Is the virtual card statement reconciliation processed in the Cash Management module?

No, the virtual card statement reconciliation process is part of Payables.

The virtual card statement is for transactions made using a virtual card, which is currently only available for supplier invoice payments. A virtual card statement is received from the card issuer at the end of the billing cycle and the card statement is processed in Payables. This is different from a bank statement associated with payments made using a bank account, which is processed in Cash Management. Only the J.P. Morgan integration retrieves card statements automatically from the bank and ingests them into Oracle Cloud ERP.