Worker Type: Employee Job Post End Date: 11/05/2026

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.

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.

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.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.

Ability to translate and communicate complex analysis clearly and concisely to senior leaders.

Experience with Power BI, Databricks, Python, or other data analytics and automation tools is considered an asset.

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.



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.

Paid vacation (including a flex day program for eligible staff)

Health & dental benefits

Substantial mental health coverage

Life insurance

Disability benefits

Virtual healthcare coverage

Opportunities to work on special projects

We actively promote internal job movement, recognizing the value of gaining current 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 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).

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.

We embrace and encourage different perspectives and approaches, which help us make better business decisions. The requirements of this posting may be modified to support business needs.

📌 Investment Appraisal & Portfolio Management Analyst (Calgary)
🏢 Cenovus Energy
📍 Calgary