Page 103 - NovDefComp

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
Defined Benefit and Defined Contribution

Recordkeeping Operations System

Controls Specified by
MassMutual Business Testing Performed by KPMG LLP and Results of Tests

5.12 (Continued) Accounting Additional Testing Performed by KPMG LLP:
operations associates review Inspected management’s lookback documentation from
supporting documentation for
individual payments over 10/1/2019-12/31/2019 and determined that management
identified 59 reconciliations that were not independently quality
$500,000 to determine that
disbursements were processed reviewed. For the 59 reconciliations, inspected the LAN folder
containing management’s supporting evidence and retroactive
completely and accurately. The
review is evidenced by an review and determined whether the quality review was
completed. For a selection of 5 of the 59 reconciliations, KPMG
approval email and sign-off on
the “GA & MR Cashbook reperformed the applicable steps on the checklist and inspected
the retroactive review to determine that the reconciliation had
Reconciliation & Disbursements
Checklists.” An independent been completed and the review was documented on the
checklist.
MassMutual team member
performs a quality review
evidenced in an oversight section
of the same checklists to ensure
the reconciliation was complete
and accurate. (DC)

5.13 Accounting operations Inspected verification documentation for the disbursements
associates reconciles the total processed on PRS and CAS to the “Check Reconciliation
number and dollar amount of Control Report” provided by Corporate Output Services/Exela
checks reported on the “GA & MR for a selection of dates and determined that an accounting
Daily Cash Suspense Reports” operations associate verified the total number of checks and
for disbursements processed on dollar amounts reported on the “GA & MR Daily Cash Suspense
PRS to the “Check Reconciliation Reports” as evidenced by the reconciliation calculation and
Control Report” provided by sign-off on the “Check Reconciliation Control Report.”
Corporate Output Services/Exela
(1/14/2020). Discrepancies are No Exceptions Noted.
researched and resolved in a
timely manner. The verification is
evidenced by the reconciliation
calculation and by sign-off on the
“Check Reconciliation Control
Report.” (DC)

MassMutual Defined Benefit and Defined Control Objectives, Related Controls and Tests of
Contribution Recordkeeping Operations System Operating Effectiveness
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