TORONTO (Reuters) - TD Bank's Chief Global Anti-Money Laundering Officer Herbert Mazariegos is stepping down effective immediately, two sources told Reuters on Thursday, as the bank takes remediation actions after it was fined by U.S. regulators for compliance failures.

Mazariegos joined TD in November 2023 from Bank of Montreal, where he served as the chief anti money laundering officer for over four years. He was hired as a part of TD's push to revamp its risk and compliance team.

Mazariegos, hired while outgoing CEO Bharat Masrani was in charge, will be replaced by Jacqueline Sanjuas, the head of U.S. financial crime risk management at TD, one source said.