Work Location:Toronto, Ontario, Canada
Hours:37.5
Line of Business:TD Wealth
Pay Details:$110,000 - $150,000 CAD
This role is eligible for a discretionary variable compensation award that considers business and individual performance.
Job Description:TD Asset Management (TDAM), a member of TD Bank Financial Group, is a leading North American investment manager offering progressive investment solutions to both institutional and individual investors. For over two decades, the organization has established competitive market positions in active, quantitative, and passive portfolio management. As of December 31, 2025, TDAM and its affiliates manage over $508 billion in assets on behalf of pension, insurance, endowment/foundation, and corporate clients, as well as high-net worth clients and retail mutual funds.
In attaining this client commitment, TDAM has built one of Canada's largest and most respected investment management and research teams with more than 220 Portfolio Managers, Associate Portfolio Managers, Traders and Analysts.
We are seeking an Associate, High Yield Bonds, to join the High Yield Bond team at TD Asset Management. This position is tailored for an associate with credit and/or investment experience who will support portfolio managers across multiple sectors.
Responsibilities include, but are not limited to:
- Take end-to-end ownership of assigned credits, from initiating coverage and building model and investment thesis to presenting and defending recommendations, and continuously monitoring and updating view as fundamentals and markets evolve.
- Source, verify, and synthesize financial data and market developments into a clear investment view on each issuer.
- Lead the fundamental work on each issuer in sector coverage, including financial and credit history, management quality, competitive dynamics, and industry context, and form a defensible investment view.
- Conduct in-depth fundamental analysis on covered issuers, including financial and credit history, management quality, competitive dynamics, and industry context, and translate work into defensible investment view.
- Build and maintain financial models that project issuer performance and identify relative-value opportunities across credit markets.
- Prepare research reports with clear, actionable recommendations, and present and defend them to portfolio managers and the team.
- Manage relationships with sell-side contacts, rating agencies, third-party research, and management teams, using them to originate and track opportunities.
- Conduct economic, market, and industry research across relevant sectors and geographies.
- Demonstrate comfort using AI/LLM-based tools and create value-added workflows to enhance the research process.
- Analyze bond indentures and credit agreements across covered securities, understanding the structural and covenant conclusions that follow.
- Lead timely analysis of primary-market opportunities and deliver a clear investment view on each opportunity.
Job Requirements:- Bachelor's degree required.
- Progress toward the CFA designation preferred.
- Two to three years of experience analyzing high yield, investment grade, or other investment assets in a buy-side, sell-side, or rating agency environment preferred.
- Excellent verbal and written communication skills.
- Experience writing analytical reports.
- Strong accounting and finance background.
- Experience using Bloomberg and Microsoft Office.
- Experience with convertible bonds or equities is an asset.
**We can consider candidates with fewer years of experience for the Analyst level.**Our Total Rewards PackageOur 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 a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. 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.
Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.
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.
If you're passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.
We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.
Training & OnboardingWe 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 Your accessibility is important to us. Please let us know if you'd like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.
We look forward to hearing from you!
Language Requirement (Quebec only):Sans Objet
