New Release 1z0-1058-23 Oracle Risk Management Cloud Questions

• 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.

• Validate New Lookup Values: Before importing data, it’s crucial to ensure that any custom list of values, such as Control Frequency, has new lookup values created. This is necessary because the import process relies on these values to correctly map the imported data to the corresponding fields in the Oracle Risk Management system.
• Validate Worksheet IDs: It’s important to check that there are no duplicate worksheet IDs within the same worksheet. Duplicate IDs can cause conflicts and errors during the import process, leading to data corruption or loss.
• Validate System ID Column: The System ID column must be populated correctly to maintain data integrity. This column typically contains unique identifiers for records, which are used to track and manage data throughout the import process.

References:

• For the validation of new lookup values and ensuring the correct population of the System ID column, refer to the best practices outlined in the Oracle documentation on import and export management1.
• The importance of unique worksheet IDs and their validation is discussed in the Oracle Risk Management User Guide, which provides instructions on preparing data for import2.

In Oracle Risk Management, when a business owner is assigned a new role, there may be a delay before the worklist reflects this change. This is because the system needs to refresh the data to include the new role assignments in the worklist generation process. If the business owner responsible for the “Order to Cash” perspective does not see any worklists for the generated incidents, despite having the correct functional privileges and data access, it is likely due to the recent assignment of the role. The system has not yet refreshed the worklists to include the business owner’s new role, which is necessary for them to view the worklists related to the generated incidents.

References:

• Oracle Risk Management Cloud documentation on role assignments and worklist generation1.
• Oracle support documents detailing how to regenerate worklists after changes to GRC security components2.

• 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.