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AI-Driven Security, Audit, and Fraud Monitoring

Use Oracle Risk Management Cloud with embedded AI techniques to automate advanced analysis for ERP role design, segregation of duties (SoD), data privacy, and prevention of financial fraud.

Give your team more financial oversight and allowing for faster solutions to the latest compliance and process issues. Protect your company from fraud and error with advanced best practice controls and new audit rules to minimize false positives. Designed to meet the changing needs of your business over time, Oracle Risk Management Cloud delivers scope controls and advanced planning tools for evaluations across business units.

Risk Management Cloud
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Product Features

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Secure Role Design

    Speed Up ERP Implementation

  • Help ensure audit readiness by confirming optimal roles prior to going live.
  • Build Job Roles Without Inherent Risk

  • Run analysis as you configure custom roles. Avoid time-consuming user acceptance testing (UAT) issues and costly audit findings post go-live.
  • Configure Models and Start Using Results in Hours

  • Choose from more than 100 prebuilt, configurable security rules and run analysis as you configure custom roles.

Deep Access and SoD Analysis

    Automate Fine-Grain Security Analysis

  • Automate access and SoD controls to prevent fraud and access violations. Meet SOX testing requirements for ERP and SCM cloud.
  • Accelerate Security Implementation

  • Accelerate deployment of application security using a prebuilt library of access and SoD controls based on industry best practices.
  • Enforce Configured Access Controls After Go-Live

  • Leverage deployed controls for continuous monitoring of access and SoD.
  • Design New Access Controls

  • Design new access controls using a visual editor. Monitor more than 6,000 access points in Oracle ERP Cloud and Oracle SCM Cloud.

Streamlined User Access Certification

      Meet the SOX Certification Requirement

    • Certify user access to sensitive data and functions for SOX compliance using simple workflows for easy review and approval.
    • Scope Sensitive ERP Roles and Users for Approval by Process Owners

    • Approve, remove, or investigate users with high-risk access.
    • Replace Spreadsheet- and Email-Based Compliance Tasks

    • Use simple workflows to approve, remove, or investigate users with high-risk access.

Automated ERP Configuration Audit Controls

    Automate Risk-Based Change Tracking

  • Continuously monitor for ERP master data changes to detect security risks and breaches.
  • Leverage Library of Best-Practice Controls

  • Accelerate deployment by configuring prebuilt controls based on industry best practices. Configure more than 200 prebuilt controls across accounts payable, accounts receivable, and general ledger.
  • Author New Audit Rules and Algorithms

  • Design new controls using integration with more than 1,300 ERP data elements and visual editing. Model results and simulate changes to minimize false positives.

Advanced Transaction Controls

    Automate Analysis of ERP Data and Transactions

  • Analyze all ERP data across setups, users, roles, and transactions. Continuously monitor ERP processes such as accounts payable, accounts receivable, and general ledger to reduce cash leakage, errors, and violations.
  • Use AI to Detect Anomalies and Discover Emerging Risks

  • Eliminate time-consuming and error-prone manual data extraction, uncontrolled scripts, and ad hoc analysis for more reliable control monitoring.
  • Accelerate Deployment with Configurable Best Practice Controls

  • Leverage more than 100 prebuilt controls to monitor all ERP transactions.

Streamlined Internal Controls and SOX Compliance

    Connect Business Results to Risks

  • Establish and update your risk and controls matrix and control test plans and instructions.
  • Promote a Risk-Aware Culture

  • Engage process owners in risk detection, remediation, and controls assessment. Automate periodic or ad hoc control testing, risk assessments, or surveys to ensure timeliness.
  • Remediate Issues and Certify with Confidence

  • Report issues as part of the assessment flow and automatically notify issue owners and approvers. Create and update remediation plans and certify controls (for example, SOX, 302, and 404).

Enterprise Risk Assessments

    Identify Material Risks in Your Enterprise

  • Calculate inherent risk using likelihood, impact, and analysis models.
  • Evaluate and Remediate Enterprise Risks

  • Evaluate risks using context models to determine an action: accept, monitor, or treat. Perform residual risk analysis after controls are applied.
  • Schedule Risk Assessments

  • Run periodic risk assessments for analysis and evaluations.

Integrated Reporting, Dashboarding, and Exception Management

    Utilize Reporting and Dashboarding

  • Use standard built-in platform capabilities (Oracle Transactional Business Intelligence) for reporting and dashboarding.
  • Analyze, Investigate, and Prevent

  • Assign owners to drive analysis and investigation and proactively prevent incidents.
  • Efficiently Manage Exceptions

  • Manage exceptions using simple workflows and minimize manual intervention with intelligent automatic closure of conflicts.
  • Accelerate Audits and Assessments

  • Build an audit trail by linking analysis and investigations of exceptions to documented business risks for expediting assessments.
Risk Management Successes

Customer Stories

OneGlobe logo

OneGlobe is an Oracle Specialty Partner for Risk Management

 

OneGlobe

Tim Schmutzler, global practice direcor at OneGlobe, highlights the benefits of Oracle Risk Management Cloud and urges customers to make risk management a high priority while moving to the cloud.

IOFM logo

Chris Doxey of IOFM on Best Practices in Risk Management

 

Institute of Financial Management

Chris Doxey, management consultant and an Advisory Board Member of the Institute of Financial Management, speaks on risk management, financial controls, and fraud prevention and how to address these challenges using Oracle Risk Management Cloud.

Pennsylvania Treasury logo

Pennsylvania Treasury Improves Control Over Payments

 

Commonwealth of Pennsylvania

Join Timothy Reese, Treasurer, Commonwealth of Pennsylvania, to learn how they use Oracle Advanced Controls Technology to scrutinize and review over 20 million payments annually, thereby ensuring that the payments made were both lawful and correct.

Skechers logo

Skechers Transforms Internal Audit to Support Global Growth

 

Skechers

Skechers has been able to comply and mitigate risk across its global business through the use of Oracle Risk Management Cloud.

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Oracle Risk Management Cloud

user/month1

  • Secure role design
  • Advanced access and segregation of duties (SoD) controls
  • User access certifications
  • Advanced configuration audit controls
  • Advanced transaction controls
  • Enterprise risk management2
  • Financial reporting compliance2

Oracle Financial Reporting Compliance Cloud

user/month3

  • Risk and control documentation
  • Control assessments automation
  • Issue resolution
  • Compliance certification
  • Risk and compliance surveys

Oracle Risk Management Cloud—Hosted Employee

employee/month4

  • Secure role design
  • Advanced access and segregation of duties (SoD) controls
  • User access certifications
  • Advanced configuration audit controls
  • Advanced transaction controls
  • Enterprise risk management
  • Financial reporting compliance

Oracle Financial Reporting Compliance Cloud—Hosted Employee

employee/month5

  • Risk and control documentation
  • Control assessments automation
  • Issue resolution
  • Compliance certification
  • Risk and compliance surveys
  1. Requires Oracle ERP Cloud or Oracle Procurement Cloud. The minimum number of users is the sum of Oracle Financials Cloud and Oracle Procurement Cloud users.
  2. A limited-use subscription (10 users) is included. Additional users can be added by subscribing to Oracle Financial Reporting Compliance Cloud.
  3. Requires a minimum of 10 users.
  4. Requires Oracle ERP Cloud—Hosted Employee or Oracle Procurement Cloud—Hosted Employee. The minimum number of users is equal to the number of employees for Oracle ERP Cloud—Hosted Employee or Oracle Procurement Cloud—Hosted Employee subscription.
  5. Requires a minimum of 1,000 employees.