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#OOW16 - Risk Management Cloud / GRC General Session

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#OOW16 - Risk Management Cloud / GRC General Session

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The Risk Mgmt. (GRC) Cloud general session had some great speakers. The Treasurer of Pennsylvania, Tim Reese, spoke about how his department uses Advanced Controls technology to help identify $65M in erroneous payments annually. Corey West, EVP and Chief Accounting Officer of Oracle Corporation, explained why deploying the Risk and Financials Cloud at the same time is very important for Oracle. Brian Jensen, Director at KPMG, explained the latest trends in ERP Cloud security and controls. The session also included product updates & plans. Session presentation attached.

The Risk Mgmt. (GRC) Cloud general session had some great speakers. The Treasurer of Pennsylvania, Tim Reese, spoke about how his department uses Advanced Controls technology to help identify $65M in erroneous payments annually. Corey West, EVP and Chief Accounting Officer of Oracle Corporation, explained why deploying the Risk and Financials Cloud at the same time is very important for Oracle. Brian Jensen, Director at KPMG, explained the latest trends in ERP Cloud security and controls. The session also included product updates & plans. Session presentation attached.

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#OOW16 - Risk Management Cloud / GRC General Session

  1. 1. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Risk Management Cloud General Session Timothy Reese, Commonwealth of Pennsylvania Brian Jensen, KPMG Corey West, Oracle Sid Sinha, Oracle September 20, 2016
  2. 2. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Safe Harbor Statement The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle. 2
  3. 3. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Agenda Introductions Risk Management Cloud Update Panelist Q&A Wrap-up 1 2 3 4 3
  4. 4. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Introduction Timothy Reese Tim Reese became the 37th Treasurer of the Commonwealth of Pennsylvania on June 26, 2015. His powers and duties involve the receipt and disbursement of funds, as well as the deposit, investment, and safekeeping of monies and securities belonging to the Commonwealth. Treasurer Reese serves as custodian of the funds for virtually all state agencies. As Treasurer, he is focused on revitalizing and strengthening the Department and leveraging its assets and expertise to positively impact Pennsylvania’s economy. Prior to his appointment, Treasurer Reese ran multiple special situation investment firms that co-invested in the health care, pharmaceutical, and information technology sectors. 4
  5. 5. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Introduction Corey West Corey West was appointed corporate controller and chief accounting officer of Oracle Corporation in April 2007, with responsibility for global financial and SEC reporting, management reporting, revenue recognition, technical accounting, and merger and acquisition financial due diligence, among other duties. He was promoted to Oracle Executive Vice President in 2015, and now leads a team of 2,100 finance professionals operating in nine global finance shared services around the world. 5
  6. 6. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Introduction Brian Jensen Director in KPMG’s Oracle Practice focused on Strategy, Operations and Oracle Risk Consulting, with more than 20 years of management consulting and business development experience. A subject matter professional across multiple functions and industries, Brian has worked with dozens of C-level executives and directors as a trusted advisor, designing operational and risk management strategies using Oracle technology to help them achieve their strategic business objectives. Brian has extensive experience leading and implementing ERP, Identity Management & Security & Controls solutions at over 50 customers over the last 20 years. Brian is a thought leader for KPMG in their GRC group, spearheading many initiatives for Oracle Enterprise Solutions. 6
  7. 7. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Effective Risk Management 7 Strengthen Internal Controls Enforce Financial Reporting Integrity Prevent Unauthorized Access Monitor Access to Sensitive Data Automate Detection of Error, Fraud & Waste CFOs & Controllers CIOs & CISOs Auditors RISK MANAGEMENT CLOUD
  8. 8. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Integrated Risk & Compliance for ERP Cloud 1 2 Streamline risk processes to promote collaboration, transparency and accountability Early detection of potential issues through automated data collection and analysis 3 Rapid Deployment with Best Practice, Pre-built Controls designed for targeted risk areas Risk & Compliance Management Documentation Reviews Assessments Issues Advanced Controls Monitoring Audit Analytics User-Defined Algorithms Visualization & Simulation Library of Best Practice Controls Procure-to-Pay Transactions Expense Policies Assess (SoD) Rules 8
  9. 9. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Pareto Analysis Clustering Fuzzy Matching Anomaly detection Automate Data Analysis to Detect Issues Early Confidential – Oracle Internal/Restricted/Highly Restricted Security & Transaction Data Enterprise Data Graph GRCOntologyBasedPolicyEngine SemanticReasoningPatternReasoning Data Analysis Engine GraphicalAuthoringWorkbench LibraryofUserDefinedControls Incidents SELF-LEARNING FEEDBACK LOOP 9 Benford Analysis Algorithms Workbench
