Risk Management

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    Barry Greenhut
    OpenWorld 2016 - Risk Management
    Topic posted January 9, 2017 by Barry GreenhutBronze Medal: 1,250+ Points, last edited January 9, 2017, tagged Advanced Controls, Compliance, Financial Reporting Compliance, GRC, Risk Management, Sarbanes Oxley, Separation of Duties, SOX 
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    Title:
    OpenWorld 2016 - Risk Management
    Summary:
    Learn from fellow subscribers and experts
    Content:

    Learn about Risk Management from fellow subscribers and risk management experts:

    General Session:

    • Watch video highlight: Corey West, Chief Accounting Officer, Oracle, discussed the value of Risk Management Cloud Services and ERP Cloud to streamline risk, security and compliance.
    • Watch video highlight: Tim Reese, Treasurer, State of Pennsylvania, explained how Oracle's Advanced Controls technology prevents incorrect payments - for savings of $65 million annually.
    • View full session presentation: In addition to Mr. West and Mr. Reese, Brian Jensen, Director at KPMG, explained the latest trends in ERP Cloud security and controls. The session also included product updates & plans.

    Introducing Oracle Financial Reporting Compliance Cloud Service
    Michael Mann of Caesars Entertainment & Adil Khan of FulcrumWay spoke about the business case for Financial Reporting Compliance. Michael spoke from an executive & practitioner point of view about Caesars ambitious financial transformation and motivations for subscribing to Risk Cloud. As a domain expert & implementation partner, Adil provided relevant trends and anecdotes from around the world. Both agreed that progressive organizations recognize strong internal controls as a management best practice, and are updating their financial reporting compliance tools to automate labor intensive compliance tasks.

    Introducing Oracle Advanced Financial Controls Cloud Service
    Mark Stebelton, Director of Product Management for Oracle’s Risk Management Cloud Services, Kent Spaulding, Oracle Software Architect, and Stephen D’Arcy, Director PwC introduced Oracle’s upcoming Cloud Service for automating transaction monitoring: Advanced Financial Controls. They discussed the underlying award-winning analytical engine, and highlighted high-value use cases, key metrics, thought leadership and anecdotal lessons learned from clients who automate transaction monitoring.

    Introducing Oracle Fusion Advanced Access Controls to Strengthen Security
    Our audience got their first look at our upcoming cloud service to continually detect and manage unwanted user access in Oracle ERP, HCM & SCM Clouds - e.g., separation of duties (SoD) and access to sensitive data and functionality. They learned about application security and control best practices from KPMG's Director of Advisory Services, Nick Seeman, and Service Corporation International's Chief Audit Executive, Katrina Johnson. They also gained insight into using this new cloud service to streamline ERP/HCM/SCM role design and access policies, and improve access controls for Sarbanes Oxley (SOX) and comparable regulations, from Oracle Product Development's Mark Stebelton and Barry Greenhut.

    Implement the Best Practice for Oracle Financial Reporting Compliance Cloud
    This session showed how to streamline internal controls processes, configure our Financial Reporting Compliance cloud service to automate some of the most difficult and time-consuming parts of the processes, and achieve fastest implementation, minimum effort, and maximum return on investment. It also shared field-proven best practice ideas. The presenters were Oracle Consulting's Managing Practice Lead, Swarnali Bag, and Oracle Product Development's process/solution designers Lakshmi Rajamohan and Barry Greenhut.

    Implement the Best Practice for Oracle Fusion Advanced Financial Controls Cloud Service
    Attendees got advice on optimizing payable and expense processes and achieving effective control from industry expert Chris Doxey and Oracle Consulting's Managing Practice Lead, Swarnali Bag. Then they learned how to automate identification of transactions that indicate fraud, error and policy violation; configure our upcoming Advanced Financial Controls cloud service to analyze and manage those transactions; and achieve fastest implementation, minimum effort, and maximum return on investment from Oracle Product Development's process/solution designers Sujay Bandyopadhyay and Barry Greenhut.

    Get Started with Financial Reporting Compliance and Advanced Financial Controls
    This session introduced Oracle’s step-by-step approach for getting started with Risk Management Cloud, based on over a decade of first-hand experience with hundreds of application risk management implementations. It included dozens of best practice ideas for planning, implementing and sustaining your solution from Oracle Global Customer Success Program's Joel Alvarado, Oracle Support's Abimani Peiris, and Oracle Product Development's Lakshmi Rajamohan, Sujay Bandyopadhyay and Barry Greenhut.

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