LPL Financial today announced that Michelle Oroschakoff has been appointed chief risk officer and managing director.

She will also serve as a member of the firm's management committee and as vice chair of the firm's risk oversight committee. Oroschakoff will be based in San Diego and report to Mark Casady, LPL Financial's chairman and CEO.

In her new role, Oroschakoff will be responsible for firm-wide 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.

Oroschakoff joins LPL Financial from Morgan Stanley, where she most recently served as the global chief risk officer of the wealth management division. Prior to that, she served as the general counsel for Fisher Investments.