• TD appoints Andrew Jensen to lead financial crime risk management in Canada
• He replaces Stephen Joyce, who held the role on an interim basis
• Jensen joined TD last year as global head of sanctions after serving at the US Treasury
• He will report to Jacqueline Sanjuas, TD’s global head of financial crime
• TD was fined over $3 billion and hit with a US asset cap following AML failures
• The bank has since overhauled its AML team and added experienced talent
• CEO Raymond Chun says senior-level AML expertise is a top priority
• Jensen has also worked at Scotiabank and Citi in senior sanctions roles
• TD is using US lessons to enhance AML programs globally
• The bank is also restructuring and cutting 2% of its workforce

TD Bank has appointed Andrew Jensen as the new head of financial crime risk management in Canada, effective July 14, according to an internal memo seen by Reuters.

Jensen, a former US Treasury Department official, takes over from Stephen Joyce, who had been serving in the position on an interim basis. The memo did not elaborate on Joyce’s next role within the organization.

Jensen joined TD last year as global head of sanctions, a strategic hire made during the fallout from one of the largest anti-money laundering settlements in banking history.

TD faced more than $3 billion in penalties and a $434 billion asset cap on its US retail operations, prompting a broad internal shake-up and a renewed focus on regulatory expertise.

Jensen will retain his responsibilities for global sanctions while stepping into his new role. He will report directly to Jacqueline Sanjuas, who became TD’s global head of financial crime risk management in January following the departure of Herb Mazariegos.

Jensen’s résumé includes previous private-sector roles at Scotiabank and Citi, where he held senior positions within sanctions compliance teams.

His LinkedIn profile highlights extensive experience at the intersection of regulation and banking, a background TD appears to value highly amid its compliance challenges.

TD CEO Raymond Chun has been candid about the lessons learned from the AML debacle in the US. Speaking in January, Chun emphasized the necessity of having senior talent that matches the scale and complexity of an institution like TD.

“Talent at the most senior levels in AML is absolutely one of the top priorities that we have as an organization,” he said.

The bank has responded by rebuilding its AML teams, particularly in the US, where it faced the brunt of regulatory scrutiny.

Executives have stated that they are applying the insights gained from the US experience across the global enterprise to strengthen overall compliance and risk practices.

During TD’s second-quarter earnings call in May, the bank announced plans to reduce its workforce by about 2% as part of a broader restructuring. It also confirmed the wind-down of a $3 billion portfolio linked to its US point-of-sale financing operations.

A spokesperson for the bank declined to comment on the new appointment, but Jensen’s promotion is being interpreted as a strategic reinforcement of TD’s commitment to strengthening financial crime controls across jurisdictions.

The timing of the move aligns with growing expectations from regulators and investors alike that banks not only improve their governance frameworks but also invest in leadership capable of navigating complex compliance demands.

Jensen’s dual role signals that TD is streamlining its leadership structure while prioritizing individuals with both public and private sector experience in sanctions and financial crime.

As scrutiny of anti-money laundering frameworks intensifies globally, banks like TD are under pressure to demonstrate not just willingness, but also readiness, to meet evolving expectations.

With Andrew Jensen now taking a lead role in Canadian operations, TD hopes it is placing its trust in a seasoned compliance strategist to help restore credibility and rebuild internal resilience in the wake of a crisis that shook its North American business.