Risk Management - Credit Market Risk Intern/Co-op (Fall 2026)

DEPARTMENT OVERVIEW 

 
Co-op and Internship opportunities allow you to gain valuable work experience across a number of the businesses at TD. You will work with experienced colleagues, receive world class training, and be part of a community of students across TD, where you will have an impact, grow as individual and experience our culture of care. 

Our Co-op/Intern Programming is offered with select Co-op and Internship roles and is designed to help you better understand the TD business, build on critical career capabilities, and broaden your professional network. This program is designed to complement your on-the job experience and features: 

• Leadership talks with key Leaders from across the organization 

• Lunch and Learns on topics such as Innovation 

• Diversity and Inclusion and Personal Branding and so much more 

Market Risk (MR) is responsible for managing the ever-changing and dynamic world of trading and non-trading market risk. Within MR, we support TD Securities business objectives in accordance with TD’s risk appetite and regulatory expectations. MR provides independent oversight of enterprise-wide market risks; ensuring all significant risks are appropriately measured, reported, analyzed, and transparent. As part of this mandate, the team focuses on the full risk management cycle: 

• Identifying risks 

• Measuring risks 

• Communicating risks 

• Making decisions on taking/mitigating risks 

JOB DESCRIPTION 

As a Market Risk Analyst Intern/Co-op, you’ll support the Credit team in providing market risk oversight and reporting for credit trading businesses. This role is designed to offer meaningful work experience, with responsibilities tailored to your development stage and career interests. The position is also a pipeline for full-time recruitment into TD’s 2027 rotational associate program. 

Reporting & Analytics:  

• Measure different market risk exposures through the use of risk sensitivities (deltas, gammas, vegas, etc.), VaR, Stress testing, and regulatory BASEL III capital calculations. 

• Conduct in-depth analytics on large data sets to uncover trends, patterns and actionable insights through the delivery of meaningful commentary to senior management, and to help manage the risk appetite of the bank.  

• Support infrastructure changes and enhancements related to risk policies, regulatory requirements, and system updates. 

• Assist in developing dashboards and reports using tools such as AI platforms, Power BI, Confluence, Excel, SQL, Python and Tableau. 

• Collaborate with full-time analysts on projects related to risk analytics, forecasting, and performance measurement. 

• Participate in data validation and quality assurance checks to ensure accuracy and reliability. 

• Contribute to presentations and communicate findings to stakeholders in a clear and concise manner. 

Project Work:  

• Contribute to projects, such as developing new tools or automating reporting processes using Python or VBA. 

• Assist with documentation and process improvement initiatives. 

Collaboration & Learning:  

• Work closely with cross-functional teams in Toronto, New York, Singapore and London. 

• Participate in training, onboarding, and mentorship programs. 

• Engage in team meetings and knowledge-sharing sessions. 

• Maintain a culture of risk management and control, supported by effective processes in alignment with enterprise policies, frameworks, and TD's risk appetite. 

• An opportunity to apply textbook theories to real-world applications in risk management by developing strong analytical skills. As an intern, you will gain exposure to the full spectrum of analytics, including: 

• Descriptive Analytics: Summarizing historical data to understand trends and performance. 

• Diagnostic Analytics: Investigating data to identify root causes and explain outcomes. 

• Predictive Analytics: Using statistical models to forecast future scenarios. 

• Prescriptive Analytics: Recommending actions through optimization and simulation techniques 

• Develop and operationalize standards, policies, and processes to identify, report, and mitigate overall risk exposures within the business. 

• Develop and maintain knowledge of existing and emerging risks across the business. 

• Continuously reinforce business knowledge such as trading strategies and analytical principles underlying the pricing and risk management of financial derivatives. 

JOB REQUIREMENTS  

We’re proud to work with a group of diverse colleagues. If you have relevant experience that isn’t mentioned  

below, tell us about it in your resume or cover letter. 

• Currently enrolled in an undergraduate degree in Finance, Business/Commerce or related field 

• Must be enrolled in an undergraduate degree with the intent of going back to school at the start of your work term (requirement of all co-op/intern positions) 

• In-depth knowledge of risk processes and methodologies.  

• Excellent analytical, judgment, and decision-making skills in assessing and handling risk.  

• A dynamic professional with a positive approach and strong communication skills to liaise with cross-functional teams and colleagues to achieve medium to long-term goals.  

• Robust organizational skills and the ability to work in a demanding environment while handling multiple deadlines and priorities.  

• Knowledge in data processing techniques (VBA and Python) is an asset to continuously improve the risk management infrastructure.  

ADDITIONAL INFORMATION 

• This position is a 4-month work term and will commence September - December 2026. 

• Applications must include a transcript, cover letter (one letter-sized page or less) and a resume (maximum of 2 pages). 

• We welcome all applications; however, we will only contact qualified candidates chosen for an interview. Thank you for your interest. 

• TD requires employees to reside in the country where the role is located, irrespective of remote working arrangements 

• TD is committed to providing you with the best candidate experience and internship in these unique circumstances. As such, work location and start dates are subject to change. 

What You’ll Learn 

• Fundamentals of market risk management, including risk sensitivities, VaR, and stress testing. 

• Analytical principles underlying the pricing and risk management of financial derivatives. 

• How to communicate findings and recommendations to diverse stakeholders. 

• Exposure to TD’s risk management systems and global trading activities. 

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.  

Colleague Development