Monday Jun 11, 2012

Oracle at ASMC PDI 2012

Recently, I had the pleasure of representing Oracle at the American Society of Military Comptrollers National Professional Development Institute (PDI).  The PDI is the premier training event for resource managers in the Department of Defense and US Coast Guard.  Each year they assemble top presenters and key note speakers to convey their experiences and share the upcoming goals and vision for the Defense Department's financial and resource management community.

 This year, the common themes were centered around 'auditability' and 'efficiency'. 

 What is auditability?  There were many definitions/themes tossed around, but to summarize my notes, it boiled down to:
- the proper tracking of funds
- audit readiness
- proper controls
- proper documentation

There were sessions regarding entire programs focused on the need for auditability.  For example, FIAR: Financial Improvement and Audit Readiness (http://comptroller.defense.gov/fiar/index.html)   The FIAR stresses the "...improve(ment of) the Department's financial processes, controls and information."

The entire conference, one set of solutions kept popping into my head around, "how can Oracle's solutions assist the Department of Defense", or any other Federal Agency, improve their financial processes and controls?   One answer came to mind:  Oracle Governance, Risk, and Compliance Management. Commonly referred to as "GRC".

Let me summarize the main components around Oracle's GRC solution:

GRC Manager: This solution is the central repository for documenting business processes, policies, and established controls.  All identified risks and issues are documented within the repository as well as action plans necessary for mitigation.

GRC Controls:  This solution consists of a set of tools which are embedded with your ERP (financial, human resource, supply chain, etc.) applications to detect, prevent, and/or enforce the policies and procedures established by your Agency.  Components of the solution include:
- Application Access Control Governor: a robust tool for managing application roles and responsibilities; simplify segregation of duty maintenance
- Configuration Controls Governor: complete audit trail for changes made to configurations
- Transactions Control Governor: track violations of internal controls; alert management to suspicious activities; be warned when high dollar transactions are occurring on an irregular basis;
- Preventative Controls Governor: prevent sensitive information from being viewed by unauthorized parties; enforce field, block, and form change control

If you are in the financial or resource management community and are concerned about auditability within your organization I suggest you follow up this post by reading about Oracle's GRC solutions.  www.oracle.com/grc

Please feel free to follow up with thought and questions in the comments section below.  Also, if you have a topic you would like addressed in this blog, just drop me a note at jeffrey.waterman@oracle.com  or leave the suggestion in the comment section as well.

Thank you for reading.

Monday Apr 09, 2012

Announcement: Federal Financial Briefing

Dear Oracle/PeopleSoft Federal Financial Management Customers: Oracle is pleased to announce that we will conduct the next Federal Financial Management Briefing on Tuesday, April 17th from 8:30 am until 2:00 pm at the Oracle Campus in Reston, Virginia. The Registration Link and Agenda can be found at the web site below:

Federal Financial Briefing: Register Here

Directions to Oracle Reston: From the Beltway take the Dulles Toll Road (Route 267 West). Do not get on the Dulles Access Road or you will not be able to exit until you get to the airport. Take the Reston Parkway Exit (Exit 12). At the end of the exit ramp, turn right onto Reston Parkway. Make your first right onto Sunset Hills Road. Take a Right turn onto Oracle Way and park in Visitor Parking. The receptionist will direct you to the CAB.

About

The author, Jeff Waterman, has been with Oracle since 1996 in various roles, but always working to apply Oracle Application solutions assist the US Federal Government with fulfilling its mission to its citizens. Presently, he serves as a Master Principal Applications Sales Engineer within North America Public Sector.

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