2026 Global Markets - Summer Analyst Program - Municipal Products Group

Work Location:

New York, New York, United States of America

Hours:

40

Line of Business:

TD General

Pay Detail:

$44.53 - $44.53 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 bus