Treasury Deputy Secretary John Lonsdale has been appointed as the second Deputy Chairman of the Australian Prudential Regulation Authority (ARPA).

He was nominated in May for the newly created five-year role, which required approval from the Governor-General and legislative changes to allow for two deputy chairmen.

Federal Treasurer Josh Frydenberg says having a second deputy chairman will boost the regulator’s capabilities.

“[It] will add experience to APRA’s board, with Mr Lonsdale’s appointment ensuring a strong blend of supervisory experience, industry knowledge and policy expertise within its executive group,” Mr Frydenberg said.

Mr Lonsdale has had a 30-year long career at Treasury and was involved with the Financial System Inquiry in 2014 as head of its secretariat.

The other deputy chairman, Helen Rowell, started her new five-year term in July.