Melinda Howes, the departing chief executive of the Actuaries Institute in Australia is set to take a position with AMP’s wealth management business.

Howes’ title and responsibilities have not yet been revealed, but according to herself, the role will encompass strategy and business operations.

"AMP is a business that understands the value of actuaries as business advisers. This is a chance to practice what I've been preaching," Howes added.

Howes' resignation from chief executive of the Actuaries Institute was revealed yesterday. Leaving on 1 November, she will take up her new position at AMP later in the month.

Prior to Howes' appointment at the Actuaries Institute, she served as the director of policy and industry practice at the Association of Superannuation Funds of Australia.