1) Take any ability scores the creature has over 20, divide the extra amount by two, round down and make that the creature's rank in the appropriate super-ability.
2) Give the creature a Damage saving throw bonus equal to its base Con bonus plus any natural armor bonus that it has. Subtract the natural armor bonus from its AC to calculate its new Defense. (This usually results in most monsters being easier to hit, but more difficult to hurt.)
3) Divide the creature's maximum damage by 6 (round down) and make that its damage bonus, if it exceeds the creature's base Strength bonus, otherwise just use the Str bonus.
4) Convert any spell-like or supernatural abilities the creature may have into ranks in the appropriate super-powers.