Western University is offering up to four fully funded PhD positions in the areas of climate risk and banking analytics, with a focus on incorporating climate variables into financial risk assessment and developing advanced machine learning models for credit risk. The research will leverage alternative data sources, econometric models, deep learning, and stochastic control techniques to address challenges in financial risk management, credit risk, and financial stability. Projects are conducted in partnership with major banks, pension funds, data vendors, and regulatory bodies, providing students with direct industry access and unique datasets.

The successful candidates will work at the intersection of statistics, applied mathematics, computer science, economics, and finance, developing new analytical and computational frameworks for risk assessment. Research topics include network-based stress testing, robust optimization, individualized pricing strategies, and the integration of climate scenario projections into financial models. The program is designed for students with strong quantitative and programming skills, particularly in Python and modern data tools.

Applicants must have a Master's degree in a relevant field such as statistics, operations research, computer science, economics, or mathematical finance. Direct PhD entry is possible for exceptional candidates with an Honours Bachelor's degree and a high academic average. Two strong recommendation letters are required, and applicants should mention GRE scores if available. The program values diversity and encourages applications from all qualified individuals worldwide.

Funding is fully guaranteed for four years, with a minimum annual stipend of CAD $30,000, plus additional support for conferences and research travel. Funding packages may include scholarships, fellowships, and part-time employment. Tuition and ancillary fees are expected to be paid each semester, with financial support distributed throughout the term.

To apply, candidates should submit their CV, academic transcripts, and reference letters by January 31, 2026, through Western University's graduate portal. Shortlisted candidates will be invited for interviews in February 2026, and final acceptance will be determined by the Graduate Affairs Committee. For more information, applicants can visit the program and lab websites or contact the listed supervisors. One additional co-supervised position is available at the University of Southampton in the UK.

Keywords: climate risk, banking analytics, credit risk, deep learning, financial risk assessment, machine learning, econometrics, stochastic control, statistics, applied mathematics.