Melville-Kelly becomes deputy chief executive immediately, reporting into chief executive Jim Boyd.

She remains director of risk, policy and compliance.

As part of the restructure, Laura Gibson has been appointed as head of membership and engagement and Tom Brett has been promoted to head of commercial and business development.

Both roles will report into Melville-Kelly.

The council says it is also in the process of hiring a new head of risk, policy and compliance to further strengthen its governance and oversight capability.

The changes follow the council’s general meeting in December where members agreed to a special resolution broadening its remit across all forms of later life lending that fall within the regulated mortgage environment but retaining equity release as its core are of focus.

ERC chief executive Jim Boyd says: “The restructure and these promotions are designed to support the Council and streamline our operations, to best respond to the opportunities arising from the fast-changing later life lending market – and help protect and promote the interests of our members.”

“While we are evolving, the Council stays agile, still punches above its weight, and remains synonymous with high standards and good consumer outcomes.”

Commenting on her promotion, Melville-Kelly adds: “I am honoured to be taking on the role of deputy chief executive at the Council. This restructure comes at a pivotal time as we broaden our remit to encompass all forms of regulated later life lending, while continuing to champion the high standards and consumer protections that define equity release.”

“It’s a very exciting new chapter for the Council and I look forward to supporting Jim and working closely with our talented team, to seize the opportunities in this evolving market.”

“Together, we will ensure the Council remains agile, nimble, flexible and influential, delivering strong outcomes for our members and, most importantly, for consumers navigating their later life financial options.”