Diagnosis
Yes. The control board has a small backup battery to maintain clock and memory settings. It's a standard 3V CR2032 coin cell.
How to Fix It
Unplug the oven. Remove the control panel cover (two screws at top rear). Locate the main control board. The battery holder is on the board. Pop out the old CR2032 and insert a new one, positive side up. Reassemble.
If That Didn't Work
If the clock still resets with a fresh battery, the circuit on the control board that maintains the memory is damaged. The entire control board would need replacement.
Heads Up
Use a name-brand battery (Panasonic, Duracell). Cheap generic coin cells have shorter lifespans and can leak, damaging the expensive control board.