Major US credit rating agencies are now including enterprise risk management (ERM) assessments in their ratings processes for financial institutions and insurers. In May, Standard and Poors announced they will now incorporate ERM reviews into their ratings process for nonfinancial companies.  ERM will add a new dimension to the S&P analysis of management and corporate governance, creating a more systematic framework for an inherently subjective topic. 

One of S&P’s key objectives with this initiative is to become more predictive with the ratings process rather than relying solely on current and historical data.  This fundamental shift can create opportunities or consequences for rated companies.  Those that can demonstrate established, proactive risk management practices may see upgrades in their credit ratings.   Conversely, those that have not established credible risk management practices may be penalized.

Join us for this timely and informative presentation hosted by Compliance 360.  This webcast is designed to help you prepare for this change in the S&P ratings process and gauge your current practices relative to expectations of S&P analysts.  Steven Dreyer, Managing Director for S&P and the global leader of S&P’s initiative to apply enterprise risk management to the credit analysis process for corporate ratings, will explain the following:

• S&P's definition of enterprise risk management (ERM);
• What is expected beyond compliance with SOX Section 404;
• S&P's ERM evaluation approach - the key indicators that the analysts will be looking for;
• Top questions that your management team will be asked;
• The potential impact of ERM assessments on the credit ratings process;
• Timeline for rolling out the changes

Who Should Attend:

• CEO and COO
• Chief Risk Officer
• Chief Compliance Officer
• LOB executives with risk management responsibility
• Board of Directors

About the Presenter:

Steven Dreyer is a Managing Director for S&P and the leader of S&P's initiative to apply enterprise risk management to the credit analysis process for corporate ratings globally.  He is also U.S. practice leader for Utilities & Infrastructure Ratings, overseeing a group of 40 analysts providing credit ratings and research.  From 2000 to 2006, Dreyer was North American practice leader for Insurance Ratings.  He joined Standard & Poor's in 1990 with its acquisition of ratings firm Insurance Solvency International, Ltd., whose U.S. subsidiary he managed.  Prev­iously he was responsible for insurance industry forecasting at Chase Econometrics.

Dreyer was named to Insurance Newscasts *List of 100 Most Powerful People in Insurance in North America from 2002 to 2006.  In 2003, he contributed to the Greater New York Safety Council's Roundtables on Sector Preparedness, reporting to the 9-11 Commission.  He is a director of the Insurance Marketplace Standards Association, which sets ethical standards in the sale of life insurance and annuities.

Presented by: