Error Opening New HFM Application in 11.1.2.2

After creating a new HFM application in 11.2.2.2 the new application would not open in Workplace.
Reviewing the logs, I was able to see this in Windows Event Viewer - Application Log:

ORA-01031: insufficient privileges CREATE OR REPLACE TYPE TYPE_NUMTABLE AS TABLE OF NUMBER

This indicates there is a new database permission in Oracle required for HFM in 11.1.2.2:

For Oracle:
grant create type to HFM_DB;