Equity Research Associate - Industrial (Engineering and Construction)

TD•Toronto, ON

9d•CA$110,000 - CA$135,000•Onsite

About The Position

The Institutional Equities division of TD Securities provides equity sales, trading, research, underwriting and distribution from offices in Canada, the U.S. and the UK. As an Associate in Equity Research, you will have an opportunity to work directly with an equity analyst on the daily publication of company and industry research reports. This role is for an Equity Research Associate that will work alongside a senior analyst covering the Engineering & Construction (E&C) sector. The successful candidate will be a key contributor to the production of financial models, published research, and the day-to-day analytical work that supports our coverage.

Requirements

Ability to work independently under strict deadlines, with an attention to detail and output orientation
Ability to research a topic from the ground up
Strong work ethic, ability to take initiative and balance multiple tasks
Superior business writing skills, presentation skills and interpersonal skills
Excellent spreadsheet, quantitative and financial analysis skills
Demonstrated interest in capital markets – comfortable with finance theory
Service orientation and professional attitude – presentable to both internal and external clients
Flexibility and ability to invest long hours as needed/required by business due to the nature of the role
Minimum Undergrad degree in a relevant finance or industry field

Nice To Haves

Relevant experience in equity research and/or familiarity with the E&C or broader Industrials space
Professional designations (e.g., CFA, CPA, P.Eng.)

Responsibilities

Build, maintain, and enhance detailed financial models (income statement, balance sheet, cash flow, DCF/SOTP, and segment-level and project-backlog models) for E&C and Industrials companies.
Analyze sector-specific drivers including backlog and book-to-bill trends, project margins and execution risk, infrastructure spending cycles, and public/private funding dynamics.
Draft and contribute to initiation reports, earnings previews/reviews, sector notes, and thematic research.
Conduct company and peer analysis, valuation benchmarking, and competitive positioning assessments across the coverage universe.
Monitor company news flow, contract awards, regulatory developments, and macro indicators relevant to sector; prepare summaries and flag actionable insights to senior analyst.
Support the senior analyst during earnings season, investor marketing, non-deal roadshows, and industry conferences.
Engage with institutional sales and trading teams to communicate investment theses and respond to client inquiries.
Continuously develop sector expertise and progress toward greater analytical ownership and independent contributions over time.