and support better business outcomes, because when colleagues feel their best, they’re more likely to do their best.

Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

How We Work
At TD, we believe in-person connections fuel collaboration and collective creativity. Our workplace experience empowers colleagues to do great work side-by-side at TD locations, while offering flexibility to work remotely where it makes sense for the work and team. Our teams work in one of three workplace models: hybrid, onsite and primarily remote. Wherever our colleagues are working, they’ll always have access to the TD community to experience our culture of care.

Who We Are
TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we help clients meet their needs today and prepare for tomorrow. Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise, while growing our strong, diversified investment bank. We are growth-oriented, people-focused, and community-minded. As a team, we work to deliver value for our clients every day.