2026 Global Markets - Summer Analyst Program - Municipal Products Group

Summer Analyst, Municipal Products Group

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 :

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.

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.

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 :

TD Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, status as a protected veteran or any other characteristic protected under applicable federal, state, or local law.

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