Mr Cataldo has 20 years of experience in senior risk roles, including six years at the consumer chief risk officer at financial services provider GE Capital.
He also spent several years at GE Capital consulting on credit and operational risk infrastructure projects.
Prior to GE Capital Mr Cataldo worked several years with information, analytical and marketing services provider, Experian developing scorecard and decision systems and fraud solutions across the Asia Pacific.
ME Bank chief executive Jamie McPhee said Mr Cataldo brings strong leadership and a unique perspective as the “bank seeks to capitalise on its technology transformation program and other growth opportunities, notably CCR”.
Mr McPhee said CCR is providing ME Bank with significant opportunities by “delivering big benefits to consumers and to the economy more broadly, by opening up lending to a large pool or underserved but creditworthy borrowers”.
“It has the potential to help many thousands previously excluded from accessing credit including first home buyers, households on lower incomes, young adults, ethnic minorities, women, renters, and people with minor credit impairments,” said Mr McPhee.
ME Bank said it is looking to expand its lending portfolio in light of the new regime, including introducing new home, personal and business loan products.
Mr Cataldo said he will work to “conduct modelling to fully understand the expected uplift in credit approvals from the comprehensive date”.
