The opening day of the FERMA Seminar 2025 in Zurich focused on the expanding responsibilities of risk managers and their influence across the value chain.
The event, organised by the Federation of European Risk Management Associations (FERMA), brought together industry professionals to discuss the evolving landscape of risk management.
In her welcome address, FERMA president Charlotte Hedemark said, “This year’s theme, ‘Going Beyond the Value Chain’, reflects the evolving role of risk managers in a world that is increasingly complex, interconnected and unpredictable. Our responsibilities no longer stop at the boundaries of our organisations. Today, we are called upon to understand and influence risks across entire ecosystems – from suppliers and investors to regulators and society at large.”
She encouraged attendees to challenge assumptions and exchange ideas, with the aim of building resilience not only within their own organisations but throughout the value chain.
The seminar took place as FERMA prepares for a leadership transition, with Laurent Nihoul set to become the association’s next CEO in December. Nihoul, who previously served as general manager and group head of insurance at ArcelorMittal and chaired FERMA’s Captives Committee, is the first senior figure from the insurance and risk management sector to hold the CEO position.
The seminar also reflected FERMA’s broader strategic direction, as highlighted by its Foresight Committee. The committee has recently called for a shift towards long-term risk strategies, urging organisations to move beyond short-term crisis management and embed risk management within overall business strategy.
Keynote speaker Fiona Watson, vice president, corporate performance and accountability at the World Business Council for Sustainable Development, addressed the impact of physical climate risks on global business operations.
“Reality, not regulation, is driving the agenda,” Watson said. She noted that physical climate risks are already causing disruptions in value chains, affecting profitability and contributing to financial instability.
Watson cited projections that climate-related risks could cost businesses up to US$1.2 trillion annually by 2050. She emphasised the need for companies to integrate environmental factors into corporate strategy to maintain resilience and relevance.
Watson also discussed the role of risk managers in supporting long-term value creation. “Risk managers have a pivotal role to play in mobilising executive alignment around physical risk and resilience. For them, resilience is not simply another control mechanism but a strategic capability that underpins long-term value creation,” she said.
“By framing resilience as a driver of enterprise value rather than a cost, risk managers can redefine their function as architects of business resilience and strategic advantage.”
The seminar’s first day included a session on the skills required for effective risk management in the current environment. The discussion covered how risk managers can act as enablers of business success and the importance of adopting an integrated approach to value chain risk management that extends beyond compliance.
Workshops scheduled for the two-day event will address a range of topics, including challenges in the value chain, investor perspectives, the use of captives to support ESG objectives, and navigating new requirements under the Corporate Sustainability Reporting and Corporate Sustainability Due Diligence Directives. Other sessions will focus on climate risk and geopolitical risk preparedness.
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