  10. 10. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Cloud Services 10 Advanced Access Controls (R13) Restrict Unauthorized Access & SoD Violations Advanced Financial Controls (R12) Protect Against Fraud, Error and Policy Violations Financial Reporting Compliance (R11) Streamline Internal Controls Processes Risk Management Cloud
  11. 11. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Financial Reporting Compliance Cloud Service Streamline Internal Controls Processes Complete Assessments Remediate & Certify Controls Document Risks & Controls Matrix Define & Review Audit Test Plans Enforce Manual Controls 11
  12. 12. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Advanced Financial Controls Cloud Service Protect Against Fraud, Error and Policy Violations Manage Exceptions Continuous Monitoring Configure Best Practice Controls Author New Audit Rules & Algorithms 12 Link Results to Business RisksLink Results to Business Risks Stop High Risk Transactions  Identical Expenses  Split Purchase Orders  Duplicate Invoices  Unusual Invoice Amt.  Unauthorized Spend  Blocked Suppliers  User Creates Supplier & Pays invoice
  13. 13. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Advanced Access Controls Cloud Service Restrict Unauthorized Access & Automate SoD Analysis Manage Exceptions & Simulate Changes Link Results to Business Risks Automate User Security Analysis Deploy Pre-Built SoD Controls Author New Access Rules & Policies 13
  14. 14. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Risk Management Cloud Customers ….and more! 14
  15. 15. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Agenda Introductions Risk Management Cloud Update Panelist Q&A Wrap-up 1 2 3 4 15
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  18. 18. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. |Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Finance @Oracle Public Company (NYSE : ORCL) Presence in more than 145 countries Revenue : $ 38 Billion (FY16) Over 420,000 customers 18
  19. 19. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. |Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Drivers: Moving to the Cloud Modern User Experience Built-in Analytics and Collaboration More Innovation Lower Costs 19
  20. 20. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. |Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Cloud Plans @ Oracle Deploy Risk Cloud concurrently with ERP Cloud Services Risk Cloud Services are a part of the ERP Cloud (common instance) Deploy Foundation, Setups & Data Repository Financial Reporting Compliance Cloud Service Automate User Access / SOD Analysis Advanced Access Controls Cloud Service Automate Expense Data Analysis Advanced Financial Controls Cloud Service 20
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  22. 22. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 22
  23. 23. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 23
  24. 24. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 24
  25. 25. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 25
  26. 26. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 26
  27. 27. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 27
  28. 28. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 28
  29. 29. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 29
  30. 30. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Agenda 30 Introductions Risk Management Cloud Update Panelist Q&A Wrap-up 1 2 3 4
  31. 31. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | DEMOgrounds Moscone West Level 3 Lobby (M,T,W) ERP Showcase Workstation WEP-020 31
  32. 32. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Tuesday GENERAL SESSION Sep 20, 12:15 PM – 1:00PM | Moscone West 3005 Oracle Risk Management Cloud – Strategy Roadmap [GEN7198] Sid Sinha, Head of Product, Oracle Risk Management Cloud Corey West, Oracle EVP Corporate Controller and Chief Accounting Officer, Oracle Brian Jensen, Director, KPMG LLP Timothy Reese, Pennsylvania State Treasurer, Commonwealth of Pennsylvania This general session provides the latest update on the product strategy, release roadmap, and best practices for Oracle Risk Management Cloud. PANEL SESSION Sep 20, 4:00 PM – 4:45 PM | Moscone West 3005 Introducing Oracle Financial Reporting Compliance Cloud [CON7293] Aman Desouza, Director, Risk Cloud Strategy, Oracle Adil Khan, Managing Director, FulcrumWay, Michael Mann, Director, Caesars Entertainment This session provides an overview of Oracle Financial Reporting Compliance Cloud and how it automates certifications, assessments, and related manual tasks for regulations such as Sarbanes-Oxley Act. It includes a guided tour of the product, the features and benefits, and describes how audit teams can transform compliance with automation using this unique risk management service. PANEL SESSION Sep 20, 5:15 PM = 6:00 PM | Moscone West 3005 Introducing Advanced Financial Controls to Audit Expenses & Accounts Payable [CON7291] Kent Spaulding, Software Architect, Oracle Dane Roberts, Principal Product Strategy Manager, Oracle Mark Stebelton, Director, Product Management, Oracle Stephen D’Arcy, Director, PwC This session provides an overview of Oracle Fusion Advanced Financial Controls Cloud Service to continuously audit expenses, accounts payable, and other sensitive financial transactions. It includes a product tour, features and benefits and shows how expense managers, controllers, and auditors can use advanced data analysis to prevent fraud and error and ensure compliance with policy . 32
