RTM collect job could not be scheduled -> SQL Monitor activation canceled

What causes this issue?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

SQL Monitor requires Runtime Monitor (RTM) Features. When activating SQL
Monitor, a job has to be scheduled by the system, that collects RTM data
from shared memory areas to database.
Your user seems does not seem to have the right authorizations for a
background job schedule.

How to fix this error?

Check transaction SU53 for failed authorization checks and/or contact
your system administrator for enhancement of your authorization profile.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.