Page 115 - 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

6.12 Fulfillment reconciles Inspected the “Check Reconciliation Control Report” for a
disbursements processed in selection of days and determined that Fulfillment verified daily
PAS. The number of checks the disbursements processed in PAS with the number of checks
produced is verified daily to the produced as indicated on the “Check Reconciliation Control
number on the “Check Report” and that discrepancies were researched, and
Reconciliation Control Report” resolutions documented. Verification was evidenced by sign-off
and discrepancies are on the “Check Reconciliation Control Report.”
researched and resolved. The Inspected the “NPAPCK1 Control Report” for a selection of days
verification is evidenced by sign-
off on the “Check Reconciliation and compared it to the “Check Reconciliation Control Report”
and determined that discrepancies were researched, and
Control Report.”
resolutions documented with verification evidenced by sign-off
Accounting operations associates on the “NPAPCK1 Control Report.”
verify the total number and dollar
amount of checks reported on the Additionally, inspected the oversight section of the “PAS
Cashbook Reconciliation Checklist” and source documentation
“NPAPCK1 Control Report” to the
“Check Reconciliation Control and determined that a quality review of the reconciliation was
performed completely and accurately by an independent team
Report.” Discrepancies are
researched and resolved. The member.
verification is evidenced by sign- No Exceptions Noted.
off on the “NPAPCK1 Control
Report. “In addition, sign-off is
also indicated on the “PAS
Cashbook Reconciliation
Checklist.” An independent team
member performs a quality
review evidenced in an oversight
section of the same checklist to
ensure the reconciliation was
complete and accurate. (DB)

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