Noreen Clancy's prime areas of interest relate to energy and environment issues and the financial services sector, including financial decisionmaking. Regarding her environmental work, her current areas of research relate to issues of resilience. She is currently co-leading a study of the effects of Hurricane Sandy on New York City, specifically the risks of flooding as reflected in the expanded flood maps, the rising cost of flood insurance and whether homeowners will have trouble affording the higher premiums. Previously, she assessed how federal agencies implemented the Infrastructure Resilience Guidelines developed by the President's Hurricane Sandy Task Force. She is also managing a grant in the Gulf of Mexico examining the community resilience attributes of areas heavily impacted by the 2010 Deepwater Horizon oil spill.
Clancy's research on the financial services sector has included co-authoring a study of hedge funds and systemic risk, examining the regulatory structure of Broker Dealers and Investment Advisors for the SEC and evaluating how assets are valued (historical cost vs mark-to-market accounting) and whether that led to risk accumulation problems or market distortion during the financial crisis. Her current research interest involves the effects of blockchain technology on disruption of the financial services sector.
Clancy has also participated in a series of behavioral finance research studies related to investors' views on saving, their understanding of basic financial information and their motivations and habits of retirement savings.
Prior to joining RAND, Clancy worked at the National Oceanic and Atmospheric Administration and the Council on Environmental Quality.