1z0-1058-23 Exam Dumps - Oracle Risk Management Cloud 2023 Implementation Professional

To meet the customer’s requirements for conducting Operational Effectiveness assessments with restricted access and specific review processes, you should design perspectives using the Region hierarchy for security purposes and the Business Process hierarchy for reporting. This approach allows you to:

• Assign perspective values to controls and assessments based on the Region hierarchy to ensure that assessment results are accessible only to users within the respective regions (North America and EMEA).
• Utilize the Business Process hierarchy for organizing and reporting control assessments, enabling the Chief Risk Officer to review the results by Business Process on a weekly basis.

By separating the security and reporting functions into two distinct hierarchies, you can effectively manage user access and provide structured reporting that aligns with the customer’s organizational and operational needs.

References:The solution is derived from Oracle’s documentation on perspectives, which explains how perspective values can be assigned to object records for sorting and filtering, as well as for security and reporting purposes in risk management and compliance processes12. It is essential to consult the latest Oracle Risk Management documentation to ensure the perspectives are designed correctly for the specific use case345.

• Choose display (or hide) configurable options: This allows users to manage the visibility of configurable options such as results, events, consequences, and treatments within the module.
• Set “object-perspective” association: Users can associate objects with specific perspectives, which helps in organizing and viewing data according to different business dimensions.
• Edit the assessment activity question and guidance text: This step involves customizing the questions and guidance text for various assessment activities to align with the organization’s specific requirements.

References:The information provided is based on the Oracle Risk Management documentation and resources, ensuring accuracy and adherence to the official guidelines12.

Please note that while ‘Create object data import templates’ and ‘View assessment response details for all assessment types’ are valid actions within Oracle Risk Management, they are not listed as steps that can be performed on the Configure Module Objects pages according to the provided documentation.

In Oracle Risk Management, when you want to identify Controls with the most Incidents, particularly where those Controls account for a significant percentage (like 80%) of all Incidents, you would apply the Pareto principle. This principle is also known as the 80/20 rule, where roughly 80% of the effects come from 20% of the causes. In this context, after importing a custom object that contains the number of incidents associated with each control into a transaction model, you would use the Pareto pattern filter. This filter will help you identify the subset of Controls that are contributing to the majority of Incidents, allowing you to focus on the most critical areas that need attention.

References:

• Oracle Advanced Controls Cloud Service documentation1.
• Overview of Oracle Advanced Controls2.

• Identify Responsible Users for Perspectives: Determine the individuals or teams who will have the authority and responsibility to create and manage perspectives. This includes setting up the perspectives and ensuring they are aligned with the organization’s reporting and security requirements1.
• Identify Responsible Users for Controls/Risks: Establish who will be responsible for the creation and ongoing management of controls and risks within the system. This ensures that there is accountability and that these elements are kept up-to-date with the organization’s needs2.

References: For the official and verified answer, please refer to the Oracle Risk Management documentation on their website, specifically the sections discussing post go-live activities and the management of perspectives and security3142.

Once the remediation of a segregation of duties conflict is completed in Fusion Security by removing the conflicting access from the users, the status of the incident in Advanced Access Controls (AAC) should be set to “Resolved”. This indicates that the necessary actions have been taken to address the incident and no further immediate action is required. The “Resolved” status is used to signify that the incident has been dealt with and the conflict has been eliminated.

References:The information is verified and aligned with the Oracle Risk Management documentation, which details the incident statuses and states within the AAC1.

• The assessor navigates to the Manage Assessments page.
• They select the assessment that they have previously submitted.
• They click the Reopen button to reopen the assessment.
• The assessor can then attach the critical test evidence document that was initially forgotten.
• After attaching the document, the assessor can resubmit the assessment for review.

References:The steps are based on the Oracle Risk Management documentation which outlines the process for managing assessments, including the ability to reopen an assessment to attach additional documents before resubmitting it12.

To work with records in Financial Reporting Compliance, a user must be both “eligible” and “authorized”. An eligible user who creates a record is automatically authorized as its owner. The owner can edit details of the record, including its data-security configuration. However, if the superuser’s account is created but the synchronization jobs havenot been run, they would not be able to create new Data Security Policies. This is because the synchronization jobs are likely necessary to update the system with the new user’s roles and permissions, allowing them to perform actions such as creating Data Security Policies.

References:Secure Records in Financial Reporting Compliance documentation on Oracle’s website provides detailed information on the eligibility and authorization required for users to work with records1. Additionally, the Using Financial Reporting Compliance guide further describes the process of defining business processes, identifying risks, creating controls, and assessing the validity of those objects over time2.