Page 114 - 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

6.11 (Continued) Accounting Additional Testing Performed by KPMG LLP:
operations associates review Inspected management’s lookback documentation from
individual wires and the total ACH
batches daily for disbursements 10/1/2019-12/31/2019 and determined that management
identified 59 reconciliations that were not independently quality
processed on CAS to TCC.
Adjustments to the batch totals reviewed. For the 59 reconciliations, inspected the LAN folder
containing management’s supporting evidence and retroactive
and discrepancies are
researched and resolved in a review and determined whether the quality review was
completed. For a selection of 5 of the 59 reconciliations, KPMG
timely manner. The verification is
evidenced by the reconciliation reperformed the applicable steps on the checklist and inspected
the retroactive review to determine that the reconciliation had
calculation and by sign-off on the
on the “GA Daily Cash Suspense been completed and the review was documented on the
checklist.
Disbursement Report” sections
pertaining to ACH and wires. In
addition, sign-off is also indicated
on the “GA Cashbook
Reconciliation & Disbursements
Checklist.” An independent team
member performs a quality
review evidenced in an oversight
section of the same checklist.
(DB)

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