Page 37 - NovDefComp

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
Defined Benefit and Defined Contribution Recordkeeping

Investment Service Operations System

Controls Specified by MassMutual
Investment Operations Testing Performed by KPMG LLP and Results of Tests
1.6 Investment operations associates Inspected the “Percent Change Report” and "Analysis
compare fluctuations in the current day After Prices Received- Monitor" tasks in TreX and the
NAVs received from the various fund "Percent Change Report" for a selection of dates and
companies to fluctuations in the current determined that investment operations associates
day unit values in Unival for compared fluctuations in the current day NAVs received
reasonableness. Any unanticipated from the various fund companies to fluctuations in the
changes are researched and resolved current day unit values in Unival for reasonableness and
before transmitting daily unit values to that discrepancies were researched and the resolution
CaRS. The review is evidenced by documented.
documentation uploaded into the
Percent Change Reports tab and No Exceptions Noted.
management approval of the Analysis
After Prices Received- Monitor task in
TreX. (DB & DC)

1.7 NAVs are benchmarked to similar Inspected the configuration of the Unival reporting queries
market funds using the “Benchmark and determined that Unival was configured to identify
Exception Report.” Investment values that exceed a 1.5 % difference in the “Percent
operations associates review the Change” of the “Benchmark Exception Report.” In
reported exceptions and obtains addition, traced a record from the report and tied out key
backup, for the funds that fall outside a attributes to the Unival database and tied the total row
1.5 % threshold prior to transmitting the count from the Unival database to the report and
NAVs and unit values to CaRS. The determined the report was complete and accurate.
review is evidenced by documentation Inspected the “Benchmark Exception Report” and
uploaded into the Benchmark
Exception Reports Task and "Analysis After Prices Received-Analyzer" tasks in TreX
and the "Benchmark Exception Report" for a selection of
management approval of the Analysis
After Prices Received-Analyzer Task in dates and determined that an investment operations
associate investigated any discrepancies that fell outside
TreX. (DB & DC)
the 1.5% threshold prior to transmitting the values to
CaRS.
No Exceptions Noted.

MassMutual Defined Benefit and Defined Control Objectives, Related Controls and Test of
Contribution Investment Service Operations Operation Effectiveness
System
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