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Andy Fastow
Former CFO of Enron; Risk Management, Ethics, and HR Expert
Enron’s former CFO will make observations about how the ambiguity and complexity of laws and regulations breeds opportunity for problematic decisions and will discuss what questions corporate directors and management should ask in order to ensure that their companies not only follow the rules, but uphold the principles behind them.
Bio
Andy Fastow was the Chief Financial Officer of Enron Corp. from 1998 – 2001. In 2004, he pled guilty to two counts of securities fraud, and was sentenced to six years in federal prison. He completed his sentence in 2011, and now lives with his family in Houston, Texas. Andy currently consults with management, directors, attorneys, and hedge funds on how to best identify potentially critical finance, accounting, compensation, and cultural issues.
His training sessions focus on risk in the “gray zone”, where decisions that may technically be allowed give rise to risks that are not properly considered. He helps attendees better understand the limited role of auditors and attorneys, how technically-correct but ethically-challenged decisions may be interpreted by the market, and the steps they can take to become more self-aware and able to identify, price, and manage these risks.
Andy is the only Enron executive that has taken full responsibility for his actions and has both repeatedly and publicly expressed remorse. In addition to serving his prison sentence, Andy forfeited far more money than he ever earned at Enron. He is credited with being the individual most responsible for helping recover $6 billion for Enron shareholders.
His sessions are also typically awarded 1 ½ hours of CLE and CPE Ethics credits.
Keynotes
Featured Keynote
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Unbiased: How to Manage Risk in the Gray Zone
We live in the Age of Corporate Disasters. From Enron to Purdue Pharma, J&J, 3M, General Electric, Boeing, and Silicon Valley Bank, to name a few–seemingly great and iconic companies have been harmed or destroyed by self-inflicted wounds. What has changed? Are we worse at compliance? Are we less ethical? Has corporate culture changed so significantly? The leaders at these organizations did not set out to do harm. Their challenges arose from an inability to lead their teams through and to the right decisions in what we call the Gray Zone– that place where creative application of complex and ambiguous rules allow us to get to a technically correct answer that may be the wrong solution. The Gray Zone is where leadership is needed most, but where leaders have the least amount of training.
Andy Fastow spent six years in federal prison thinking about his role as CFO at Enron. He is now a sought-after public speaker who consults with Boards of Directors on ways to help leaders better identify, price, and manage these unseen Gray Zone risks in their businesses and in their lives.
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