Equity Research Analyst – Canadian Banks

Summary  Senior Equity Research Analyst leading our Canadian Banks franchise. Based in Toronto, reporting to the Director of Research, Canada & the UK. Requires a senior, thoughtful and commercially minded analyst to deliver independent research and contribute to a collaborative culture.
Responsibilities   Own primary research coverage of Canadian banks and select asset managers, developing differentiated, evidence‑based investment theses, ratings, target prices and risk assessments.
Analyze bank performance, asset quality, capital and balance‑sheet risk across economic and regulatory scenarios.
Build and maintain rigorous company and industry models, forecasts, valuation frameworks, sensitivity analyses and stress scenarios.
Publish timely, high‑quality research reports translating complex financial, accounting, regulatory and strategic issues into clear investment conclusions.
Form, articulate and defend independent investment views; challenge consensus constructively and revise conclusions when evidence changes.
Lead management meetings, earnings discussions, industry conferences, non‑deal roadshows and investor meetings with senior executives and institutional clients.
Build trusted, credible relationships with bank management teams, boards and investor‑relations professionals while preserving analytical independence and professional boundaries.
Partner closely with institutional sales, sales trading, trading and other research teams to support clients and strengthen the broader franchise.
Collaborate with other financials analysts on joint research, thematic work, conferences, client events and cross‑sector initiatives.
Monitor company disclosures, regulatory developments, macroeconomic indicators, credit conditions, capital‑markets activity and competitive trends affecting the coverage universe.
Develop and mentor associates, set high standards for analytical quality and execution, and foster a demanding but supportive team environment.
Ensure all research and interactions comply with applicable securities regulations and firm policies.
Experience and Skills   Significant bank equity research experience, preferably in a senior role with direct responsibility for financial institution coverage.
Expert knowledge of bank financial statements, accounting, business models and earnings drivers; advanced capabilities in modelling, forecasting, valuation and scenario analysis across credit, funding, capital, liquidity, regulatory and balance‑sheet risks.
Excellent written and oral communication, explaining complex analysis clearly to senior executives, institutional investors and internal partners.
Creative and resourceful in connecting financial, industry and macroeconomic developments with new data and analytical approaches to uncover non‑obvious investment implications.
Independent thought and intellectual courage: reaching differentiated conclusions, challenging consensus professionally and changing a view when facts warrant.
Diplomacy and maturity in managing disagreement, sensitive relationships and competing priorities without compromising analytical integrity.
Sound judgment, composure and decisiveness under pressure, particularly during earnings periods and market‑moving events.
Established credibility with bank management teams and institutional investors, with experience leading management meetings and investor discussions.
A collaborative approach and demonstrated ability to work effectively with other financials analysts and cross‑functional partners on joint research, conferences and client initiatives.
Leadership capability, including developing and retaining high‑performing associates.
Ambitious, thoughtful, collaborative; high standards, sound judgment, respect for others and positive contribution to culture.
Generous with information, committed to developing colleagues and strengthening the team.
Advanced proficiency with AI tools, applying them effectively to improve research quality, analytical depth and productivity.
Strong work ethic, attention to detail, organizational discipline and the ability to manage a demanding workload and stringent deadlines.
Education and Professional Credentials   Master’s degree, CPA designation and/or CFA charter‑holder strongly preferred.
Salary and Compensation  Base salary $225,000 CAD. Salaried position with potential commission structure; may include performance‑based incentives, discretionary bonuses, health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. Salaries vary by location, skills, experience, education and qualifications.

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