TD IB Credit Management
I have an interview with the TD Ameritrade Investment Banking Credit Management team. Is this role essentially DCM? Could someone elaborate?
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it has credit management in the title……
It is not not DCM, in Canada at least it's the adjudication / portfolio management arm of the corporate banking team. So not quite front office but not exactly risk either.
What’s TD’s rep like in NYC since Cowen acquisition? What are peer banks?
I chatted with somebody on the team. It's underwriting and basically Corporate Banking. Think of them as the FSG of Corporate Banking, if that makes sense; they pull in DCM/LevFin as needed
Didn't. Just said I chatted with people in the group.
You’re doing credit management for the investment bank
Pretty self explanatory
I also have an interview for this position, I am assuming this will be more like a commercial banking role where you are issuing revolver and term loans but you are issuing for large institutions rather than middle-market-sized companies. I can also assume that there will be a lot of cross between commercial banking and investment banking responsibilities for this job.
Hit it on the head; the point of the team is to "keep top of mind" so when these big companies do want to do a major transaction, they're now gonna think of TD first.
My advice for the interview is to stress the importance of collaborative culture and just the culture of TD in general. Mention the Cowen acquisition, too.
The only people I networked with were in that group yet I'm interviewing for a coverage group instead so idk what happened lol.
I interviewed with that team and it felt like a joke. My interviewer was so unprepared and could not form a sentence to save his life, no exaggeration. He could not even explain to me what the team does, and no it is not IB
TD’s IB Credit team is basically the underwriting function of the investment bank. They are responsible for building credit models, leading DD sessions with clients, working on deal memos and negotiating terms so definitely a front office job (this role also requires FINRA licenses unlike a risk role) and wouldn’t say is corporate banking (which usually deals with cash management products, corporate credit cards, among other stuff). The role might not be the traditional investment banking industry or product group but is a hybrid of industry/coverage/underwriting groups in one.
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