Risk Management Cloud

FAQ

 

What is Risk Management Cloud?

Oracle Risk Management Cloud provides CFOs, CIOs, controllers, and auditors modern, data-driven services to help secure their ERP implementation, strengthen internal controls, and automate manual audit and compliance tasks. It offers a complete suite of governance, risk management, and compliance (GRC) applications, and is part of the Oracle Cloud. 
 
Risk Management Cloud has already been adopted by hundreds of customers. Many of these customers are implementing Oracle Financials and Risk Management Cloud at the same time. They are doing so to streamline ERP Cloud role design for security and segregation of duties, to automate the internal controls and compliance processes that ensure financial reporting integrity, and to continuously monitor for insider threats and policy violations.
 
Oracle Risk Management Cloud includes the following modules:
  • Advanced Access Controls Cloud
  • Advanced Financial Controls Cloud
  • Financial Reporting Compliance Cloud

What key use cases does Risk Management Cloud support?

Risk Management Cloud supports the following use cases:
  • Stop payment fraud and error
    • Analyze data across setups, users, roles, and transactions
    • Employ data science to detect anomalies and discover unusual patterns
    • Leverage best practice transaction controls library
  • Prevent insider data breaches
    • Deep analysis with privilege-level analysis of user access
    • Define and optimize roles based on need and security
    • Leverage best practice access controls library
    • Separation of duties (SoD) and role security analysis by replacing scripts, spreadsheets, audit services, etc.
  • Remove blind spots and stay ahead of emerging risks
    • Raise visibility with security and risk dashboards
    • Author new controls with graphical algorithm workbench
    • Engage and gain insight from employees with periodic surveys and assessments
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