Spoilers forthcoming.
My guess (a near year after your original post) since I just watched the film is that she is there to give DeNiro's character a look into the mirror when it comes to his profession and lifestyle. The man DeNiro was in competition with was sleeping with his high school aged daughter. Later on, you see some others who throw their arm around a girl and wink to DeNiro, noting how the ladies are 16.
The revelation comes after a scene where DeNiro wakes up after spending a night with a younger woman. Basically, it's showing that some people in Hollywood use their influence to get young, pretty girls and not even their own families can be excluded. A cold bucket of water into DeNiro's character's face.
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