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

• Identify the organizations or business units: This involves determining the specific parts of the organization where the new controls will be applied. It is crucial to understand the scope of the controls within the organizational structure to ensure that the appropriate levels of review and approval are established.
• Identify users who will perform control review and approval: After defining the scope, the next step is to specify the individuals who will be responsible for reviewingand approving the controls. This includes assigning users to the roles that will have the authority to review and approve the controls at each required level.

References:The information provided is based on the Oracle Risk Management documentation, which outlines the processes for setting up approvals within the system123. These references detail the necessary steps and considerations for managing approvals and ensuring proper control within the Oracle Risk Management framework.

• In Oracle Risk Management Cloud, risks need to be in an “approved” state before you can associate controls with them. This ensures that only vetted and acknowledged risks are managed with corresponding controls.
• While the Data Migration tool is typically used for importing data from external sources, it is not designed for mapping controls to risks. Instead, controls are usually added manually within the system.
• After controls are defined, they can be related to the approved risks manually, ensuring that each risk is paired with appropriate control measures.

• For an incident to be automatically assigned a status of “Closed,” it must be resolved within the Fusion Cloud system. This is confirmed by a subsequent evaluation of controls that verifies the incident no longer exists.
• Similarly, if the incident is resolved using simulation within Advanced Access Controls (AAC), and a subsequent evaluation confirms the absence of the incident, it will also be automatically closed.

References:The information is based on Oracle’s documentation, which states that the actual resolution of incidents occurs outside of Oracle Fusion Cloud Advanced Controls. For example, resolving a purchase order in the Financials application or revising role assignments due to a separation-of-duties conflict can lead to the closure of an incident1. Additionally, closed incidents that are reopened through a request in Advanced Access Requests are assigned the Accepted status, indicating that the closure of incidents is tied to their resolution1.

1: Incident Status and State - Oracle Documentation

To meet the segregation of duties requirements in Oracle Advanced Access Controls, you would:

• Construct two separate models to represent the two segregation of duties requirements.
• For the first requirement, create a model with condition filters that identify users who have access to both supplier creation pages and invoice pages. This model will help ensure that a user can access either one of these functions but not both.
• For the second requirement, create another model with condition filters that identify users who have access to both invoice creation pages and payment creation pages. Similarly, this model will enforce that a user can access either one of these functions but not both.
• Deploy controls based on these models to continuously monitor for and prevent violations of the segregation of duties as defined.

By creating two models and corresponding controls, you can effectively enforce the segregation of duties requirements, ensuring that users have access to only one of the critical functions in each pair, thereby mitigating the risk of fraud or error.

References:The approach for enforcing segregation of duties using Oracle Advanced Access Controls is supported by Oracle documentation, which outlines the creation and use of models and controls to regulate user access and prevent conflicts123.

• On the Manage Issues page within Oracle Risk Management, users have the ability to link various related objects to an issue.
• The objects that can be associated with an issue include Assessments, Risks, and Controls.
• This association is crucial for maintaining a comprehensive view of the risk landscape and ensuring that all relevant factors are considered during the issue management process.

References:The information is based on the Oracle Risk Management Cloud documentation which details enhancements to reporting issues, remediation plans, and related objects1. Additionally, discussions on the Oracle community forums confirm that related objects such as processes can be viewed but are not directly related on the Risk Definition Page, indicating that the primary related objects are indeed Assessments, Risks, and Controls2.

This filter would allow the model to compare the dates of the invoice and the credit card transaction to ensure they are within a reasonable time frame of each other, which is indicative of a duplicate charge. A similarity within +/- 10 days is a common practice to account for processing delays while still capturing potential duplicates.

References: For the most accurate and detailed explanation, please refer to the Oracle Risk Management documentation on the Oracle site, specifically the sections that discuss building transaction models and setting up filters for identifying duplicate charges.

Please note that this is a logical deduction based on the information provided and not a verified answer from the official Oracle documentation. For a verified answer, you should consult the Oracle Risk Management documents directly.