LPL Financial, a wholly owned subsidiary of LPL Financial Holdings, has appointed Michelle Oroschakoff as chief risk officer and managing director. Oroschakoff also will serve on the management committee and as vice chair of the risk oversight committee. She will report to Chairman and CEO Mark Casady.

In her role at LPL Financial, Oroschakoff will be responsible for firm-wide risk management processes and controls, including regulatory compliance, data security and privacy and other risk management functions, as well as working closely with the firm's regulators.

Oroschakoff joins LPL Financial from Morgan Stanley, where she most recently served as global chief risk officer of the wealth management division and prior to that, as chief compliance officer for Morgan Stanley Smith Barney.

Prior to Morgan Stanley, Oroschakoff served as general counsel for registered investment advisory firm Fisher Investments. Earlier in her career, she spent 11 years in a number of senior legal and compliance roles at Morgan Stanley, including associate general counsel and head of the firm's San Francisco litigation department.