Oracle Fusion Cloud Risk Management is a suite of applications designed to document and assess your company's risk-control matrix, detect policy violations, and certify role assignments.
To start using Oracle Fusion Cloud Risk Management, follow these steps:
- Opt In to Risk Management: Navigate to Navigator > My Enterprise > Offerings. Scroll to the Risk Management offering and select it. Click the Opt In Features button. Select the Enable check box for Risk Management. Ensure Application Extensions and Users and Security are selected. Click Done and ensure the Status reads Enabled.
1. Configure Common Elements
- Activate Alerts: Navigate to Settings for Email Alerts and Notifications in the Setup and Administration work area. Adjust settings for email and notifications as needed.
- Manage Lookups: Navigate to Lookups tab in the Setup and Administration work area. Add or modify lookup values for various attributes as required.
- Set Up the Risk Management Dashboard Icon: Create a dashboard in Oracle Transaction Business Intelligence (OTBI). Navigate to Risk Management > Setup and Administration > Configuration Options. Paste the dashboard URL in the Custom Dashboard URL field.
2. Configure Advanced Controls
- Set Up Data Sources: Oracle Cloud data source is available by default. For EPM-ARCS data source: Provide authentication details (API Credentials and Authorization). Run the External Access Synchronization job to sync data. Set synchronization schedules and preferences.
- Optimize Performance: Configure record limits for access models. Set synchronization cutoff dates for transaction and audit data. Regularly update these settings to ensure optimal performance.
- Set Up Currency Conversion: Enable the currency conversion feature in the Advanced Controls Configuration panel. Select the target currency and conversion rate type.
- Schedule or Run Data Synchronization: Run synchronization to update data for transaction and audit models. Navigate to Advanced Controls Configuration and use the Run or Schedule options.
- Configure Global Users: Select identifying attributes (e.g., Email, First Name, Last Name) in the Global User Configuration page. Run or schedule the global-user synchronization job. Review global users and related users to ensure correct configurations.
- Purge Advanced-Control Results: Purge outdated incident and data set results through the Purge Results option in the Advanced Controls Configuration panel.
- Overview of Jobs: Jobs perform background tasks like synchronizing data, evaluating models, and generating reports. Manage jobs through the Monitor Jobs page.
- Predefined Jobs: Security Synchronization, Report Synchronization, and other predefined jobs handle key background tasks. Schedule these jobs appropriately to ensure they run as needed.
- Manage Job Schedules: Set or modify schedules for jobs through the Scheduling page. Use the Run Now feature to run jobs on demand without altering their schedules.
- Create or Edit a Perspective Hierarchy: Name the hierarchy and set up perspective values and their relationships. Use the Perspectives work area to manage hierarchies.
- Manage Perspective Mappings: Map perspective hierarchies to objects in the Module Perspectives page. Ensure mappings are active and required as needed.
- Perspective Status: Manage the active or inactive status of perspective values and hierarchies. Adjust mappings and hierarchies to reflect changes in status.
- Set Up Auditing: Use the Oracle Cloud audit framework to track changes to records. Configure auditing through the Setup and Administration work area.
- Run Audit Reports: Generate and review audit reports to monitor changes and ensure compliance.
- Access help, support, training, and community resources through Oracle's support and community portals.
- Share feedback with Oracle to improve user assistance and support.
This checklist provides a high-level overview of the implementation steps and configuration options for Oracle Fusion Cloud Risk Management. For detailed instructions and additional configurations, refer to the full Oracle documentation.
