Andy did a fantastic job. He is engaging, patient and extremely honest with the audience. He allowed the in-person members to interrupt his speech at any point to ask a question. They definitely utilized this. He was able to keep his presentation on track once he answered the audience question. He shows true remorse and authenticity throughout the entire presentation
Andy Fastow
Former Enron CFO
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Andy Fastow
Biography
Despite today's more regulated and enlightened business environment, we continue to witness "Enron-esque" failures of corporate governance and compliance. 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, management, attorneys, fraud examiners and auditors should ask, in order to ensure that their companies not only follow the rules, but uphold the principles behind them. Mr. 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. Mr. Fastow currently consults with Directors, attorneys, and hedge funds on how best to identify potentially critical finance, accounting, compensation, and cultural issues. He is also a Principal of KeenCorp, an artificial intelligence software company. Mr. Fastow received a BA in Economics and Chinese from Tufts University and an MBA in Finance from the Kellogg Graduate School of Management at Northwestern University. Prior to joining Enron, he was a Senior Director in the Asset Securitization Group at Continental Bank N.A. Since his release from prison, Mr. Fastow has been a guest lecturer at universities and corporations, and at conferences for management, corporate directors, attorneys, accountants, and certified fraud examiners. Mr. Fastow was recently keynote speaker at the United Nations' Principles of Responsible Management Conference, the FBI's Advanced Financial Crimes Seminar, the Association of Certified Fraud Examiners Annual Conference, the American Accounting Association Annual Conference, and the Financial Times' Outstanding Directors Conference.
Andy Fastow
Featured Video
Current: Speaking Reel
Time 04:54
Andy Fastow
Featured Keynote Programs
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.
Why Does Enron Keep Happening?
Enron’s implosion was caused by a Culture problem, not a Compliance problem. Yet, the Human Resources Group at Enron, the people charged with managing culture, thought that everything was fine. Employee surveys showed that Enron’s work environment was great and improving. There were neither objections nor complaints from the employees. Enron was inundated by job applicants. The HR Group won national awards for its employee manual, visions and values statement, and training programs. Yet, in just a four-month span, Enron imploded and declared bankruptcy, destroying $40 billion of shareholder wealth and retirement savings, and resulting in tens of thousands of lost jobs at Enron, Arthur Andersen, and other companies. Corporate disasters keep happening, from Enron, to the financial crisis, to General Electric today, and to hundreds of companies in between. Fastow discusses the common thread of all of these disasters; the phenomenon that HR, Senior Management, and Directors keep missing.
Rules Versus Principles
Join in on a unique conversation about ethics, rules and principals with Andy Fastow, former CFO at Enron. Mr. Fastow was charged with 78 counts of fraud for his central role in creating off-balance sheet entities that disguised the company’s financial condition, and personally made tens of millions in the process. After serving six years in Federal Prison, Mr. Fastow shares his story and invites us to ask questions of him and ourselves as we explore the often grey line of business ethics.
Andy Fastow
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