TD Securities 110,000 - $135,000 CAD TD is committed to providing fair and equitable compensation opportunities to all colleagues. 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.

Equity

Research provides institutional investors worldwide with independent, in-depth analysis of publicly traded companies across sectors and geographies. Our team produces differentiated financial models, valuation analysis, and published research that informs investment decisions.

Financial

Analysis and Modelling Prepare comparable‑company analysis, peer benchmarking, and through‑the‑cycle valuation work using methodologies such as EV/EBITDA, mid‑cycle earnings, discounted cash flow, and replacement cost, where applicable. Analyze company capital allocation, balance sheet capacity, free cash flow, dividends, share repurchases, acquisitions, and major capital projects. Ensure models, databases, charts, and published figures are accurate, current, and internally consistent.

Company and Industry Research Monitor weekly and monthly industry data and translate it into concise, decision‑useful updates for the Senior Analyst and Senior Associate. S. housing, repair and remodel activity, building materials demand, fibre availability, transportation costs, and other relevant macroeconomic and industry indicators. Monitor softwood lumber duties, tariffs, trade policy, and regulatory developments and assess their potential impact on companies under coverage.

Review company filings, MD&A;, investor presentations, earnings call transcripts, and other disclosures closely, identifying material changes, inconsistencies, risks, and emerging themes. Maintain company and industry databases and help identify trends, catalysts, and differentiated research ideas.

Research

Publications and Investment Insights Contribute to earnings previews and reviews, company updates, industry notes, thematic research, and initiation reports. Prepare the underlying analysis, exhibits, valuation support, and written commentary for research publications. Assist in generating and testing differentiated research ideas, including scenario analysis and sensitivity work.

Over time, assume responsibility for first drafts of research notes and selected recurring publications. Work within established research, supervisory, disclosure, and compliance requirements throughout the research publication process.



Participate in company earnings calls, investor days, conferences, site visits, and other relevant industry events.

Support rapid and accurate communication of material developments to the Senior Analyst, Senior Associate, institutional Sales, and clients. Prepare presentation materials, company summaries, industry data, and talking points for client meetings, non‑deal roadshows, conferences, and other marketing activities. Respond to questions from institutional clients and Sales, initially with guidance from the Senior Analyst and Senior Associate and with increasing independence as sector knowledge develops.

Help communicate the team's investment views, earnings expectations, industry outlook, and valuation conclusions clearly and consistently. Build effective working relationships with institutional Sales, Trading, Corporate Access, and other internal partners. Maintain organized research files, data sources, calendars, and workflow trackers to support the team's coverage and publishing schedule.

Qualifications and Assets Undergraduate degree in business, finance, economics, accounting, engineering, forestry, or another relevant discipline. Progress toward the CFA or CPA designation is preferred but not required. Prior experience in equity research, investment banking, credit, corporate finance, accounting, consulting, or a related analytical role is an asset but not required.

Exposure to forest products, building materials, commodities, industrial businesses, or cyclical sectors is an asset. Strong financial statement analysis, accounting, valuation, and Excel modelling skills. Demonstrated attention to detail and a commitment to producing accurate, high‑quality work.

Strong analytical and problem‑solving skills, including the ability to identify the most important information within large volumes of data. Clear, concise writing and strong verbal communication skills. Comfort with and enthusiasm for leveraging approved AI tools in research workflows, including a working knowledge of effective prompting techniques, is considered a strong asset.





A genuine interest in public markets and cyclical, commodity‑driven businesses. #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. 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. S. equities business and highly‑diverse equity research franchise, while growing our strong, diversified investment bank.

Together, we are reimagining what banking can be for our clients, colleagues and communities.

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 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. 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.

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.

Here at TD, we hire and develop the best. Training & Onboarding We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your current role. We do our best to communicate outcomes to all applicants by email or phone call.

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.

Language

Requirement (Quebec only)

📌 Equity Research Associate, Paper & Forest Products (Toronto)
🏢 Cari
📍 Toronto