LPL Financial announced Friday that Michelle Oroschakoff, formerly global risk officer at Morgan Stanley, has been appointed chief risk officer and managing director for the independent broker-dealer.
Oroschakoff, who will be based in San Diego and report to LPL CEO Mark Casady, will be responsible for firmwide risk management processes and controls, including regulatory compliance, data security and privacy and other critical risk management functions, as well as working closely with the firm’s regulators.
“We are delighted to welcome Michelle Oroschakoff to our firm,” said Casady (left) in a statement. “Her hire is a reflection of the continued importance we attach to risk management, compliance and controls. Michelle’s skills in managing risk in a large, complex organization and working closely with regulators will be an important addition to the company.”
Casady went on to note that in recent years, LPL’s “commitment to strengthening our compliance, risk management and controls culture has intensified, resulting in even greater investments in people, processes and infrastructure. Michelle’s hire is part of our significant investment in multiple enhancements to our risk management structure.”
Oroschakoff joins LPL from Morgan Stanley, where she was most recently the global chief risk officer of the wealth management division and prior to that, chief compliance officer for Morgan Stanley Smith Barney.