Yue (Nina) Chen

Yue (Nina) Chen, Chief Climate Risk Officer at the Office of the Comptroller of the Currency

Yue (Nina) Chen is the newly appointed Chief Climate Risk Officer at the Office of the Comptroller of the Currency (OCC). In this role, she will lead the agency's climate risk efforts related to supervision, policy, and external engagement.4

Background

• Previously served as the Executive Deputy Superintendent of the Climate Division at the New York State Department of Financial Services (DFS)36
• Vice chair of the climate risk steering group at the International Association of Insurance Supervisors2
• Holds a Ph.D. in chemical engineering from the Massachusetts Institute of Technology25

Significance of Appointment

• Reaffirms the OCC's strong commitment to improving oversight of climate-related financial risks1
• Elevates the OCC's internal climate function into a full-fledged office reporting directly to Acting Comptroller Michael Hsu2
• Seen as an important step in addressing the systemic financial risks of the climate crisis by organizations like Ceres3

Key Focus Areas

• Incorporate feedback on the OCC's proposed Principles for Climate-Related Financial Risk Management for Large Banks and further develop this guidance1
• Ensure banks develop frameworks to identify, measure, monitor, and control climate-related risks12
• Encourage banks to consider a diversity of approaches in climate risk scenario analyses2

Chen's appointment underscores the growing importance of climate risk management in the banking sector and the OCC's commitment to protecting the safety and soundness of the financial system in the face of climate change.13