2026 Global Markets – Summer Analyst Program

Role Type:

Internship/Co-op

Work Term:

Summer/Term 3

Work Location:

New York, New York, United States of America

Hours:

40

Pay Details:

$30.00 - $45.00 USD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate’s skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. 

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

At TD Securities, the Municipal Products Group (comprised of Public Finance Banking and Municipal Sales & Trading) function within Global Markets is an integral part of the full suite of services we provide. The team covers all sectors within the municipal finance space such as state and local governments, infrastructure, power and utilities, higher education, housing, not-for-profit health care and transportation and assists clients in analyzing and issuing various offerings of municipal securities. Following training, this unique program provides summer analysts with two rotations spanning approximately 4 weeks each with the banking and sales and trading teams.

The Municipal Products Group team interacts frequently with other areas of the Bank, including: Debt Capital Markets, Credit Management, Market Risk Solutions, Sustainable Finance, Corporate and Investment Banking, and Global & US Fixed Income Sales and Trading.

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.

Qualifications

• Graduation date between December 2026 and June 2027 (undergraduate degree)

• You must be work authorized in the United States without the need for employer sponsorship

• All majors welcome, but significant coursework in a business-related field is required

• Strong financial/analytical skills, knowledge of MS Excel preferred

• Well-organized and detail oriented

• Ability to work under pressure with tight deadlines and establish priorities with minimal supervision

• Compelling interest in and knowledge of the financial markets, particularly in municipal finance

• Proactive and highly motivated

• Excellent verbal and written communication abilities

• Strong problem-solving and multi-tasking skills

• Successful candidates must have the capacity to become adept at financial modeling

• Able to work effectively in a team environment and independently

• Demonstrated leadership (i.e. sports, clubs, extracurricular activities and philanthropy, etc.)

Who We Are

TD is one of the world’s leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues.

TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you’ve got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we’re here to support you towards your goals. As an organization, we keep growing – and so will you.

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. Learn more

Additional Information:
We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development
If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD – and we’re committed to helping you identify opportunities that support your goals.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process
We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

If you are an applicant with a disability and need accommodations to complete the application process, email the TD Bank US Workplace Accommodations Program at [email protected]. Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.