Functional departments and their roles within Enron.
9 entries
Enron's corporate accounting organization led by Chief Accounting Officer Rick Causey, responsible for financial reporting, controller functions, and the aggressive accounting practices at the center of the company's fraud and collapse.
Enron's compliance and ethics function, embedded within the Risk Assessment and Control group, administered the Code of Ethics, Restricted Lists, ethical wall procedures, and anonymous reporting facilities -- a formal infrastructure that failed to prevent or detect executive-level fraud.
Enron's quantitative research division led by Vince Kaminski, employing approximately 50 PhD-level analysts who specialized in derivatives pricing, risk modeling, and financial engineering from 1992-2002.
Enron's government relations, regulatory affairs, and political strategy department that managed relationships with legislators, regulators, and government officials worldwide
Enron's HR department, led by EVP Cindy Olson, administered the rank-and-yank PRC system, managed corporate values programs, oversaw the 401(k) plan, and became the frontline for mass layoffs and the $250 million ERISA settlement after the 2001 collapse.
Enron's distributed internal audit function, nominally under Chief Risk Officer Rick Buy, relied heavily on Arthur Andersen for execution and focused on trading controls while missing the accounting fraud that destroyed the company.
Enron's in-house legal team led by General Counsel James V. Derrick Jr., responsible for corporate transactions, regulatory compliance, litigation, and the complex structured finance work that became central to the company's collapse.
Enron's corporate communications department that managed media relations, press releases, and crisis communications during the company's rise and collapse from 1999-2001
Enron's operational risk monitoring function, formally known as Risk Controls-Operational, which handled daily VAR calculations, position limit monitoring, and risk reporting across all trading desks under Sally Beck's Global Risk Management Operations umbrella.