LPL's San Diego headquarters.

Michelle Oroschakoff, managing director and chief risk officer for LPL Financial, will expand her role to include oversight of the firm’s legal and government relations functions as chief legal and risk officer, effective June 9, the independent broker-dealer said Thursday.

Oroschakoff takes over general counsel duties following the departure of David Bergers, who will be departing LPL to accept a position in private practice.

She joined LPL in 2013 from Morgan Stanley, where she was the global chief risk officer for Morgan Stanley Wealth Management.

At LPL, Oroschakoff is responsible for companywide risk management processes and controls, managing compliance and governance and enhancing the corporate risk profile as chair of LPL’s Risk Oversight Committee.

“During her four years at LPL, Michelle’s leadership has had a transformative effect not only on our governance, risk and compliance functions but also on the culture of risk management across the firm,” said Dan Arnold, LPL president and CEO, in a statement. “She has a proven ability to work cross-functionally to achieve outcomes in the best interest of investors, advisors and the company, all while managing through a tremendous amount of change in the regulatory environment.”

Bergers, Arnold said, “has reshaped our legal functions, provided wise counsel to the board and the executive team and strengthened our relationships with regulators, legislators and policymakers. Our ability to consolidate our legal and risk functions under one experienced leader is a credit to the work both David and Michelle have done to strengthen risk management at LPL. We wish David well as he enters private practice.”

During her 18 years at Morgan Stanley, Oroschakoff worked in a variety of legal, risk and compliance roles, including as global chief compliance officer for wealth management, and associate general counsel and head of the firm’s San Francisco litigation department.

“David and I both joined LPL in 2013 and have worked closely together during the last four years to strengthen the company’s legal, risk management and compliance controls,” she said. “These areas will continue to be a significant focus for everyone at LPL.”

Oroschakoff earned a law degree, cum laude, Order of the Coif, from the University of Michigan and a Bachelor of Arts in English literature from the University of Oregon. She will continue to be based in LPL’s San Diego office.

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