The Banking Analytics Lab at Western University invites applications for two fully funded PhD positions in credit risk modelling, financial stability, and advanced machine learning). In addition, we invite applications for up to two fully funded PhD positions focusing on climate risk. These research projects aim to develop rigorous and objective methods to improve credit risk management and financial risk assessment. The research will leverage alternative data sources, network-based stress testing frameworks, advanced deep learning methods, large-scale models, and robust optimization techniques. Within this framework, the research will also address how multiple sources of risk, including climate risks, can be incorporated into credit risk and financial stability analysis across economic sectors, with applications in banking, finance, and regulation.

Position Details:

• Full funding guaranteed for four years.
• Annual stipend of CAD$30,000.
• Direct collaboration opportunities with major banks, pension funds, data vendors, and regulatory bodies.
• Access to unique datasets and computing resources, plus annual funds for travelling and expenses.

The Successful Candidates Will

• Conduct research using advanced deep learning methods and large-scale models to address key challenges in credit risk management, including the assessment of alternative data value, risk propagation and financial contagion in payment networks, individualized pricing strategies, and robust optimization under portfolio level shocks.
• Develop deep learning models and network-based stress testing tools to assess how such events impact credit risk and financial stability, using real nationwide microentrepreneur data in a partnership with leading financial institution.
• Develop new analytical and computational frameworks that explicitly integrate climate scenario projections related to economic transition and physical shocks into financial risk assessment for institutional investing and regulatory stress testing.
• Work at the intersection of applied probability, econometrics, machine learning, statistics, stochastic control and banking using real, challenging datasets to solve problems at the forefront of modern banking and climate risk modelling.
• Contribute to both academic research and practical applications.
• Engage with industry partners and regulatory bodies.

Required Qualifications:

• Master’s degree in statistics, operations research, computer science, economics, applied mathematics, or related fields for PhD positions in banking analytics.
• Master’s degree in mathematical finance, statistics, operations research, economics, or related fields for PhD positions in climate risk.
• Strong quantitative and programming skills. Python programming and knowledge of modern methods (pytorch, polars, spark, arrow, duckdb) is a strong plus.
• Excellent written and verbal communication abilities.
• Demonstrated interest in banking, financial, or mathematical finance applications.

Application Process:

1. Submit your CV, academic transcripts and reference letters by January 31^st, 2026 on Western’s graduate portal: https://grad.uwo.ca/admissions/apply.html. Please mention your GRE scores, if available. More information available here: https://www.uwo.ca/stats/graduate/phd-program.html
2. Shortlisted candidates will be invited for interviews in February 2026.
3. Final acceptance will be determined by the Graduate Affairs Committee.

 

For more information on positions in banking analytics, please contact Cristián Bravo at cbravoro@uwo.ca, and for positions in climate risk, please contact Ankush Agarwal at aagarw93@uwo.ca

One final, co-supervised, position is available in the UK, please see for this opportunity here with The University of Southampton.

The Banking Analytics Lab values diversity and encourages applications from all qualified individuals, including women, members of visible minorities, Indigenous peoples, and persons with disabilities. This position is available to anyone, worldwide.