System and method for reconciliation of electronic data processes

A computer-implemented method for assessing a risk level for accounts, comprising:

• receiving account data for each of the accounts, the account data including a reconciliation status and a balance value for each account;
• for each of the accounts:
• assigning risk criteria scores for a plurality of risk criteria, based at least in part on one or more of reconciliation status and balance value for the account;
• and
• determining a composite risk score for the account based on a weighted summation of a selection of the risk criteria scores for the account;
• generating a density distribution of the composite risk scores for an audit population of the accounts;
• determining quantiles for the density distribution;
• identifying thresholds based at least in part on the quantiles of the density distribution;
• and
• assigning a risk rating to each of the accounts in the audit population based at least in part on the composite risk score for that account as compared to the thresholds.