Yirendai Ltd. announced that its board of directors has appointed Ms. Chaomei Chen as a director of the company, effective December 18, 2016. Ms. Chen, who has met the independence requirements of Section 303A of the Corporate Governance Rules of the NYSE and Rule 10A-3 under the Securities Exchange Act of 1934, has also been appointed as a member of the company's Audit Committee and Nominating, Compensation Committee and Corporate Governance Committee, replacing Mr. Qing Li. Ms. Chen has been part of Yirendai's Advisory Committee since January 2016 and been providing strategic advice and insight to Yirendai's senior management team on a broad range of issues including risk management, credit analysis, technology and business operations. Previously, Ms. Chen served as Chief Risk Officer of LendingClub from 2011 to 2015 and was responsible for the establishment and enhancement of the credit and risk management organization.