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.”