Investment Appraisal & Portfolio Management Analyst

About this opportunity:

Cenovus is seeking an Investment Appraisal & Portfolio Management Analyst to join the Strategy & Corporate Planning team. This role supports capital allocation across Cenovus’ integrated portfolio, providing exposure to corporate finance, strategy, and transaction activity while working with senior leaders across the organization. The Analyst will develop financial models and corporate impact analysis for capital projects, commercial commitments, GHG initiatives, and acquisition and divestiture opportunities. The role will also steward the enterprise-wide corporate model through planning and forecasting cycles, while advancing automation to improve efficiency and data integrity.

The successful candidate will deliver scenario analysis, independent economic reviews, and decision-ready insights for the Investment Committee, executive leadership, and Board. They will bring strong modelling capabilities, sound judgment, attention to detail, intellectual curiosity, and the ability to communicate complex analysis clearly.

What you’ll do:

• Build, maintain, and enhance financial models to evaluate capital projects, commercial and transportation commitments, GHG initiatives, and A&D opportunities across the Cenovus portfolio.
• Prepare corporate impact analysis for A&D transactions and portfolio opportunities, collaborating with stakeholders across the business.
• Steward the enterprise-wide corporate model through long-range planning and monthly forecasting cycles, including data integration, automation, and continuous improvement initiatives.
• Conduct scenario and sensitivity analysis across commodity prices, regulatory and fiscal policies, and alternative development plans to inform corporate strategy and decision-making.
• Support corporate strategy analysis, including net asset value, portfolio scenarios, and financial framework assessments.
• Develop analysis and presentation materials for senior leadership and the Board, including timely insights on emerging strategic priorities.

Who you are:

Our ideal candidate will have the following minimum requirements:

• Legally authorized to work in Canada
• Minimum 5 years of experience in financial analysis, corporate finance, corporate development, investment banking, or equity research, preferably within the oil and gas industry.
• Bachelor’s degree in Finance, Economics, Accounting, Engineering, or a related field.
• Professional designation such as CFA, CPA, or P.Eng., or progress toward a designation, is considered an asset.
• Advanced financial modelling skills, including strong proficiency in Microsoft Excel and experience developing economic and financial models.
• Knowledge of integrated oil and gas value chains, fiscal regimes, including royalties and taxation, and equity capital markets is considered an asset.
• Strong analytical and problem-solving skills, with the ability to synthesize complex information and identify key value drivers.
• Ability to translate and communicate complex analysis clearly and concisely to senior leaders.
• Ability to work independently and collaboratively across cross-functional teams, including assignments with limited guidance.
• Experience with Power BI, Databricks, Python, or other data analytics and automation tools is considered an asset.

We acknowledge the value of transferable skills and may consider equivalent combinations of experience and education should you not meet a specific requirement.

Note: The application deadline for this position is 11:59 PM MT November 4, 2026.

Cenovus was ranked one of Canada’s Best Employers in 2025. We’re committed to being an employer of choice in our industry by offering a competitive total rewards package, employee programs, and rewarding career development opportunities. Learn more.  

If you require accessibility assistance to complete the on-line application or otherwise apply for an open position with Cenovus, its subsidiaries and affiliates, please email [email protected].

Who we are:

Ranked as one of Canada’s Best Employers in 2025, Cenovus is an integrated energy company headquartered in Calgary. We’re committed to maximizing value by developing our assets in a safe, responsible and cost-efficient manner. We operate in Canada, the United States and the Asia Pacific region. Our operations include oil sands projects in northern Alberta, thermal and conventional crude oil and natural gas projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and liquids production offshore China and Indonesia. Cenovus’s downstream operations include upgrading, refining and marketing operations in Canada and the United States.

Find Cenovus on LinkedIn, Facebook and Instagram. 

The Cenovus experience

Total rewards

We’re committed to being an employer of choice through competitive compensation and our comprehensive total rewards package, including:

• Paid vacation (including a flex day program for eligible staff)
• Health & dental benefits
• Substantial mental health coverage
• Life insurance
• Disability benefits
• Employee family assistance
• Virtual healthcare coverage

Our development philosophy

We foster a culture of continuous learning and development to support employees as they build meaningful careers. We offer a variety of employee development initiatives, including:

• Internal course offerings
• Education assistance for additional development
• Opportunities to work on special projects
• Leadership development programs for emerging and established leaders

We actively promote internal job movement, recognizing the value of gaining new perspectives, building connections across teams, and applying expertise in new ways. As a fully integrated energy company, we believe that sharing knowledge across our business and operations creates stronger outcomes—for employees and for the company as a whole.

Our culture

• Our purpose: We energize the world to make people’s lives better.
• Our values:
  • Protect what matters
  • Do it right
  • Make it better
  • Do it together

• Cenovus Cares: We believe in the power of purpose-driven work. Our Employee Giving and Volunteering Program, Cenovus Cares, connects our people to our purpose, inspiring action and elevating impact year-round.
  • Support causes you care about with volunteer opportunities in and outside of work.
  • Earn donation grants while volunteering (up to $1,000 per event).
  • Receive donation matching up to $10,000 annually.

• Staff resource groups: We have various staff resource groups to help ensure our people feel a sense of belonging and can grow and do their best work. These voluntary groups are employee-led and all groups are open to all staff in all locations.

Equal opportunity employer

We believe a workplace where everyone has merit-based opportunities to grow, achieve career aspirations and feel a sense of belonging benefits our people, our company and the regions where we live and work. We embrace and encourage different perspectives and approaches, which help us make better business decisions. We believe that through this approach, we can solve challenges, seize opportunities and unlock innovative solutions.

To achieve an unbiased and respectful workplace, individuals are evaluated based on qualifications, merit and abilities, and we encourage applications from all qualified candidates. We also acknowledge the value of transferrable skills and may consider equivalent combinations of experience and education should you not meet a specific requirement.

For more information about working at Cenovus, visit cenovus.com.

The requirements of this posting may be modified to support business needs. Title and compensation administration will be based on the skills and capabilities of the successful incumbent.

Interested in this opportunity? Click the Apply link.

If you are a CURRENT EMPLOYEE, please apply by going to our Internal Career Site.