Shared Services Administration: Error: Access is Denied

This has come up a few times for me, so I'm documenting this mostly for myself. Sometimes, clicking on the SharedServices1 link results in:

Error: Access Denied Current User You are currently signed in as: MOSSERVER\AdminLogin

Surprisingly, I was using a domain admin account and still ran into this error. According to the MSDN forums, the resolution is as follows:

Central Administration >> Application Management >> Policy for Web Application >> Add Users >> Select the Web Application (All Zones) >> Web Application >> (Add the user) >> Full Control >> Finish

Additionally, you may also need to perform the following once you have permissions: SharedServices1 >> "User Profiles and My Sites" >> "Personalization Services Permissions" (Thanks, James!)