  33. 33. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Wednesday CUSTOMER CASE STUDY Sep 21, 11:00 AM – 11:45 AM| Moscone West 3005 Securing ERP: Application Compliance and Controls Implementation [CAS7689] Gautham Ramkumar: Director, Advisory Services, KMPG LLP Chuck Devore, Director, Finance Transformation, ADM Kenneth Kobia, Risk & Controls Lead, Archer Daniels Midland Organizations have successfully transformed their business operations by leveraging Oracle ERP technologies. Yet they continue to struggle to balance the two divergent needs of empowering ERP business users, while protecting sensitive data and transactions. In this session KPMG and Archer Daniels Midland detail how they took advantage of Oracle’s ERP security and controls capabilities, to support ADM’s initiative to deploy Oracle ERP . PANEL SEESION Sep 21, 1:30 PM – 2:15PM | Moscone West 3005 Introducing Oracle Fusion Advanced Access Controls to Strengthen Security [CON7290] Katrina Johnson, VP Risk Assurance, Service Corp International Nicholas Seeman, Director, Advisory Services, KMPG LLP Barry Greenhut, Director, Product Strategy, Oracle Mark Stebelton, Director, Product Management, Oracle This session provides an overview of Oracle Fusion Advanced Access Controls to continuously detect segregation of duties violations, manage exceptions, and fix unauthorized access to sensitive functions and data. Compliance managers and auditors can use Oracle Fusion Advanced Access Controls to ensure strong access controls across ERP, HCM and SCM cloud applications. PANEL SESSION Sep 21, 4:15 PM – 5:00 PM | Moscone West 3005 Implement the Best Practice for Oracle Financial Reporting Compliance Cloud [CON7291] Swarnali Bag, Governance, Risk & Compliance Practice Lead, Oracle Barry Greenhut, Director, Product Strategy , Oracle Lakshmi Rajamohan, Principal Product Strategy Mgr., Oracle Mark Stebelton, Director, Product Management, Oracle This session provides a more detailed walkthrough of Oracle Financial Reporting Compliance from an end user’s perspective, and highlights how the product can be configured to automate the best practice process. Based on learning from a decade of customer experience, it showcases the shortest and most cost-effective path to go live and streamline operations. 33
  34. 34. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Thursday PANEL SESSION Sep 22, 9:30 AM – 10:15 AM| Moscone West 3005 Implement the Best Practice for Oracle Fusion Advanced Financial Controls Cloud Service [CAS7286] Swarnali Bag, Governance, Risk & Compliance Practice Lead, Oracle Barry Greenhut, Director, Product Strategy, Oracle Christine Doxey, Owner or Partner, “Doxey, Inc” Lakshmi Rajamohan, Principal Product Strategy Manager, Oracle Mark Stebelton, Director, Product Management, Oracle This session provides a detailed walkthrough of Oracle Fusion Financial Controls Cloud Service from an end user’s perspective, and highlights how the product can be configured to automate best practice controls. Oracle Fusion Advanced Financial Controls Cloud Service is designed to meet the common needs of Oracle Financials Cloud subscribers. Based on learning from a decade of customer experience, this session showcases Oracle’s best practice business process for maximum ROI with minimum cost of ongoing operation. PANEL SESSION Sep 22, 12:00 PM – 12:45 PM | Moscone West 3005 Get Started with Financial Reporting Compliance and Advanced Financial Controls [CON7284] Barry Greenhut, Director, Product Strategy, Oracle Lakshmi Rajamohan, Principal Product Strategy Manager, Oracle Joel Alvarado, Customer Success Manager, Oracle This session provides you with the most effective project plan to implement Oracle Financial Reporting Compliance or Oracle Fusion Advanced Financial Controls Cloud Service. Participants will learn the shortest and most cost-effective path to success using Oracle’s customer and partner-tested “get started” process. Learn how to plan and adopt these cloud services, and then sustain your use through growth and change. Learn how to get the experience and expertise needed to succeed. 34
  35. 35. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | Go-To Partners Success requires experience and expertise – get both from our Go-To Partners: • Guide process owners & participants through adoption of Best Practice Processes • Configure software for effective long-term success: Minimum cost of operation, Maximum flexibility to adapt to change To learn more and get connected, contact your Oracle Success Manager Current Go-To Partners: KPMG USA, Oracle Consulting USA, FulcrumWay, OneGlobe, PricewaterhouseCoopers USA 35
  36. 36. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 3636 Join our LinkedIn Group For the latest Updates and Presentations .
  37. 37. Copyright © 2016, Oracle and/or its affiliates. All rights reserved.Copyright © 2016, Oracle and/or its affiliates. All rights reserved. |  For subscribers and partners To Learn More Cloud Portal Release Readiness User Documentation Modern Best Practice Oracle University Success Managers  Get Started  Customer Connect  37
  38. 38. Copyright © 2016, Oracle and/or its affiliates. All rights reserved. | 38

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