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?
Trending Content
| +2,693 | Bank of America - Juniors Strike to start Monday May 6th | 298 | 5m | |
| +722 | BOFA ALREADY TRYING TO COVER UP THEIR TRACKS | 74 | 18m | |
| +467 | This is a dark day for Wall Street. | 30 | 2h | |
| +159 | Big Layoff at Barclays - 5/1/24 | 86 | 13h | |
| +126 | Analyst at Bofa FIG-Thoughts | 20 | 24m | |
| +119 | “Americans just work harder” | 54 | 1d | |
| +106 | Shame on you, BofA. But also, the industry needs to change. | 16 | 1h | |
| +101 | BofA List | 22 | 1h | |
| +72 | Sleeping on Jefferies??? | 35 | 1d | |
| +60 | What's up with RBC nowadays? | 28 | 23h |
Career Resources
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?
DM Me, I can help
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
When did you interview with them?
Didn't. Just said I chatted with people in the group.
Got it, what’s your take on the group? Generally chatted and interview are interchangeable
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.
Is this a lateral interview via a recruiters
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
Agree, I interviewed as well. They’re trying to sell it as “IB” but it’s not. It’s corporate banking. The folks are pretty underprepared and looked like they’re trying to market the group as something desirable, which it’s certainly not. Overall not sure if you’d want to join a group where they can’t even explain what they do or worst trying to sell you something else
I would have to say that some of the above comments are a bit harsh and untrue (however I can’t speak for the specific individuals within the group that were spoken to). TD’s credit management arm is somewhat of a cross hybrid between IB and CB and works extensively with LevFin and DCM from what I’ve heard. Heard from a mentee that SAs in this group are getting the same starting 110k base + 5k intern sign on bonus that other banks/groups are offering (not sure about EOY bonus %). TDS as a whole is growing at a remarkable pace and I think it’s unfair to make such large generalizations (source: working at an EB, mentee received an offer there).
How do you know TDS is growing this fast? Also didn't OP say the role is under TD Ameritrade?
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.
Qui consequatur voluptatem et molestiae. Nisi sequi non nihil alias iusto non et. Quos sunt provident tenetur accusamus officia architecto.
Veritatis soluta qui cupiditate ipsam accusamus. Corporis modi laboriosam quo. Tempora corporis soluta distinctio et repellendus ducimus. Dolorem sunt ipsam tempora impedit distinctio voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...