Associate, High Yield - TD Asset Management

TD•Toronto, ON

6d•CA$110,000 - CA$150,000•Onsite

About The Position

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.

Requirements

Bachelor’s degree required.
Excellent verbal and written communication skills.
Experience writing analytical reports.
Strong accounting and finance background.
Experience using Bloomberg and Microsoft Office.

Nice To Haves

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.
Experience with convertible bonds or equities is an asset.

Responsibilities

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.