Associate, Investment Banking, US Municipal Finance

About the role

We are seeking a highly motivated Municipal Finance Associate to provide analytical, research, and transactional support to investment bankers in all departmental work activities relating to the structuring and issuance of municipal bonds through negotiated, competitive sale, or via private placement. This position is within the Municipal Finance Student Loan Group, which provides a complete range of investment banking and advisory services for higher education institutions and state-based lending authorities that issue municipal and asset-backed student loan bonds.

Responsibilities

• Gather, organize, and analyze information necessary to prepare proposals, client presentations, offering statements, and marketing materials.
• Prepare proposals and presentations for prospective clients, detailing financing alternatives in originating, structuring, and marketing an issue, as well as our underwriting capabilities.
• Participate in industry conferences and other client marketing activities, including virtual and in-person client visits and oral presentations.
• Prepare financial projections and perform modeling and related financial analyses for potential and actual capital markets transactions, including data collection, conversion, and analysis.
• Construct issuer capital structure summaries, prepare bond and loan portfolio analyses, and perform addressable market analyses to identify potential debt financing and refinancing opportunities.
• Assist with structuring capital markets transactions to align with client, investor, credit rating agency, and internal risk group preferences and requirements, including cash flow modeling using proprietary and third-party models (e.g., DBC Student Loan and Intex).
• Assist with performing collateral analyses for proposals, client presentations, and offering materials, including cohort and stratification analyses using database tools (e.g., SQL / MS Access).
• Demonstrate an understanding of macroeconomic, financial market, and political forces affecting bond pricing, particularly municipal bonds, using internally and externally sourced data such as Bloomberg.
• Enhance the group’s use and knowledge of available bond market information by collecting, organizing, and maintaining marketing materials and resources.
• Coordinate activities related to the pricing and settlement of public finance transactions, working closely with management and investment bankers to secure closings.
• Prepare transaction term sheets, timetables, and working group distribution lists for live bond transactions.
• Coordinate the activities of working group members, including Bond Counsel, Underwriter’s Counsel, Trustee Banks, and Rating Agencies to ensure efficient transaction processing.
• Develop data and analytical processing skills, including proficiency in available software applications and data resources.
• Proactively identify and escalate operational risks or deficiencies.
• Review and comply with Firm Policies applicable to business activities.
• Perform other duties and responsibilities as reasonably required.

Requirements

• BA/BS degree in Business Administration, Finance, Economics, Mathematics, Engineering, or another quantitative/analytical field, with a demonstrated record of high achievement.
• Graduate degrees in these disciplines and professional certifications such as CFA/FRM are a plus.
• Minimum of 1-3 years of related professional experience in investment banking, credit rating agencies, and/or “Big 4” consulting/advisory.
• Experience in structured finance, securitization, asset-backed securities (ABS), and/or residential mortgage-backed securities (RMBS) is a plus.
• FINRA Series 52, 63, and Securities Industry Essentials (SIE) licenses are required and must be obtained within 60 days of hire. FINRA Series 79 license required as applicable.
• Quantitative and qualitative analytical skills; strong knowledge of finance, particularly fixed income securities.
• Experience with cash flow modeling using software applications such as DBC Student Loan, INTEX DealMaker, INTEXcalc, and/or Bloomberg is a plus.
• Advanced Excel skills and experience with programming languages such as Python, R, SQL (MS Access), and/or VB/VBA are a plus.
• Strong work ethic, with the ability to manage conflicting priorities, deadlines, and requests in a fast-paced environment while maintaining high work standards and attention to detail.
• Excellent interpersonal skills with the ability to establish and maintain relationships at all organizational levels.
• Strong oral and written communication skills.
• Ability to take initiative and function independently while balancing strong teamwork skills.
• High standards of professional and ethical conduct.

Benefits

• Comprehensive Total Rewards Program including competitive compensation and flexible benefits.
• 401(k) program with company-matching contributions.
• Health, dental, vision, life, and disability insurance.
• Paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work and build close relationships with clients.
• Potential to earn more through RBC’s discretionary variable compensation program, based on business performance and individual goals.

Pay

The expected salary range for this position is $115,000 - $180,000, depending on experience, skills, and registration status.

Schedule

Full-time position with 40 work hours per week.