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.